Allspring Global Investments Holdings LLC Increases Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Allspring Global Investments Holdings LLC raised its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 6.4% during the first quarter, HoldingsChannel reports. The firm owned 13,658 shares of the asset manager’s stock after purchasing an additional 827 shares during the period. Allspring Global Investments Holdings LLC’s holdings in T. Rowe Price Group were worth $1,665,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV raised its holdings in shares of T. Rowe Price Group by 83.5% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock worth $25,000 after acquiring an additional 106 shares during the period. First United Bank & Trust purchased a new position in shares of T. Rowe Price Group during the 4th quarter worth $31,000. Park Place Capital Corp raised its holdings in shares of T. Rowe Price Group by 1,775.0% during the 4th quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock worth $32,000 after acquiring an additional 284 shares during the period. Fortitude Family Office LLC purchased a new position in shares of T. Rowe Price Group during the 4th quarter worth $33,000. Finally, CVA Family Office LLC purchased a new position in shares of T. Rowe Price Group during the 4th quarter worth $39,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on TROW. Morgan Stanley lifted their price target on T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 17th. Keefe, Bruyette & Woods raised T. Rowe Price Group from an “underperform” rating to a “market perform” rating and raised their price objective for the stock from $106.00 to $120.00 in a research report on Thursday, April 11th. Citigroup raised 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. 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 research report on Tuesday, April 30th. Finally, JPMorgan Chase & Co. raised 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 issued a hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $112.10.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total value of $234,000.00. Following the completion of the transaction, the vice president now owns 34,710 shares in the company, valued at approximately $4,061,070. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total value of $234,000.00. Following the completion of the transaction, the vice president now owns 34,710 shares in the company, valued at approximately $4,061,070. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert F. Maclellan sold 3,043 shares of T. Rowe Price Group stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $113.08, for a total value of $344,102.44. Following the completion of the transaction, the director now owns 34,635 shares of the company’s stock, valued at approximately $3,916,525.80. The disclosure for this sale can be found here. Insiders sold a total of 6,444 shares of company stock valued at $740,408 in the last three months. 2.00% of the stock is owned by corporate insiders.

T. Rowe Price Group Price Performance

NASDAQ TROW opened at $115.77 on Thursday. The company has a market cap of $25.85 billion, a P/E ratio of 13.75, a P/E/G ratio of 1.96 and a beta of 1.42. The stock has a 50-day moving average of $115.08 and a two-hundred day moving average of $113.02. 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 for the quarter, beating the consensus estimate of $2.04 by $0.34. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.71 billion. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. T. Rowe Price Group’s revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.69 EPS. On average, analysts anticipate that T. Rowe Price Group, Inc. will post 8.84 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Friday, June 14th were given a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.28%. The ex-dividend date was Friday, June 14th. T. Rowe Price Group’s dividend payout ratio is currently 58.91%.

T. Rowe Price Group Company 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.