Oppenheimer & Co. Inc. Increases Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Oppenheimer & Co. Inc. grew its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,490 shares of the asset manager’s stock after purchasing an additional 368 shares during the period. Oppenheimer & Co. Inc.’s holdings in T. Rowe Price Group were worth $7,985,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its stake in shares of T. Rowe Price Group by 1.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 157,044 shares of the asset manager’s stock worth $16,469,000 after acquiring an additional 2,817 shares during the last quarter. Belpointe Asset Management LLC bought a new stake in shares of T. Rowe Price Group in the third quarter valued at about $203,000. Public Sector Pension Investment Board lifted its stake in T. Rowe Price Group by 5.5% in the third quarter. Public Sector Pension Investment Board now owns 51,985 shares of the asset manager’s stock worth $5,452,000 after acquiring an additional 2,722 shares during the period. Deutsche Bank AG grew its holdings in T. Rowe Price Group by 1.9% during the 3rd quarter. Deutsche Bank AG now owns 744,413 shares of the asset manager’s stock worth $78,067,000 after acquiring an additional 13,703 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its position in T. Rowe Price Group by 4.0% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 3,958 shares of the asset manager’s stock valued at $415,000 after purchasing an additional 151 shares during the period. 73.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TROW. TD Cowen increased their price objective on shares of T. Rowe Price Group from $121.00 to $123.00 and gave the company a “hold” rating in a research note on Monday, July 8th. JPMorgan Chase & Co. boosted their price target on T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 16th. Evercore ISI dropped their price objective on T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 30th. Citigroup boosted their target price on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Finally, UBS Group raised 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 report on Friday, April 12th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $113.10.

Insiders Place Their Bets

In other news, Director Robert F. Maclellan sold 3,043 shares of the company’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 transaction of $344,102.44. Following the completion of the transaction, the director now directly owns 34,635 shares of the company’s stock, valued at approximately $3,916,525.80. The sale was disclosed in a filing with the SEC, which is available at this link. In other 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 directly owns 14,198 shares of the company’s stock, valued at $1,644,838.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert F. Maclellan sold 3,043 shares of the stock in a transaction 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 transaction, the director now directly owns 34,635 shares of the company’s stock, valued at $3,916,525.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,444 shares of company stock worth $740,408. 2.00% of the stock is owned by corporate insiders.

T. Rowe Price Group Stock Up 0.7 %

Shares of NASDAQ:TROW traded up $0.85 during trading on Friday, hitting $118.02. The stock had a trading volume of 797,537 shares, compared to its average volume of 827,384. The stock has a 50-day simple moving average of $115.85 and a two-hundred day simple moving average of $113.42. The stock has a market capitalization of $26.35 billion, a price-to-earnings ratio of 14.02, a price-to-earnings-growth ratio of 1.79 and a beta of 1.42. T. Rowe Price Group, Inc. has a 12-month low of $87.43 and a 12-month high of $132.76.

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, beating the consensus estimate of $2.04 by $0.34. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the previous year, the business posted $1.69 EPS. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. As a group, sell-side analysts forecast that T. Rowe Price Group, Inc. will post 8.96 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Friday, June 14th were issued a $1.24 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $4.96 dividend on an annualized basis and a yield of 4.20%. T. Rowe Price Group’s payout ratio is 58.91%.

T. Rowe Price Group 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.