Hunter Associates Investment Management LLC Has $7.39 Million Position in T. Rowe Price Group, Inc. $TROW

Hunter Associates Investment Management LLC lessened its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 21.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 81,980 shares of the asset manager’s stock after selling 22,911 shares during the period. T. Rowe Price Group comprises 1.0% of Hunter Associates Investment Management LLC’s portfolio, making the stock its 23rd biggest holding. Hunter Associates Investment Management LLC’s holdings in T. Rowe Price Group were worth $7,391,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. State Street Corp raised its holdings in T. Rowe Price Group by 0.3% in the 4th quarter. State Street Corp now owns 14,159,797 shares of the asset manager’s stock valued at $1,449,680,000 after acquiring an additional 45,530 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of T. Rowe Price Group by 332.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager’s stock worth $897,880,000 after acquiring an additional 6,740,172 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of T. Rowe Price Group by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,073,846 shares of the asset manager’s stock worth $826,600,000 after acquiring an additional 143,109 shares during the period. Invesco Ltd. grew its holdings in shares of T. Rowe Price Group by 3.9% during the 4th quarter. Invesco Ltd. now owns 3,520,858 shares of the asset manager’s stock worth $360,465,000 after purchasing an additional 131,438 shares in the last quarter. Finally, Morgan Stanley grew its holdings in shares of T. Rowe Price Group by 16.0% during the 4th quarter. Morgan Stanley now owns 3,443,322 shares of the asset manager’s stock worth $352,528,000 after purchasing an additional 476,219 shares in the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Stephon A. Jackson sold 3,000 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total value of $307,680.00. Following the sale, the vice president owned 83,883 shares in the company, valued at approximately $8,603,040.48. The trade was a 3.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on TROW shares. TD Cowen upped their target price on T. Rowe Price Group from $93.00 to $94.00 and gave the company a “hold” rating in a research note on Friday, May 1st. Morgan Stanley lifted their price target on shares of T. Rowe Price Group from $105.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Friday, June 26th. The Goldman Sachs Group boosted their price target on shares of T. Rowe Price Group from $90.00 to $92.00 and gave the company a “sell” rating in a report on Tuesday, June 30th. Jefferies Financial Group dropped their price objective on shares of T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating for the company in a research note on Wednesday, April 8th. Finally, BMO Capital Markets raised their price objective on shares of T. Rowe Price Group from $98.00 to $110.00 and gave the stock a “market perform” rating in a report on Monday, May 4th. Eleven analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, T. Rowe Price Group has a consensus rating of “Reduce” and an average price target of $100.54.

T. Rowe Price Group Stock Performance

Shares of TROW opened at $118.55 on Friday. T. Rowe Price Group, Inc. has a 1 year low of $85.22 and a 1 year high of $118.64. The stock has a 50 day simple moving average of $105.76 and a 200-day simple moving average of $100.36. The stock has a market cap of $25.40 billion, a PE ratio of 12.71, a PEG ratio of 6.02 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 EPS for the quarter, beating the consensus estimate of $2.37 by $0.15. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the previous year, the firm earned $2.23 EPS. T. Rowe Price Group’s quarterly revenue was up 5.3% on a year-over-year basis. On average, sell-side analysts forecast that T. Rowe Price Group, Inc. will post 9.69 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were issued a dividend of $1.30 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.4%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 55.73%.

T. Rowe Price Group Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.