O Shaughnessy Asset Management LLC Buys 4,938 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

O Shaughnessy Asset Management LLC raised its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 44.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,040 shares of the asset manager’s stock after buying an additional 4,938 shares during the period. O Shaughnessy Asset Management LLC’s holdings in T. Rowe Price Group were worth $1,956,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. First United Bank & Trust bought a new stake in shares of T. Rowe Price Group in the 4th quarter valued at about $31,000. Park Place Capital Corp boosted its position 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 valued at $32,000 after purchasing an additional 284 shares in the last quarter. CVA Family Office LLC bought a new stake in shares of T. Rowe Price Group during the 4th quarter valued at about $39,000. Signature Resources Capital Management LLC bought a new stake in shares of T. Rowe Price Group during the 4th quarter valued at about $39,000. Finally, Scarborough Advisors LLC bought a new stake in shares of T. Rowe Price Group during the 4th quarter valued at about $47,000. Institutional investors own 73.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on TROW shares. Morgan Stanley upped 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. TD Cowen upped their target price on T. Rowe Price Group from $121.00 to $123.00 and gave the company a “hold” rating in a research report on Monday, July 8th. Keefe, Bruyette & Woods upped their target price on T. Rowe Price Group from $120.00 to $121.00 and gave the company a “market perform” rating in a research report on Friday, July 12th. Citigroup upped their target price on T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Finally, JPMorgan Chase & Co. increased their price target on T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a report on Tuesday. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $113.50.

T. Rowe Price Group Stock Down 2.2 %

Shares of T. Rowe Price Group stock opened at $114.38 on Thursday. The company has a market cap of $25.54 billion, a PE ratio of 13.58, a price-to-earnings-growth ratio of 1.69 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. The business has a 50 day moving average price of $116.58 and a 200-day moving average price of $113.99.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, topping the consensus estimate of $2.04 by $0.34. The firm 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%. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.69 earnings per share. As a group, research analysts anticipate that T. Rowe Price Group, Inc. will post 9.03 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The business 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. This represents a $4.96 annualized dividend and a dividend yield of 4.34%. The ex-dividend date was Friday, June 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 58.91%.

Insider Transactions at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 1,401 shares of the stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total transaction 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Robert F. Maclellan sold 3,043 shares of the 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 directly owns 34,635 shares of the company’s stock, valued at $3,916,525.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jessica M. Hiebler sold 1,401 shares of the business’s stock in a transaction on Thursday, June 27th. The shares were 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 owns 14,198 shares in the company, valued at $1,644,838.30. The disclosure for this sale can be found here. Insiders sold a total of 6,444 shares of company stock valued at $740,408 over the last ninety days. 2.00% of the stock is currently owned by insiders.

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.