Siemens Fonds Invest GmbH Buys 46,787 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Siemens Fonds Invest GmbH lifted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1,019.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,378 shares of the asset manager’s stock after acquiring an additional 46,787 shares during the period. Siemens Fonds Invest GmbH’s holdings in T. Rowe Price Group were worth $5,810,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Addison Advisors LLC raised its stake in shares of T. Rowe Price Group by 67.4% in the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 93 shares during the period. Curio Wealth LLC bought a new position in shares of T. Rowe Price Group during the fourth quarter worth about $27,000. Y.D. More Investments Ltd raised its position in T. Rowe Price Group by 124.0% in the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock valued at $32,000 after buying an additional 155 shares during the last quarter. Stonebridge Financial Group LLC bought a new stake in T. Rowe Price Group in the 4th quarter valued at approximately $32,000. Finally, Advantage Trust Co lifted its stake in T. Rowe Price Group by 48.8% in the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock valued at $34,000 after acquiring an additional 100 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Price Performance

NASDAQ:TROW opened at $97.65 on Friday. The company has a market cap of $21.51 billion, a P/E ratio of 10.66, a P/E/G ratio of 2.86 and a beta of 1.50. The firm’s fifty day moving average price is $90.42 and its two-hundred day moving average price is $105.89. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $125.81.

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

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be issued a dividend of $1.27 per share. The ex-dividend date is Friday, June 13th. This represents a $5.08 annualized dividend and a yield of 5.20%. T. Rowe Price Group’s payout ratio is currently 57.60%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Cowen reaffirmed a “hold” rating on shares of T. Rowe Price Group in a research note on Monday, May 5th. The Goldman Sachs Group decreased their target price on shares of T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating for the company in a research report on Monday, April 14th. Bank of America reduced their price objective on shares of T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating for the company in a research note on Thursday, April 3rd. Morgan Stanley lifted their target price on T. Rowe Price Group from $94.00 to $95.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 6th. Finally, StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Four investment analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $94.09.

Insider Activity at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,955 shares of the business’s stock in a transaction dated 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 sale, the director now owns 42,979 shares of the company’s stock, valued at approximately $3,935,157.24. The trade was a 8.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jessica M. Hiebler sold 968 shares of the firm’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $96.98, for a total transaction of $93,876.64. Following the transaction, the insider now directly owns 13,611 shares in the company, valued at approximately $1,319,994.78. This represents a 6.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.

About T. Rowe Price Group

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.