Silvercrest Asset Management Group LLC Purchases 74,508 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Silvercrest Asset Management Group LLC grew its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3,824.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,456 shares of the asset manager’s stock after purchasing an additional 74,508 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in T. Rowe Price Group were worth $8,646,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of TROW. Barclays PLC lifted its holdings in T. Rowe Price Group by 13.6% in the 3rd quarter. Barclays PLC now owns 822,869 shares of the asset manager’s stock worth $89,635,000 after purchasing an additional 98,448 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of T. Rowe Price Group by 1,803.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 70,533 shares of the asset manager’s stock worth $7,977,000 after acquiring an additional 66,828 shares during the last quarter. Park Avenue Securities LLC bought a new position in shares of T. Rowe Price Group during the fourth quarter worth $474,000. Hennion & Walsh Asset Management Inc. grew its stake in T. Rowe Price Group by 7.9% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 14,007 shares of the asset manager’s stock valued at $1,584,000 after acquiring an additional 1,021 shares in the last quarter. Finally, Avanza Fonder AB bought a new stake in T. Rowe Price Group in the 4th quarter valued at $2,085,000. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW opened at $98.06 on Monday. T. Rowe Price Group, Inc. has a 1-year low of $77.85 and a 1-year high of $125.81. The business has a fifty day moving average price of $90.46 and a 200 day moving average price of $105.73. The stock has a market capitalization of $21.60 billion, a P/E ratio of 10.71, a price-to-earnings-growth ratio of 2.86 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, May 2nd. The asset manager reported $2.23 EPS for the quarter, beating the consensus estimate of $2.13 by $0.10. T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. The business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period in the prior year, the firm posted $2.38 earnings per share. The company’s quarterly revenue was up .8% on a year-over-year basis. As a group, equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be given a dividend of $1.27 per share. The ex-dividend date is Friday, June 13th. This represents a $5.08 dividend on an annualized basis and a yield of 5.18%. T. Rowe Price Group’s payout ratio is 57.60%.

Insider Buying and Selling at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,955 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $91.56, for a total value of $362,119.80. Following the completion of the transaction, the director now directly owns 42,979 shares of the company’s stock, valued at $3,935,157.24. This trade represents a 8.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jessica M. Hiebler sold 968 shares of T. Rowe Price Group stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $96.98, for a total transaction of $93,876.64. Following the completion of the sale, the insider now owns 13,611 shares of the company’s stock, valued at $1,319,994.78. This trade represents a 6.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

TROW has been the subject of several research reports. Barclays increased their price objective on shares of T. Rowe Price Group from $85.00 to $90.00 and gave the company an “underweight” rating in a report on Monday, May 5th. Evercore ISI cut their target price on shares of T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating for the company in a report on Friday, April 11th. The Goldman Sachs Group reduced their price target on shares of T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating on the stock in a research report on Monday, April 14th. Citigroup decreased their price objective on T. Rowe Price Group from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Finally, Cowen reissued a “hold” rating on shares of T. Rowe Price Group in a research note on Monday, May 5th. Four investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to data from MarketBeat, T. Rowe Price Group has a consensus rating of “Hold” and a consensus target price of $94.09.

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.