Mutual of America Capital Management LLC Sells 552 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Mutual of America Capital Management LLC decreased its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.8% during the first quarter, Holdings Channel.com reports. The institutional investor owned 29,355 shares of the asset manager’s stock after selling 552 shares during the quarter. Mutual of America Capital Management LLC’s holdings in T. Rowe Price Group were worth $3,579,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Fisher Asset Management LLC boosted its stake in shares of T. Rowe Price Group by 6.7% in the 4th quarter. Fisher Asset Management LLC now owns 1,752,005 shares of the asset manager’s stock valued at $188,674,000 after purchasing an additional 109,653 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of T. Rowe Price Group by 21.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,352,683 shares of the asset manager’s stock valued at $145,685,000 after purchasing an additional 236,697 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of T. Rowe Price Group by 1.3% in the 4th quarter. First Trust Advisors LP now owns 1,173,858 shares of the asset manager’s stock valued at $126,413,000 after purchasing an additional 15,504 shares in the last quarter. Confluence Investment Management LLC purchased a new stake in shares of T. Rowe Price Group in the 1st quarter valued at $130,386,000. Finally, UBS Group AG boosted its position in T. Rowe Price Group by 473.3% during the 4th quarter. UBS Group AG now owns 975,226 shares of the asset manager’s stock valued at $105,022,000 after buying an additional 805,106 shares during the period. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock opened at $117.17 on Friday. The firm has a market cap of $26.16 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 1.96 and a beta of 1.42. T. Rowe Price Group, Inc. has a 1 year low of $87.43 and a 1 year high of $132.76. The company has a 50-day moving average of $115.72 and a 200 day moving average of $113.35.

T. Rowe Price Group (NASDAQ:TROW) last released 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. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.71 billion. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. T. Rowe Price Group’s revenue was up 13.8% compared to the same quarter last year. During the same period last year, the business earned $1.69 EPS. On average, equities analysts anticipate that T. Rowe Price Group, Inc. will post 8.93 EPS for the current year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Friday, June 14th were paid a dividend of $1.24 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $4.96 dividend on an annualized basis and a yield of 4.23%. T. Rowe Price Group’s dividend payout ratio is currently 58.91%.

Analyst Ratings Changes

Several brokerages have weighed in on TROW. Keefe, Bruyette & Woods raised shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and increased their price target for the company from $106.00 to $120.00 in a research report on Thursday, April 11th. UBS Group increased their price target on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research report on Friday, April 12th. Morgan Stanley increased 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. increased their price target on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a research report on Tuesday, April 16th. Finally, TD Cowen raised their target price on shares of T. Rowe Price Group from $121.00 to $123.00 and gave the stock a “hold” rating in a research report on Monday. Four research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $113.00.

Insider Buying and Selling at T. Rowe Price Group

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

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.