Cadence Bank Buys 135 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Cadence Bank grew its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,389 shares of the asset manager’s stock after purchasing an additional 135 shares during the quarter. Cadence Bank’s holdings in T. Rowe Price Group were worth $1,145,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. CVA Family Office LLC acquired a new position in shares of T. Rowe Price Group during the 4th quarter worth about $39,000. Fort Washington Investment Advisors Inc. OH boosted its position in shares of T. Rowe Price Group by 1.3% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 217,109 shares of the asset manager’s stock valued at $23,380,000 after acquiring an additional 2,704 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of T. Rowe Price Group by 36.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 32,019 shares of the asset manager’s stock worth $3,448,000 after acquiring an additional 8,545 shares during the last quarter. RNC Capital Management LLC increased its position in T. Rowe Price Group by 57.0% during the fourth quarter. RNC Capital Management LLC now owns 22,340 shares of the asset manager’s stock worth $2,406,000 after acquiring an additional 8,115 shares during the period. Finally, Planned Solutions Inc. acquired a new position in T. Rowe Price Group during the 4th quarter valued at $110,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Citigroup raised their price target on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. JPMorgan Chase & Co. boosted their price target on T. Rowe Price Group from $102.00 to $107.00 and gave the company an “underweight” rating in a research note on Tuesday. StockNews.com upgraded T. Rowe Price Group from a “hold” rating to a “buy” rating in a research report on Wednesday, July 10th. Keefe, Bruyette & Woods lifted their price objective on T. Rowe Price Group from $120.00 to $121.00 and gave the stock a “market perform” rating in a report on Friday, July 12th. Finally, Morgan Stanley upped their target price on T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 17th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $113.50.

T. Rowe Price Group Stock Down 3.0 %

NASDAQ:TROW traded down $3.41 during trading hours on Friday, reaching $112.08. The company had a trading volume of 1,972,332 shares, compared to its average volume of 1,297,146. The stock has a 50-day moving average of $116.57 and a two-hundred day moving average of $114.00. T. Rowe Price Group, Inc. has a one year low of $87.43 and a one year high of $132.76. The firm has a market capitalization of $25.03 billion, a PE ratio of 13.72, a PEG ratio of 1.66 and a beta of 1.42.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.01). T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same period in the prior year, the business earned $2.02 earnings per share. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. As a group, sell-side analysts expect that T. Rowe Price Group, Inc. will post 8.98 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Friday, June 14th were paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date of this dividend was Friday, June 14th. T. Rowe Price Group’s dividend payout ratio is presently 58.91%.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,043 shares of the company’s stock in a transaction 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 transaction, the director now owns 34,635 shares of the company’s stock, valued at approximately $3,916,525.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Jessica M. Hiebler sold 1,401 shares of T. Rowe Price Group stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total transaction of $162,305.85. Following the completion of 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 legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robert F. Maclellan sold 3,043 shares of the stock in a transaction dated 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 in the company, valued at approximately $3,916,525.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,444 shares of company stock worth $740,408. Corporate insiders own 2.00% of the company’s stock.

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.