T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Purchased by Robertson Stephens Wealth Management LLC

Robertson Stephens Wealth Management LLC boosted its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 50,984 shares of the asset manager’s stock after purchasing an additional 257 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in T. Rowe Price Group were worth $4,684,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Addison Advisors LLC raised its holdings in T. Rowe Price Group by 67.4% in the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 93 shares in the last quarter. Curio Wealth LLC bought a new stake in shares of T. Rowe Price Group in the 4th quarter worth about $27,000. Advantage Trust Co raised its stake in shares of T. Rowe Price Group by 48.8% in the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 100 shares in the last quarter. Ameriflex Group Inc. bought a new position in shares of T. Rowe Price Group during the fourth quarter worth about $42,000. Finally, Summit Securities Group LLC acquired a new position in T. Rowe Price Group in the fourth quarter worth about $57,000. 73.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on TROW. Barclays upped their price objective on T. Rowe Price Group from $85.00 to $90.00 and gave the company an “underweight” rating in a research note on Monday, May 5th. Evercore ISI dropped their price target on T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating on the stock in a research report on Friday, April 11th. Citigroup reduced their price objective on 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. The Goldman Sachs Group lowered their target price on shares of T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating for the company in a research note on Monday, April 14th. Finally, JPMorgan Chase & Co. dropped their target price on shares of T. Rowe Price Group from $110.00 to $90.00 and set an “underweight” rating on the stock in a report on Wednesday, April 16th. Four analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $94.09.

Insider Activity

In related news, Director Robert F. Maclellan sold 3,955 shares of the stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $91.56, for a total value of $362,119.80. Following the completion of the transaction, the director now directly owns 42,979 shares of the company’s stock, valued at $3,935,157.24. This represents a 8.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total value of $190,860.00. Following the sale, the vice president now directly owns 44,789 shares in the company, valued at $4,274,214.27. The trade was a 4.27% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,923 shares of company stock valued at $646,856. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW opened at $93.21 on Tuesday. The firm has a market capitalization of $20.54 billion, a PE ratio of 10.18, a P/E/G ratio of 2.86 and a beta of 1.49. T. Rowe Price Group, Inc. has a 1-year low of $77.85 and a 1-year high of $125.81. The business’s fifty day moving average price is $91.91 and its two-hundred day moving average price is $102.07.

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

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a $1.27 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $5.08 annualized dividend and a dividend yield of 5.45%. T. Rowe Price Group’s payout ratio is currently 57.60%.

T. Rowe Price Group Company 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.