Bellecapital International Ltd. Has $1.40 Million Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Bellecapital International Ltd. raised its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 26.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,246 shares of the asset manager’s stock after purchasing an additional 3,195 shares during the period. Bellecapital International Ltd.’s holdings in T. Rowe Price Group were worth $1,401,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in TROW. Apollon Wealth Management LLC grew its position in T. Rowe Price Group by 27.7% in the fourth quarter. Apollon Wealth Management LLC now owns 7,797 shares of the asset manager’s stock worth $882,000 after acquiring an additional 1,693 shares in the last quarter. Kestra Private Wealth Services LLC increased its position in T. Rowe Price Group by 12.3% during the fourth quarter. Kestra Private Wealth Services LLC now owns 4,730 shares of the asset manager’s stock worth $535,000 after buying an additional 518 shares during the last quarter. Summit Trail Advisors LLC raised its holdings in T. Rowe Price Group by 23.8% during the fourth quarter. Summit Trail Advisors LLC now owns 4,969 shares of the asset manager’s stock valued at $562,000 after buying an additional 956 shares in the last quarter. Stonebridge Financial Group LLC acquired a new stake in shares of T. Rowe Price Group in the fourth quarter worth about $32,000. Finally, Sovran Advisors LLC bought a new stake in shares of T. Rowe Price Group during the 4th quarter worth about $428,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,955 shares of the firm’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $91.56, for a total transaction of $362,119.80. Following the completion of the transaction, the director now owns 42,979 shares in the company, valued at $3,935,157.24. This trade represents a 8.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jessica M. Hiebler sold 968 shares of T. Rowe Price Group stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $96.98, for a total value of $93,876.64. Following the sale, the insider now directly owns 13,611 shares in the company, valued at $1,319,994.78. The trade was a 6.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock opened at $95.10 on Thursday. The company has a market cap of $20.95 billion, a PE ratio of 10.38, a price-to-earnings-growth ratio of 2.86 and a beta of 1.49. The firm has a fifty day moving average price of $91.17 and a two-hundred day moving average price of $103.01. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.10. T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. The business had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter last year, the company earned $2.38 earnings per share. The firm’s revenue was up .8% on a year-over-year basis. Analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a $1.27 dividend. The ex-dividend date is Friday, June 13th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.34%. T. Rowe Price Group’s dividend payout ratio is currently 57.60%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TROW. Evercore ISI cut their price objective on T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating on the stock in a research note on Friday, April 11th. Barclays lifted their price target on shares of T. Rowe Price Group from $85.00 to $90.00 and gave the company an “underweight” rating in a research report on Monday, May 5th. TD Cowen decreased their price objective on shares of T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating for the company in a report on Wednesday, April 9th. Citigroup lowered their target price on shares of T. Rowe Price Group from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Finally, Wells Fargo & Company cut their target price on shares of T. Rowe Price Group from $116.00 to $98.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 8th. Four research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. Based on data from MarketBeat, T. Rowe Price Group has an average rating of “Hold” and a consensus price target of $94.09.

T. Rowe Price Group Profile

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.