OLD Republic International Corp Purchases New Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

OLD Republic International Corp acquired a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 110,000 shares of the asset manager’s stock, valued at approximately $11,846,000.

A number of other hedge funds also recently modified their holdings of the company. Wealthspire Advisors LLC raised its position in T. Rowe Price Group by 3.8% in the fourth quarter. Wealthspire Advisors LLC now owns 13,934 shares of the asset manager’s stock worth $1,501,000 after purchasing an additional 514 shares in the last quarter. Bogart Wealth LLC raised its holdings in shares of T. Rowe Price Group by 0.4% in the 4th quarter. Bogart Wealth LLC now owns 42,594 shares of the asset manager’s stock worth $4,587,000 after buying an additional 176 shares in the last quarter. Sawgrass Asset Management LLC lifted its position in shares of T. Rowe Price Group by 26.7% during the 4th quarter. Sawgrass Asset Management LLC now owns 6,345 shares of the asset manager’s stock worth $683,000 after buying an additional 1,338 shares during the period. Barlow Wealth Partners Inc. acquired a new stake in T. Rowe Price Group in the 4th quarter valued at $11,732,000. Finally, Simmons Bank grew its position in T. Rowe Price Group by 89.2% in the fourth quarter. Simmons Bank now owns 6,628 shares of the asset manager’s stock valued at $714,000 after acquiring an additional 3,125 shares during the period. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Trading Up 0.2 %

Shares of TROW traded up $0.17 during trading hours on Friday, hitting $111.47. 284,825 shares of the stock traded hands, compared to its average volume of 1,437,863. The business has a fifty day moving average of $115.22 and a 200-day moving average of $107.71. The firm has a market capitalization of $24.89 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 1.93 and a beta of 1.40. 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 released 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 company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.71 billion. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The company’s revenue was up 13.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.69 EPS. As a group, equities research analysts expect that T. Rowe Price Group, Inc. will post 8.75 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

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

Insiders Place Their Bets

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,043 shares of the stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $113.08, for a total value of $344,102.44. Following the transaction, the director now owns 34,635 shares of the company’s stock, valued at $3,916,525.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,043 shares of T. Rowe Price Group stock in a transaction dated 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 directly owns 34,635 shares in the company, valued at $3,916,525.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $118.32, for a total value of $1,034,116.80. Following the completion of the transaction, the director now directly owns 21,073 shares of the company’s stock, valued at $2,493,357.36. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Evercore ISI cut their price objective on T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating for the company in a report on Tuesday, April 30th. Keefe, Bruyette & Woods raised shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and lifted their price target for the company from $106.00 to $120.00 in a report on Thursday, April 11th. Morgan Stanley boosted their price target on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 17th. JPMorgan Chase & Co. raised 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, UBS Group boosted their target price on T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a report on Friday, April 12th. Four research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $112.10.

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.