T. Rowe Price Group Inc (NASDAQ:TROW) Position Lifted by Hendley & Co. Inc.

Hendley & Co. Inc. raised its holdings in shares of T. Rowe Price Group Inc (NASDAQ:TROW) by 2.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 58,031 shares of the asset manager’s stock after purchasing an additional 1,125 shares during the period. T. Rowe Price Group accounts for about 3.0% of Hendley & Co. Inc.’s portfolio, making the stock its 12th largest position. Hendley & Co. Inc.’s holdings in T. Rowe Price Group were worth $5,810,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of TROW. Northwest Investment Counselors LLC increased its holdings in T. Rowe Price Group by 0.7% in the 1st quarter. Northwest Investment Counselors LLC now owns 13,426 shares of the asset manager’s stock worth $1,344,000 after acquiring an additional 96 shares in the last quarter. Curbstone Financial Management Corp boosted its position in shares of T. Rowe Price Group by 1.3% during the 1st quarter. Curbstone Financial Management Corp now owns 7,590 shares of the asset manager’s stock valued at $760,000 after acquiring an additional 100 shares during the last quarter. Unison Advisors LLC lifted its position in T. Rowe Price Group by 0.8% in the first quarter. Unison Advisors LLC now owns 13,484 shares of the asset manager’s stock valued at $1,350,000 after buying an additional 101 shares during the last quarter. Mid Atlantic Financial Management Inc. ADV lifted its position in T. Rowe Price Group by 1.4% in the first quarter. Mid Atlantic Financial Management Inc. ADV now owns 7,352 shares of the asset manager’s stock valued at $736,000 after buying an additional 103 shares during the last quarter. Finally, ETF Managers Group LLC lifted its position in T. Rowe Price Group by 8.6% in the first quarter. ETF Managers Group LLC now owns 1,344 shares of the asset manager’s stock valued at $135,000 after buying an additional 107 shares during the last quarter. 69.32% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group stock opened at $105.94 on Monday. The stock has a market cap of $25.05 billion, a P/E ratio of 14.82, a P/E/G ratio of 1.57 and a beta of 1.05. T. Rowe Price Group Inc has a 52 week low of $84.59 and a 52 week high of $125.40. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.74 and a quick ratio of 3.74.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Wednesday, April 24th. The asset manager reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.26. The firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.29 billion. T. Rowe Price Group had a return on equity of 28.93% and a net margin of 35.05%. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.74 EPS. As a group, sell-side analysts forecast that T. Rowe Price Group Inc will post 7.5 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 2.87%. The ex-dividend date is Thursday, June 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is 42.52%.

A number of analysts recently weighed in on the stock. Bank of America restated a “buy” rating and set a $107.00 target price (up from $102.00) on shares of T. Rowe Price Group in a research note on Friday, March 8th. Wells Fargo & Co increased their price objective on T. Rowe Price Group from $92.00 to $102.00 and gave the company a “market perform” rating in a report on Wednesday, February 27th. Citigroup raised their target price on T. Rowe Price Group from $91.00 to $98.00 and gave the company a “neutral” rating in a report on Wednesday, February 27th. Deutsche Bank raised their target price on T. Rowe Price Group from $91.00 to $94.00 and gave the company a “hold” rating in a report on Friday, March 15th. Finally, Barclays raised their target price on T. Rowe Price Group from $85.00 to $88.00 and gave the company an “underweight” rating in a report on Tuesday, February 19th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $106.75.

In other T. Rowe Price Group news, VP Scott B. David sold 45,118 shares of T. Rowe Price Group stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $107.88, for a total value of $4,867,329.84. Following the completion of the sale, the vice president now owns 48,454 shares in the company, valued at approximately $5,227,217.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mary K. Bush sold 3,500 shares of T. Rowe Price Group stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $107.06, for a total value of $374,710.00. Following the completion of the sale, the director now owns 19,243 shares of the company’s stock, valued at approximately $2,060,155.58. The disclosure for this sale can be found here. Insiders sold a total of 68,618 shares of company stock valued at $7,400,440 in the last 90 days. 3.10% of the stock is owned by company insiders.

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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.

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

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