T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Purchased by Occidental Asset Management LLC

Occidental Asset Management LLC boosted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 16.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,745 shares of the asset manager’s stock after purchasing an additional 3,438 shares during the period. Occidental Asset Management LLC’s holdings in T. Rowe Price Group were worth $3,017,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. L. Roy Papp & Associates LLP grew its stake in shares of T. Rowe Price Group by 5.8% during the fourth quarter. L. Roy Papp & Associates LLP now owns 158,875 shares of the asset manager’s stock valued at $17,109,000 after acquiring an additional 8,773 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its position in shares of T. Rowe Price Group by 15.8% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 344,889 shares of the asset manager’s stock worth $37,141,000 after purchasing an additional 47,043 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of T. Rowe Price Group by 3.5% during the fourth quarter. Nordea Investment Management AB now owns 317,349 shares of the asset manager’s stock worth $34,299,000 after purchasing an additional 10,680 shares during the last quarter. Vest Financial LLC lifted its position in shares of T. Rowe Price Group by 48.8% during the fourth quarter. Vest Financial LLC now owns 280,552 shares of the asset manager’s stock worth $30,213,000 after purchasing an additional 92,059 shares during the last quarter. Finally, Nebula Research & Development LLC bought a new position in shares of T. Rowe Price Group during the fourth quarter worth about $807,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TROW. Keefe, Bruyette & Woods raised T. Rowe Price Group from an “underperform” rating to a “market perform” rating and lifted their price target for the company from $106.00 to $120.00 in a report on Thursday, April 11th. Citigroup lifted their price target on T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Evercore ISI cut their price target on T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a report on Tuesday, April 30th. UBS Group lifted their price target on T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a report on Friday, April 12th. Finally, Morgan Stanley lifted their price target on T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a report on Wednesday, April 17th. Four investment analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $112.10.

Insiders Place Their Bets

In other news, Director Robert F. Maclellan sold 3,043 shares of T. Rowe Price Group stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $113.08, for a total transaction of $344,102.44. Following the transaction, the director now owns 34,635 shares in the company, valued at approximately $3,916,525.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Jessica M. Hiebler sold 1,401 shares of T. Rowe Price Group stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total value of $162,305.85. Following the sale, the insider now owns 14,198 shares of the company’s stock, valued at approximately $1,644,838.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert F. Maclellan sold 3,043 shares of T. Rowe Price Group stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $113.08, for a total value of $344,102.44. Following the completion of the sale, the director now directly owns 34,635 shares in the company, valued at approximately $3,916,525.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,444 shares of company stock worth $740,408. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW traded down $0.12 during midday trading on Friday, reaching $115.31. The company’s stock had a trading volume of 1,598,508 shares, compared to its average volume of 1,018,934. T. Rowe Price Group, Inc. has a fifty-two week low of $87.43 and a fifty-two week high of $132.76. The company has a market capitalization of $25.75 billion, a P/E ratio of 13.69, a P/E/G ratio of 1.97 and a beta of 1.43. The business’s fifty day simple moving average is $114.98 and its 200-day simple moving average is $112.76.

T. Rowe Price Group (NASDAQ:TROW) last announced 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. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.71 billion. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. The company’s revenue was up 13.8% on a year-over-year basis. During the same period last year, the company earned $1.69 earnings per share. On average, analysts forecast that T. Rowe Price Group, Inc. will post 8.84 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date was Friday, June 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 58.91%.

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.