Fairfield Bush & CO. reduced its stake in shares of T. Rowe Price Group Inc (NASDAQ:TROW) by 20.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,301 shares of the asset manager’s stock after selling 600 shares during the period. Fairfield Bush & CO.’s holdings in T. Rowe Price Group were worth $225,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of TROW. Citizens Financial Group Inc RI raised its position in shares of T. Rowe Price Group by 70.4% during the 4th quarter. Citizens Financial Group Inc RI now owns 230 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 95 shares during the period. Penserra Capital Management LLC boosted its holdings in shares of T. Rowe Price Group by 52.7% in the 4th quarter. Penserra Capital Management LLC now owns 252 shares of the asset manager’s stock valued at $33,000 after acquiring an additional 87 shares during the last quarter. HHM Wealth Advisors LLC purchased a new stake in shares of T. Rowe Price Group in the 1st quarter valued at $28,000. Shine Investment Advisory Services Inc. boosted its holdings in shares of T. Rowe Price Group by 248.4% in the 1st quarter. Shine Investment Advisory Services Inc. now owns 324 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 231 shares during the last quarter. Finally, Advisory Alpha LLC boosted its holdings in shares of T. Rowe Price Group by 29.8% in the 4th quarter. Advisory Alpha LLC now owns 366 shares of the asset manager’s stock valued at $48,000 after acquiring an additional 84 shares during the last quarter. Hedge funds and other institutional investors own 70.76% of the company’s stock.

TROW traded up $4.55 during midday trading on Wednesday, reaching $127.51. The company’s stock had a trading volume of 77,894 shares, compared to its average volume of 1,249,181. The stock has a market cap of $27.73 billion, a P/E ratio of 15.80, a PEG ratio of 1.92 and a beta of 1.15. The company has a fifty day simple moving average of $110.60 and a 200 day simple moving average of $118.51. The company has a current ratio of 4.55, a quick ratio of 4.55 and a debt-to-equity ratio of 0.03. T. Rowe Price Group Inc has a twelve month low of $82.51 and a twelve month high of $139.82.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Tuesday, April 28th. The asset manager reported $1.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.79 by $0.08. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.43 billion. T. Rowe Price Group had a return on equity of 29.22% and a net margin of 33.86%. The company’s revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.87 EPS. Sell-side analysts expect that T. Rowe Price Group Inc will post 6.84 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 2.82%. The ex-dividend date is Friday, June 12th. T. Rowe Price Group’s payout ratio is presently 44.61%.

Several research firms have recently commented on TROW. Deutsche Bank upped their price objective on shares of T. Rowe Price Group from $110.00 to $115.00 and gave the company a “hold” rating in a report on Friday, May 15th. Zacks Investment Research raised shares of T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $118.00 price objective on the stock in a report on Wednesday, March 11th. Morgan Stanley lifted their price objective on shares of T. Rowe Price Group from $105.00 to $115.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. BMO Capital Markets lifted their price objective on shares of T. Rowe Price Group from $86.00 to $92.00 and gave the company a “market perform” rating in a research report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of T. Rowe Price Group from $101.00 to $110.00 and gave the company an “underweight” rating in a research report on Wednesday, April 29th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. T. Rowe Price Group currently has an average rating of “Hold” and a consensus price target of $108.67.

In other news, Director Mary K. Bush sold 1,851 shares of T. Rowe Price Group stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $115.34, for a total transaction of $213,494.34. Following the sale, the director now owns 15,955 shares of the company’s stock, valued at approximately $1,840,249.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP David Oestreicher sold 3,500 shares of T. Rowe Price Group stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $120.85, for a total value of $422,975.00. Following the sale, the vice president now directly owns 97,673 shares in the company, valued at approximately $11,803,782.05. The disclosure for this sale can be found here. Insiders have sold a total of 8,851 shares of company stock worth $1,047,719 in the last three months. 1.00% of the stock is owned by insiders.

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.

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Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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