MAI Capital Management Grows Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

MAI Capital Management lifted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROWGet Rating) by 10.2% in the 4th quarter, HoldingsChannel reports. The firm owned 15,429 shares of the asset manager’s stock after buying an additional 1,427 shares during the quarter. MAI Capital Management’s holdings in T. Rowe Price Group were worth $3,034,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. CBOE Vest Financial LLC lifted its stake in shares of T. Rowe Price Group by 12.4% during the 3rd quarter. CBOE Vest Financial LLC now owns 25,334 shares of the asset manager’s stock valued at $4,984,000 after buying an additional 2,795 shares in the last quarter. MD Financial Management Inc. grew its position in shares of T. Rowe Price Group by 7.4% in the third quarter. MD Financial Management Inc. now owns 17,349 shares of the asset manager’s stock valued at $3,413,000 after purchasing an additional 1,190 shares in the last quarter. Concord Wealth Partners boosted its stake in T. Rowe Price Group by 3,180.0% in the 4th quarter. Concord Wealth Partners now owns 328 shares of the asset manager’s stock worth $64,000 after purchasing an additional 318 shares during the period. First Horizon Advisors Inc. grew its holdings in T. Rowe Price Group by 9.1% during the 4th quarter. First Horizon Advisors Inc. now owns 2,251 shares of the asset manager’s stock valued at $442,000 after buying an additional 187 shares in the last quarter. Finally, Vestmark Advisory Solutions Inc. increased its position in shares of T. Rowe Price Group by 7.7% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 2,338 shares of the asset manager’s stock valued at $460,000 after buying an additional 167 shares during the period. 71.80% of the stock is currently owned by institutional investors.

TROW traded down $0.88 during trading on Thursday, hitting $120.43. 11,527 shares of the stock traded hands, compared to its average volume of 1,912,324. The firm has a market capitalization of $27.37 billion, a P/E ratio of 9.81, a price-to-earnings-growth ratio of 1.87 and a beta of 1.34. T. Rowe Price Group, Inc. has a 12-month low of $112.65 and a 12-month high of $224.55. The firm has a 50-day moving average of $138.50 and a 200 day moving average of $165.32.

T. Rowe Price Group (NASDAQ:TROWGet Rating) last posted its earnings results on Thursday, April 28th. The asset manager reported $2.62 earnings per share for the quarter, missing analysts’ consensus estimates of $2.76 by ($0.14). The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.86 billion. T. Rowe Price Group had a return on equity of 33.38% and a net margin of 37.64%. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.01 earnings per share. As a group, equities research analysts expect that T. Rowe Price Group, Inc. will post 10.74 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 29th. Stockholders of record on Wednesday, June 15th will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Tuesday, June 14th. This represents a $4.80 annualized dividend and a dividend yield of 3.99%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 38.83%.

Several brokerages recently commented on TROW. Citigroup reduced their price objective on shares of T. Rowe Price Group from $110.00 to $90.00 in a research note on Friday, April 29th. BMO Capital Markets decreased their price target on shares of T. Rowe Price Group from $204.00 to $160.00 and set an “outperform” rating on the stock in a report on Monday, May 2nd. StockNews.com began coverage on T. Rowe Price Group in a research note on Thursday, March 31st. They set a “hold” rating for the company. Morgan Stanley decreased their target price on T. Rowe Price Group from $178.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Monday, April 25th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on T. Rowe Price Group from $142.00 to $126.00 in a research report on Thursday. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $168.27.

In related news, insider Jessica M. Hiebler sold 1,260 shares of T. Rowe Price Group stock in a transaction that occurred on Monday, February 28th. The stock was sold at an average price of $143.65, for a total transaction of $180,999.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Andrew Justin Mackenzi Thomson sold 8,216 shares of the stock in a transaction on Tuesday, February 22nd. The stock was sold at an average price of $142.92, for a total value of $1,174,230.72. The disclosure for this sale can be found here. Insiders sold 10,206 shares of company stock valued at $1,446,480 in the last ninety days. 1.00% of the stock is currently owned by insiders.

T. Rowe Price Group Profile (Get Rating)

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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