Highlander Capital Management LLC acquired a new stake in T. Rowe Price Group Inc (NASDAQ:TROW) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,000 shares of the asset manager’s stock, valued at approximately $1,047,000.

Several other hedge funds have also recently added to or reduced their stakes in TROW. Guggenheim Capital LLC grew its stake in T. Rowe Price Group by 17.5% in the fourth quarter. Guggenheim Capital LLC now owns 807,029 shares of the asset manager’s stock valued at $84,680,000 after purchasing an additional 119,957 shares during the last quarter. Macquarie Group Ltd. grew its stake in shares of T. Rowe Price Group by 1.9% during the fourth quarter. Macquarie Group Ltd. now owns 48,009 shares of the asset manager’s stock worth $5,282,000 after acquiring an additional 883 shares during the last quarter. BlackRock Inc. grew its stake in shares of T. Rowe Price Group by 5.2% during the fourth quarter. BlackRock Inc. now owns 17,331,073 shares of the asset manager’s stock worth $1,818,551,000 after acquiring an additional 851,752 shares during the last quarter. Rhumbline Advisers grew its stake in shares of T. Rowe Price Group by 2.1% during the fourth quarter. Rhumbline Advisers now owns 480,858 shares of the asset manager’s stock worth $50,456,000 after acquiring an additional 10,089 shares during the last quarter. Finally, Carnegie Capital Asset Management LLC purchased a new stake in shares of T. Rowe Price Group during the fourth quarter worth about $6,141,000. Hedge funds and other institutional investors own 72.10% of the company’s stock.

T. Rowe Price Group traded down $0.87, reaching $124.45, during trading hours on Thursday, Marketbeat reports. The company had a trading volume of 5,806 shares, compared to its average volume of 1,568,542. T. Rowe Price Group Inc has a 1-year low of $72.09 and a 1-year high of $127.43. The company has a market capitalization of $30.48 billion, a PE ratio of 23.13, a PEG ratio of 1.64 and a beta of 1.22.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Wednesday, April 25th. The asset manager reported $1.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.65 by $0.09. T. Rowe Price Group had a return on equity of 26.93% and a net margin of 31.10%. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the previous year, the company posted $1.18 earnings per share. T. Rowe Price Group’s revenue for the quarter was up 17.3% on a year-over-year basis. equities research analysts anticipate that T. Rowe Price Group Inc will post 7.01 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend is Thursday, June 14th. T. Rowe Price Group’s payout ratio is presently 51.57%.

T. Rowe Price Group declared that its Board of Directors has authorized a stock buyback program on Thursday, April 26th that allows the company to buyback 10,000,000 shares. This buyback authorization allows the asset manager to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

A number of equities research analysts have recently weighed in on TROW shares. Credit Suisse Group restated a “neutral” rating and set a $123.00 price target (up previously from $121.00) on shares of T. Rowe Price Group in a research note on Thursday, February 22nd. Citigroup dropped their price target on T. Rowe Price Group from $120.00 to $115.00 and set a “neutral” rating on the stock in a research note on Thursday, February 22nd. Morgan Stanley set a $113.00 price target on T. Rowe Price Group and gave the stock a “hold” rating in a research note on Thursday, February 22nd. BidaskClub raised T. Rowe Price Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 27th. Finally, Deutsche Bank lifted their target price on T. Rowe Price Group from $115.00 to $116.00 and gave the stock a “hold” rating in a report on Tuesday, March 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. T. Rowe Price Group has an average rating of “Hold” and an average price target of $113.10.

In other news, Director Robert F. Maclellan sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 30th. The stock was sold at an average price of $122.58, for a total transaction of $612,900.00. Following the completion of the transaction, the director now directly owns 13,769 shares of the company’s stock, valued at approximately $1,687,804.02. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO William J. Stromberg sold 21,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 12th. The stock was sold at an average price of $125.48, for a total value of $2,635,080.00. Following the transaction, the chief executive officer now directly owns 539,020 shares of the company’s stock, valued at $67,636,229.60. The disclosure for this sale can be found here. Insiders sold 62,000 shares of company stock valued at $7,796,220 over the last three months. 3.10% of the stock is currently 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.

Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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