Rowlandmiller & PARTNERS.ADV Has $3.51 Million Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Rowlandmiller & PARTNERS.ADV trimmed its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 7.3% during the first quarter, Holdings Channel.com reports. The institutional investor owned 38,201 shares of the asset manager’s stock after selling 3,020 shares during the period. Rowlandmiller & PARTNERS.ADV’s holdings in T. Rowe Price Group were worth $3,510,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in TROW. Vanguard Group Inc. increased its stake in shares of T. Rowe Price Group by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 26,063,837 shares of the asset manager’s stock worth $2,947,559,000 after purchasing an additional 135,203 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in T. Rowe Price Group by 5.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager’s stock worth $812,798,000 after buying an additional 346,369 shares during the last quarter. Fayez Sarofim & Co increased its position in T. Rowe Price Group by 7.6% during the fourth quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager’s stock worth $684,474,000 after buying an additional 425,142 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of T. Rowe Price Group by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 5,631,429 shares of the asset manager’s stock worth $635,260,000 after acquiring an additional 116,231 shares during the last quarter. Finally, Provident Trust Co. increased its holdings in shares of T. Rowe Price Group by 8.9% during the 4th quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager’s stock worth $295,311,000 after acquiring an additional 213,566 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Jessica M. Hiebler sold 968 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $96.98, for a total transaction of $93,876.64. Following the sale, the insider now owns 13,611 shares in the company, valued at approximately $1,319,994.78. This trade represents a 6.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert F. Maclellan sold 3,955 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 42,979 shares in the company, valued at approximately $3,935,157.24. This represents a 8.43% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $95.93 on Wednesday. The company has a market capitalization of $21.13 billion, a P/E ratio of 10.47, a P/E/G ratio of 2.86 and a beta of 1.49. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81. The business’s 50 day simple moving average is $90.92 and its 200 day simple moving average is $103.06.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.10. The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.80 billion. T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. T. Rowe Price Group’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.38 EPS. On average, 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 will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid 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 5.30%. T. Rowe Price Group’s payout ratio is 57.60%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Cowen reissued a “hold” rating on shares of T. Rowe Price Group in a report on Monday, May 5th. Wells Fargo & Company decreased their price objective on shares of T. Rowe Price Group from $116.00 to $98.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. Citigroup decreased their price target on shares of T. Rowe Price Group from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Barclays upped their price target on shares of T. Rowe Price Group from $85.00 to $90.00 and gave the company an “underweight” rating in a research note on Monday, May 5th. Finally, Morgan Stanley upped 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. Four research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. Based on data from MarketBeat.com, T. Rowe Price Group currently has an average rating of “Hold” and a consensus price target of $94.09.

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.