T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Farmers & Merchants Investments Inc.

Farmers & Merchants Investments Inc. reduced its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 35,641 shares of the asset manager’s stock after selling 157 shares during the period. Farmers & Merchants Investments Inc.’s holdings in T. Rowe Price Group were worth $4,345,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC lifted its position in shares of T. Rowe Price Group by 70.4% in the third quarter. O Shaughnessy Asset Management LLC now owns 10,396 shares of the asset manager’s stock valued at $1,090,000 after acquiring an additional 4,294 shares in the last quarter. Bank of Nova Scotia lifted its position in shares of T. Rowe Price Group by 16.7% in the third quarter. Bank of Nova Scotia now owns 18,292 shares of the asset manager’s stock valued at $1,918,000 after acquiring an additional 2,613 shares in the last quarter. Toronto Dominion Bank lifted its position in shares of T. Rowe Price Group by 10.7% in the third quarter. Toronto Dominion Bank now owns 105,777 shares of the asset manager’s stock valued at $11,093,000 after acquiring an additional 10,221 shares in the last quarter. Advisors Asset Management Inc. lifted its position in shares of T. Rowe Price Group by 2.4% in the third quarter. Advisors Asset Management Inc. now owns 55,331 shares of the asset manager’s stock valued at $5,803,000 after acquiring an additional 1,308 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of T. Rowe Price Group by 0.3% in the third quarter. Ameriprise Financial Inc. now owns 818,649 shares of the asset manager’s stock valued at $85,852,000 after acquiring an additional 2,333 shares in the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Jessica M. Hiebler sold 1,401 shares of T. Rowe Price Group stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total value of $162,305.85. Following the completion of the sale, the insider now directly owns 14,198 shares of the company’s stock, valued at $1,644,838.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Robert F. Maclellan sold 3,043 shares of the business’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $113.08, for a total transaction of $344,102.44. Following the completion of the transaction, the director now directly owns 34,635 shares of the company’s stock, valued at approximately $3,916,525.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jessica M. Hiebler sold 1,401 shares of the business’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total value of $162,305.85. Following the transaction, the insider now directly owns 14,198 shares of the company’s stock, valued at $1,644,838.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,444 shares of company stock valued at $740,408. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Morgan Stanley raised their target price on 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. Evercore ISI reduced their price objective on T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 30th. Citigroup lifted their price objective on 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. Keefe, Bruyette & Woods upgraded T. Rowe Price Group from an “underperform” rating to a “market perform” rating and lifted their price objective for the stock from $106.00 to $120.00 in a research report on Thursday, April 11th. Finally, JPMorgan Chase & Co. lifted their price objective on 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. Four equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $112.10.

T. Rowe Price Group Stock Up 0.7 %

TROW stock opened at $114.60 on Wednesday. The business has a fifty day moving average of $115.03 and a two-hundred day moving average of $112.96. The stock has a market cap of $25.59 billion, a price-to-earnings ratio of 13.61, a price-to-earnings-growth ratio of 1.97 and a beta of 1.42. T. Rowe Price Group, Inc. has a 52-week low of $87.43 and a 52-week high of $132.76.

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 for the quarter, beating analysts’ consensus estimates of $2.04 by $0.34. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the previous year, the firm posted $1.69 earnings per share. The company’s revenue was up 13.8% on a year-over-year basis. As a group, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 8.84 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Friday, June 14th were paid a $1.24 dividend. The ex-dividend date was Friday, June 14th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.33%. T. Rowe Price Group’s payout ratio is presently 58.91%.

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.