658 Shares in T. Rowe Price Group, Inc. (NASDAQ:TROW) Purchased by Curat Global LLC

Curat Global LLC purchased a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 658 shares of the asset manager’s stock, valued at approximately $60,000.

Several other institutional investors have also modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of T. Rowe Price Group by 21.4% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 13,913 shares of the asset manager’s stock worth $1,278,000 after acquiring an additional 2,457 shares in the last quarter. Columbia Asset Management lifted its stake in shares of T. Rowe Price Group by 57.3% in the first quarter. Columbia Asset Management now owns 14,484 shares of the asset manager’s stock worth $1,331,000 after acquiring an additional 5,275 shares in the last quarter. ST Germain D J Co. Inc. lifted its stake in shares of T. Rowe Price Group by 9.1% in the first quarter. ST Germain D J Co. Inc. now owns 34,216 shares of the asset manager’s stock worth $3,143,000 after acquiring an additional 2,852 shares in the last quarter. American National Bank & Trust acquired a new position in shares of T. Rowe Price Group in the first quarter worth about $373,000. Finally, Czech National Bank lifted its stake in shares of T. Rowe Price Group by 6.2% in the first quarter. Czech National Bank now owns 51,135 shares of the asset manager’s stock worth $4,698,000 after acquiring an additional 2,966 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insider Buying and Selling

In related news, insider Jessica M. Hiebler sold 968 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $96.98, for a total value of $93,876.64. Following the completion of the transaction, the insider now directly owns 13,611 shares of the company’s stock, valued at $1,319,994.78. This represents a 6.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert F. Maclellan sold 3,955 shares of the stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $91.56, for a total value of $362,119.80. Following the completion of the transaction, the director now directly owns 42,979 shares of the company’s stock, valued at $3,935,157.24. This trade represents a 8.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on TROW shares. JPMorgan Chase & Co. cut their price objective on T. Rowe Price Group from $110.00 to $90.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 16th. Morgan Stanley upped their price objective on T. Rowe Price Group from $94.00 to $95.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 6th. The Goldman Sachs Group cut their price objective on T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating on the stock in a research note on Monday, April 14th. Wells Fargo & Company cut their price objective on T. Rowe Price Group from $116.00 to $98.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. Finally, Citigroup cut their price objective on T. Rowe Price Group from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Four research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $94.09.

T. Rowe Price Group Trading Up 1.1%

NASDAQ:TROW opened at $94.28 on Friday. The firm has a market capitalization of $20.77 billion, a PE ratio of 10.29, a price-to-earnings-growth ratio of 2.86 and a beta of 1.49. The stock has a 50 day moving average of $90.71 and a 200-day moving average of $103.49. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, May 2nd. The asset manager reported $2.23 EPS for the quarter, beating the consensus estimate of $2.13 by $0.10. The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.80 billion. T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. The business’s revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.38 earnings per share. As a group, analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be issued a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 5.39%. The ex-dividend date of this dividend is Friday, June 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is 57.60%.

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.