T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Purchased by Saratoga Research & Investment Management

Saratoga Research & Investment Management boosted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 65.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,208 shares of the asset manager’s stock after acquiring an additional 2,060 shares during the period. Saratoga Research & Investment Management’s holdings in T. Rowe Price Group were worth $635,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in TROW. Creative Financial Designs Inc. ADV raised its holdings in T. Rowe Price Group by 83.5% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 106 shares in the last quarter. First United Bank & Trust acquired a new stake in shares of T. Rowe Price Group during the fourth quarter worth $31,000. Park Place Capital Corp raised its holdings in shares of T. Rowe Price Group by 1,775.0% during the fourth quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock worth $32,000 after purchasing an additional 284 shares during the period. Fortitude Family Office LLC acquired a new stake in shares of T. Rowe Price Group during the fourth quarter worth $33,000. Finally, CVA Family Office LLC acquired a new stake in shares of T. Rowe Price Group during the fourth quarter worth $39,000. 73.39% of the stock is owned by institutional investors and hedge funds.

Insider Activity at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,043 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 34,635 shares in the company, valued at approximately $3,916,525.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Jessica M. Hiebler sold 1,401 shares of the firm’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $115.85, for a total transaction of $162,305.85. Following the completion of the transaction, the insider now owns 14,198 shares in the company, valued at approximately $1,644,838.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Robert F. Maclellan sold 3,043 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were 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 of the company’s stock, valued at approximately $3,916,525.80. The disclosure for this sale can be found here. Insiders sold 6,444 shares of company stock worth $740,408 in the last 90 days. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Trading Down 0.1 %

TROW traded down $0.12 on Friday, reaching $115.31. The company had a trading volume of 1,598,508 shares, compared to its average volume of 1,018,934. The company has a fifty day moving average of $114.98 and a 200-day moving average of $112.85. The company has a market capitalization of $25.75 billion, a P/E ratio of 13.69, a PEG ratio of 1.97 and a beta of 1.43. 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 announced its earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share (EPS) for the quarter, beating 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 net margin of 29.09% and a return on equity of 19.70%. T. Rowe Price Group’s revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.69 EPS. Research analysts predict that T. Rowe Price Group, Inc. will post 8.84 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Friday, June 14th were given a $1.24 dividend. The ex-dividend date was Friday, June 14th. This represents a $4.96 dividend on an annualized basis and a yield of 4.30%. T. Rowe Price Group’s dividend payout ratio is presently 58.91%.

Analyst Upgrades and Downgrades

TROW has been the topic of a number of research reports. TD Cowen raised shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and increased their target price for the stock from $92.00 to $114.00 in a report on Monday, April 8th. Evercore ISI dropped their target price on shares of 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 increased their price objective on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a report on Friday, April 12th. JPMorgan Chase & Co. increased their price objective 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. Finally, Keefe, Bruyette & Woods raised shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and increased their price objective for the stock from $106.00 to $120.00 in a report on Thursday, April 11th. Four investment analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $112.10.

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.