T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Bought by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC boosted its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.9% in the first quarter, HoldingsChannel.com reports. The fund owned 5,731 shares of the asset manager’s stock after buying an additional 213 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in T. Rowe Price Group were worth $526,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Robeco Institutional Asset Management B.V. grew its holdings in shares of T. Rowe Price Group by 25.6% during the first quarter. Robeco Institutional Asset Management B.V. now owns 128,063 shares of the asset manager’s stock worth $11,765,000 after buying an additional 26,137 shares in the last quarter. Alpine Bank Wealth Management purchased a new stake in shares of T. Rowe Price Group during the first quarter worth about $133,000. MOKAN Wealth Management Inc. grew its holdings in shares of T. Rowe Price Group by 266.6% during the first quarter. MOKAN Wealth Management Inc. now owns 18,563 shares of the asset manager’s stock worth $1,705,000 after buying an additional 13,500 shares in the last quarter. Mattern Capital Management LLC grew its holdings in shares of T. Rowe Price Group by 8.4% during the first quarter. Mattern Capital Management LLC now owns 80,409 shares of the asset manager’s stock worth $7,387,000 after buying an additional 6,197 shares in the last quarter. Finally, Riverbend Wealth Management LLC grew its holdings in shares of T. Rowe Price Group by 9.3% during the first quarter. Riverbend Wealth Management LLC now owns 2,488 shares of the asset manager’s stock worth $229,000 after buying an additional 212 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. TD Cowen lowered their price target on shares of T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating for the company in a report on Wednesday, April 9th. Bank of America lowered their target price on shares of T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating for the company in a report on Thursday, April 3rd. Morgan Stanley boosted their target price on shares of T. Rowe Price Group from $95.00 to $104.00 and gave the company an “equal weight” rating in a report on Wednesday. Cowen restated a “hold” rating on shares of T. Rowe Price Group in a report on Monday, May 5th. Finally, Barclays boosted their target price on shares of T. Rowe Price Group from $85.00 to $90.00 and gave the company an “underweight” rating in a report on Monday, May 5th. Four equities research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $94.91.

T. Rowe Price Group Stock Up 1.3%

TROW opened at $99.96 on Thursday. T. Rowe Price Group, Inc. has a 52-week low of $77.85 and a 52-week high of $125.81. The company has a 50 day moving average of $93.81 and a two-hundred day moving average of $100.07. The company has a market cap of $22.02 billion, a P/E ratio of 11.33, a P/E/G ratio of 3.20 and a beta of 1.49.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, May 2nd. The asset manager reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.10. T. Rowe Price Group had a net margin of 28.38% and a return on equity of 20.17%. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the previous year, the firm earned $2.38 earnings per share. T. Rowe Price Group’s revenue for the quarter was up .8% on a year-over-year basis. Research analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were paid a dividend of $1.27 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $5.08 annualized dividend and a yield of 5.08%. T. Rowe Price Group’s dividend payout ratio is currently 57.60%.

Insider Activity at T. Rowe Price Group

In other news, VP Dorothy C. Sawyer sold 2,000 shares of the company’s stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total value of $190,860.00. Following the completion of the transaction, the vice president directly owned 44,789 shares in the company, valued at approximately $4,274,214.27. This represents a 4.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jessica M. Hiebler sold 968 shares of the company’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $96.98, for a total transaction of $93,876.64. Following the completion of the transaction, the insider owned 13,611 shares of the company’s stock, valued at $1,319,994.78. This trade represents a 6.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% 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.