American National Bank Buys Shares of 5,633 T. Rowe Price Group Inc (TROW)

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American National Bank bought a new position in T. Rowe Price Group Inc (NASDAQ:TROW) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 5,633 shares of the asset manager’s stock, valued at approximately $564,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Reilly Financial Advisors LLC raised its position in T. Rowe Price Group by 66.3% in the 4th quarter. Reilly Financial Advisors LLC now owns 296 shares of the asset manager’s stock worth $27,000 after purchasing an additional 118 shares during the last quarter. Ruggie Capital Group bought a new position in T. Rowe Price Group in the 4th quarter worth approximately $28,000. Financial Gravity Companies Inc. bought a new position in T. Rowe Price Group in the 4th quarter worth approximately $30,000. Pearl River Capital LLC bought a new position in T. Rowe Price Group in the 4th quarter worth approximately $31,000. Finally, Rational Advisors LLC raised its position in T. Rowe Price Group by 306.7% in the 4th quarter. Rational Advisors LLC now owns 366 shares of the asset manager’s stock worth $34,000 after purchasing an additional 276 shares during the last quarter. 72.65% of the stock is currently owned by institutional investors and hedge funds.

Several research firms recently weighed in on TROW. Jefferies Financial Group boosted their price objective on shares of T. Rowe Price Group from $103.00 to $119.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Credit Suisse Group dropped their price objective on shares of T. Rowe Price Group from $115.00 to $107.00 and set an “outperform” rating for the company in a research report on Monday, January 14th. Bank of America set a $112.00 price objective on shares of T. Rowe Price Group and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Zacks Investment Research upgraded shares of T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $116.00 price objective for the company in a research report on Wednesday, April 3rd. Finally, Goldman Sachs Group cut shares of T. Rowe Price Group from a “buy” rating to a “neutral” rating and set a $93.00 price objective for the company. in a research report on Friday, January 4th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. T. Rowe Price Group has a consensus rating of “Hold” and a consensus target price of $105.33.

Shares of T. Rowe Price Group stock opened at $105.90 on Monday. The firm has a market cap of $24.79 billion, a price-to-earnings ratio of 14.81, a price-to-earnings-growth ratio of 1.79 and a beta of 1.04. T. Rowe Price Group Inc has a 52 week low of $84.59 and a 52 week high of $127.43.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Wednesday, January 30th. The asset manager reported $1.41 EPS for the quarter, missing the Zacks’ consensus estimate of $1.66 by ($0.25). T. Rowe Price Group had a net margin of 33.95% and a return on equity of 29.16%. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the company earned $1.52 EPS. T. Rowe Price Group’s quarterly revenue was up 1.1% on a year-over-year basis. On average, equities research analysts forecast that T. Rowe Price Group Inc will post 6.73 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $0.76 dividend. The ex-dividend date was Thursday, March 14th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 2.87%. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $0.70. T. Rowe Price Group’s dividend payout ratio is currently 42.52%.

In related news, VP Christopher D. Alderson sold 104,465 shares of the company’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $96.94, for a total value of $10,126,837.10. Following the completion of the transaction, the vice president now directly owns 401,164 shares of the company’s stock, valued at approximately $38,888,838.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP W. Sharps Robert sold 2,617 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $100.73, for a total transaction of $263,610.41. Following the completion of the transaction, the vice president now directly owns 448,651 shares of the company’s stock, valued at $45,192,615.23. The disclosure for this sale can be found here. In the last 90 days, insiders sold 117,082 shares of company stock valued at $11,361,948. 3.10% of the stock is owned by corporate insiders.

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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.

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Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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