Confluence Investment Management LLC Invests $130.39 Million in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Confluence Investment Management LLC bought a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROWFree Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,069,437 shares of the asset manager’s stock, valued at approximately $130,386,000. T. Rowe Price Group makes up 1.8% of Confluence Investment Management LLC’s portfolio, making the stock its 16th largest position. Confluence Investment Management LLC owned 0.48% of T. Rowe Price Group at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Creative Financial Designs Inc. ADV increased its stake in shares of T. Rowe Price Group by 83.5% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 106 shares in the last quarter. First United Bank & Trust bought a new stake in T. Rowe Price Group in the 4th quarter valued at $31,000. Park Place Capital Corp increased its holdings in shares of T. Rowe Price Group by 1,775.0% in the 4th quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock worth $32,000 after buying an additional 284 shares during the last quarter. Fortitude Family Office LLC bought a new position in T. Rowe Price Group during the 4th quarter valued at about $33,000. Finally, CVA Family Office LLC bought a new position in T. Rowe Price Group during the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods raised shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and upped their price target for the stock from $106.00 to $120.00 in a research report on Thursday, April 11th. UBS Group upped their price target on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research note on Friday, April 12th. Morgan Stanley increased their price objective on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 17th. Evercore ISI cut their price objective on shares of T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 30th. Finally, JPMorgan Chase & Co. increased their price target on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. Four investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $112.10.

Check Out Our Latest Stock Report on TROW

Insider Buying and Selling

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,043 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $113.08, for a total value of $344,102.44. Following the sale, the director now owns 34,635 shares of the company’s stock, valued at approximately $3,916,525.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Down 0.0 %

Shares of TROW traded down $0.01 during trading on Tuesday, reaching $117.03. The company’s stock had a trading volume of 259,901 shares, compared to its average volume of 1,356,805. The company has a fifty day moving average of $114.36 and a two-hundred day moving average of $111.86. T. Rowe Price Group, Inc. has a twelve month low of $87.43 and a twelve month high of $132.76. The company has a market cap of $26.13 billion, a price-to-earnings ratio of 13.90, a P/E/G ratio of 1.96 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROWGet Free Report) last issued its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.34. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the prior year, the business earned $1.69 EPS. The firm’s revenue was up 13.8% on a year-over-year basis. As a group, equities analysts forecast that T. Rowe Price Group, Inc. will post 8.84 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Friday, June 14th will be paid a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.24%. The ex-dividend date is Friday, June 14th. T. Rowe Price Group’s dividend payout ratio is currently 58.91%.

T. Rowe Price Group Profile

(Free Report)

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.

Further Reading

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

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