T. Rowe Price Group, Inc. (NASDAQ:TROW) Stock Position Increased by Simmons Bank

Simmons Bank increased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 89.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,628 shares of the asset manager’s stock after acquiring an additional 3,125 shares during the period. Simmons Bank’s holdings in T. Rowe Price Group were worth $714,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its position in shares of T. Rowe Price Group by 2.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,900,101 shares of the asset manager’s stock worth $513,874,000 after purchasing an additional 134,839 shares during the period. Morgan Stanley boosted its stake in shares of T. Rowe Price Group by 0.7% during the 3rd quarter. Morgan Stanley now owns 3,483,350 shares of the asset manager’s stock valued at $365,299,000 after buying an additional 25,012 shares during the period. Northern Trust Corp grew its stake in T. Rowe Price Group by 4.1% in the third quarter. Northern Trust Corp now owns 2,356,132 shares of the asset manager’s stock valued at $247,088,000 after purchasing an additional 93,829 shares in the last quarter. Fisher Asset Management LLC increased its position in T. Rowe Price Group by 6.7% in the 4th quarter. Fisher Asset Management LLC now owns 1,752,005 shares of the asset manager’s stock worth $188,674,000 after purchasing an additional 109,653 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of T. Rowe Price Group by 7.6% during the 3rd quarter. Invesco Ltd. now owns 1,684,057 shares of the asset manager’s stock worth $176,607,000 after purchasing an additional 119,305 shares in the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Jessica M. Hiebler sold 1,138 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $107.13, for a total value of $121,913.94. Following the transaction, the insider now owns 14,113 shares in the company, valued at $1,511,925.69. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Jessica M. Hiebler sold 1,138 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $107.13, for a total transaction of $121,913.94. Following the completion of the transaction, the insider now directly owns 14,113 shares in the company, valued at approximately $1,511,925.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the completion of the sale, the director now owns 21,073 shares of the company’s stock, valued at approximately $2,493,357.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,921 shares of company stock valued at $1,500,133. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Up 0.3 %

T. Rowe Price Group stock traded up $0.29 during mid-day trading on Wednesday, hitting $111.54. 746,679 shares of the company were exchanged, compared to its average volume of 1,440,764. The company has a market capitalization of $24.91 billion, a PE ratio of 13.21, a price-to-earnings-growth ratio of 1.93 and a beta of 1.40. The business has a fifty day moving average of $115.24 and a 200 day moving average of $107.68. T. Rowe Price Group, Inc. has a 1-year low of $87.43 and a 1-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, topping analysts’ consensus estimates of $2.04 by $0.34. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.71 billion. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter last year, the company posted $1.69 EPS. Research analysts expect that T. Rowe Price Group, Inc. will post 8.75 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Friday, June 14th will be given a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.45%. T. Rowe Price Group’s payout ratio is presently 58.91%.

Analyst Ratings Changes

Several analysts have commented on the stock. Morgan Stanley boosted their target price on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 17th. JPMorgan Chase & Co. raised their target price on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a research note on Tuesday, April 16th. Keefe, Bruyette & Woods upgraded shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and lifted their target price for the stock from $106.00 to $120.00 in a report on Thursday, April 11th. Citigroup increased their target price on T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Finally, TD Cowen raised shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and increased their price target for the company from $92.00 to $114.00 in a report on Monday, April 8th. Four investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $112.10.

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.