Manchester Capital Management LLC Purchases 242 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Manchester Capital Management LLC increased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 270,085 shares of the asset manager’s stock after acquiring an additional 242 shares during the period. T. Rowe Price Group comprises 3.0% of Manchester Capital Management LLC’s holdings, making the stock its 4th largest holding. Manchester Capital Management LLC owned approximately 0.12% of T. Rowe Price Group worth $24,813,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Ameriflex Group Inc. bought a new position in T. Rowe Price Group in the 4th quarter valued at approximately $42,000. Hexagon Capital Partners LLC lifted its stake in T. Rowe Price Group by 44.8% in the 1st quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 113 shares during the last quarter. Smallwood Wealth Investment Management LLC bought a new position in T. Rowe Price Group in the 1st quarter valued at approximately $39,000. Chilton Capital Management LLC bought a new position in T. Rowe Price Group in the 1st quarter valued at approximately $41,000. Finally, Wayfinding Financial LLC bought a new position in T. Rowe Price Group in the 1st quarter valued at approximately $43,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Stock Up 1.6%

TROW opened at $103.06 on Friday. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81. The company has a fifty day moving average of $98.38 and a 200-day moving average of $98.31. The stock has a market cap of $22.71 billion, a PE ratio of 11.52, a price-to-earnings-growth ratio of 3.03 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.09. T. Rowe Price Group had a net margin of 28.38% and a return on equity of 20.17%. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the prior year, the company posted $2.26 earnings per share. T. Rowe Price Group’s revenue for the quarter was down .6% compared to the same quarter last year. Sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were given a dividend of $1.27 per share. The ex-dividend date was Friday, June 13th. This represents a $5.08 annualized dividend and a dividend yield of 4.9%. T. Rowe Price Group’s dividend payout ratio is 57.60%.

Wall Street Analysts Forecast Growth

TROW has been the subject of several research reports. Barclays increased their price objective on shares of T. Rowe Price Group from $90.00 to $91.00 and gave the company an “underweight” rating in a research note on Wednesday, July 16th. Citigroup dropped their price target on shares of T. Rowe Price Group from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Morgan Stanley raised their price target on shares of T. Rowe Price Group from $95.00 to $104.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 2nd. The Goldman Sachs Group dropped their price target on shares of T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating for the company in a research note on Monday, April 14th. Finally, JPMorgan Chase & Co. raised their price target on shares of T. Rowe Price Group from $90.00 to $98.00 and gave the company an “underweight” rating in a research note on Wednesday, July 16th. Four research analysts have rated the stock with a sell rating and nine have given a hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $96.64.

Insiders Place Their Bets

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 968 shares of the firm’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $96.98, for a total value of $93,876.64. Following the completion of the sale, the insider directly owned 13,611 shares in the company, valued at approximately $1,319,994.78. This trade represents a 6.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Dorothy C. Sawyer sold 2,000 shares of the firm’s stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total transaction of $190,860.00. Following the completion of the sale, the vice president owned 44,789 shares of the company’s stock, valued at $4,274,214.27. The trade was a 4.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

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.