T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Bought by Empirical Finance LLC

Empirical Finance LLC lifted its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,176 shares of the asset manager’s stock after acquiring an additional 274 shares during the quarter. Empirical Finance LLC’s holdings in T. Rowe Price Group were worth $997,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Confluence Investment Management LLC bought a new stake in T. Rowe Price Group during the first quarter worth approximately $130,386,000. International Assets Investment Management LLC lifted its position in shares of T. Rowe Price Group by 8,968.6% in the fourth quarter. International Assets Investment Management LLC now owns 902,146 shares of the asset manager’s stock worth $97,152,000 after buying an additional 892,198 shares during the last quarter. UBS Group AG boosted its holdings in shares of T. Rowe Price Group by 473.3% during the 4th quarter. UBS Group AG now owns 975,226 shares of the asset manager’s stock worth $105,022,000 after buying an additional 805,106 shares during the period. Norges Bank bought a new position in T. Rowe Price Group in the 4th quarter worth approximately $80,831,000. Finally, Hsbc Holdings PLC lifted its stake in shares of T. Rowe Price Group by 66.8% in the fourth quarter. Hsbc Holdings PLC now owns 765,080 shares of the asset manager’s stock valued at $82,434,000 after buying an additional 306,524 shares during the period. 73.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on TROW. TD Cowen increased their price objective on T. Rowe Price Group from $121.00 to $123.00 and gave the stock a “hold” rating in a research note on Monday. JPMorgan Chase & Co. upped their price target on T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a research note on Tuesday, April 16th. Morgan Stanley increased their target price on T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 17th. UBS Group increased their price target on T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research report on Friday, April 12th. Finally, Keefe, Bruyette & Woods upped their price target on shares of T. Rowe Price Group from $120.00 to $121.00 and gave the company a “market perform” rating in a research note on Friday. Four analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, T. Rowe Price Group currently has a consensus rating of “Hold” and a consensus price target of $113.10.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total transaction of $234,000.00. Following the completion of the transaction, the vice president now owns 34,710 shares of the company’s stock, valued at approximately $4,061,070. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total transaction of $234,000.00. Following the completion of the sale, the vice president now owns 34,710 shares in the company, valued at approximately $4,061,070. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robert F. Maclellan sold 3,043 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $113.08, for a total transaction of $344,102.44. Following the completion of the sale, the director now directly owns 34,635 shares in the company, valued at $3,916,525.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,444 shares of company stock valued at $740,408. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Performance

TROW traded up $0.85 during midday trading on Friday, reaching $118.02. 794,248 shares of the company were exchanged, compared to its average volume of 1,309,773. The company has a market cap of $26.35 billion, a price-to-earnings ratio of 13.92, a price-to-earnings-growth ratio of 1.96 and a beta of 1.42. The company’s fifty day moving average price is $115.72 and its 200 day moving average price is $113.35. T. Rowe Price Group, Inc. has a one year low of $87.43 and a one year high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.34. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.71 billion. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.69 earnings per share. As a group, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 8.93 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Friday, June 14th were issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 4.20%. The ex-dividend date of this dividend was Friday, June 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 58.91%.

About T. Rowe Price Group

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.