First Republic Investment Management Inc. Has $13.66 Million Stake in T. Rowe Price Group, Inc. (TROW)

First Republic Investment Management Inc. lifted its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 150,639 shares of the asset manager’s stock after purchasing an additional 6,714 shares during the quarter. First Republic Investment Management Inc. owned approximately 0.06% of T. Rowe Price Group worth $13,655,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bronfman E.L. Rothschild L.P. boosted its holdings in shares of T. Rowe Price Group by 6.9% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,593 shares of the asset manager’s stock worth $118,000 after buying an additional 103 shares during the period. Signature Estate & Investment Advisors LLC bought a new stake in shares of T. Rowe Price Group during the 3rd quarter worth $118,000. Grove Bank & Trust boosted its holdings in shares of T. Rowe Price Group by 178.7% during the 3rd quarter. Grove Bank & Trust now owns 1,310 shares of the asset manager’s stock worth $119,000 after buying an additional 840 shares during the period. Quadrant Capital Group LLC boosted its holdings in shares of T. Rowe Price Group by 5.4% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,749 shares of the asset manager’s stock worth $121,000 after buying an additional 89 shares during the period. Finally, Sun Life Financial INC boosted its holdings in shares of T. Rowe Price Group by 19,500.0% during the 2nd quarter. Sun Life Financial INC now owns 1,764 shares of the asset manager’s stock worth $131,000 after buying an additional 1,755 shares during the period. Institutional investors own 72.21% of the company’s stock.

Several analysts recently issued reports on TROW shares. Zacks Investment Research raised shares of T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a report on Tuesday, September 12th. Jefferies Group reaffirmed a “buy” rating and set a $96.00 price objective on shares of T. Rowe Price Group in a report on Sunday, August 20th. Goldman Sachs Group raised shares of T. Rowe Price Group from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $85.00 to $100.00 in a report on Thursday, September 28th. Morgan Stanley raised shares of T. Rowe Price Group from an “underweight” rating to an “equal” rating and upped their price objective for the stock from $77.00 to $93.00 in a report on Thursday, October 5th. Finally, Citigroup increased their price target on shares of T. Rowe Price Group from $94.00 to $95.00 and gave the company a “neutral” rating in a report on Friday, October 27th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $89.67.

Shares of T. Rowe Price Group, Inc. (NASDAQ TROW) opened at $102.74 on Friday. T. Rowe Price Group, Inc. has a 1-year low of $65.33 and a 1-year high of $104.40. The firm has a market cap of $24,664.73, a price-to-earnings ratio of 19.88, a price-to-earnings-growth ratio of 1.87 and a beta of 1.32.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Thursday, October 26th. The asset manager reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.20. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. T. Rowe Price Group had a net margin of 33.10% and a return on equity of 24.76%. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period last year, the firm earned $1.17 EPS. equities analysts anticipate that T. Rowe Price Group, Inc. will post 5.29 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, December 14th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend is Wednesday, December 13th. T. Rowe Price Group’s payout ratio is 37.38%.

In other news, VP W. Sharps Robert sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $98.64, for a total transaction of $493,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kenneth V. Moreland sold 15,082 shares of the stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $99.44, for a total transaction of $1,499,754.08. Following the sale, the chief financial officer now owns 110,182 shares of the company’s stock, valued at approximately $10,956,498.08. The disclosure for this sale can be found here. Insiders have sold a total of 81,705 shares of company stock valued at $7,861,938 over the last ninety days. 3.60% of the stock is owned by insiders.

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T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.

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

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