Massmutual Trust Co. FSB ADV Grows Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Massmutual Trust Co. FSB ADV raised its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 7.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,236 shares of the asset manager’s stock after purchasing an additional 86 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in T. Rowe Price Group were worth $151,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. QRG Capital Management Inc. acquired a new position in shares of T. Rowe Price Group during the 3rd quarter valued at about $537,000. Envestnet Asset Management Inc. increased its stake in shares of T. Rowe Price Group by 10.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 136,550 shares of the asset manager’s stock valued at $14,320,000 after acquiring an additional 12,463 shares during the last quarter. FMR LLC increased its stake in shares of T. Rowe Price Group by 1.2% during the 3rd quarter. FMR LLC now owns 439,796 shares of the asset manager’s stock valued at $46,121,000 after acquiring an additional 5,068 shares during the last quarter. Rathbones Group PLC acquired a new position in shares of T. Rowe Price Group during the 3rd quarter valued at about $401,000. Finally, Acadian Asset Management LLC acquired a new position in shares of T. Rowe Price Group during the 3rd quarter valued at about $561,000. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total transaction of $234,000.00. Following the completion of the transaction, the vice president now directly owns 34,710 shares in the company, valued at approximately $4,061,070. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total transaction of $234,000.00. Following the completion of the transaction, the vice president now directly owns 34,710 shares in the company, valued at approximately $4,061,070. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert F. Maclellan sold 3,043 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were 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 disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on TROW shares. TD Cowen raised shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and upped their price objective for the company from $92.00 to $114.00 in a research note on Monday, April 8th. UBS Group upped their price objective on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research note on Friday, April 12th. JPMorgan Chase & Co. increased their target price on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 16th. Citigroup increased their target price 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. Finally, Evercore ISI dropped their target price on shares of T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating for the company in a research report on Tuesday, April 30th. Four equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $112.10.

T. Rowe Price Group Stock Up 0.2 %

Shares of NASDAQ:TROW opened at $118.42 on Friday. T. Rowe Price Group, Inc. has a 52-week low of $87.43 and a 52-week high of $132.76. The company has a 50 day moving average of $114.41 and a two-hundred day moving average of $112.16. The company has a market capitalization of $26.44 billion, a price-to-earnings ratio of 14.06, a price-to-earnings-growth ratio of 2.02 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.34. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter last year, the company earned $1.69 earnings per share. T. Rowe Price Group’s revenue for the quarter was up 13.8% on a year-over-year basis. On average, equities analysts anticipate that T. Rowe Price Group, Inc. will post 8.84 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, June 14th will be paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 4.19%. The ex-dividend date of this dividend is Friday, June 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 58.91%.

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.