T. Rowe Price Group Inc (TROW) Shares Bought by First Republic Investment Management Inc.

First Republic Investment Management Inc. boosted its position in T. Rowe Price Group Inc (NASDAQ:TROW) by 3.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 156,339 shares of the asset manager’s stock after buying an additional 4,703 shares during the quarter. First Republic Investment Management Inc. owned approximately 0.06% of T. Rowe Price Group worth $16,880,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of TROW. Natixis Advisors L.P. boosted its holdings in T. Rowe Price Group by 2.2% in the 1st quarter. Natixis Advisors L.P. now owns 34,803 shares of the asset manager’s stock valued at $3,758,000 after purchasing an additional 744 shares during the period. Stratos Wealth Partners LTD. lifted its holdings in shares of T. Rowe Price Group by 39.5% during the 1st quarter. Stratos Wealth Partners LTD. now owns 4,644 shares of the asset manager’s stock worth $502,000 after acquiring an additional 1,314 shares during the period. Toronto Dominion Bank lifted its holdings in shares of T. Rowe Price Group by 26.1% during the 1st quarter. Toronto Dominion Bank now owns 131,695 shares of the asset manager’s stock worth $14,215,000 after acquiring an additional 27,278 shares during the period. BTC Capital Management Inc. bought a new position in shares of T. Rowe Price Group during the 1st quarter worth about $246,000. Finally, Scout Investments Inc. lifted its holdings in shares of T. Rowe Price Group by 15.9% during the 1st quarter. Scout Investments Inc. now owns 133,013 shares of the asset manager’s stock worth $14,361,000 after acquiring an additional 18,232 shares during the period. Institutional investors and hedge funds own 72.04% of the company’s stock.

A number of equities analysts have recently commented on the stock. Morgan Stanley set a $113.00 price objective on shares of T. Rowe Price Group and gave the stock a “hold” rating in a report on Thursday, February 22nd. UBS reduced their price objective on shares of T. Rowe Price Group from $125.00 to $117.00 and set a “neutral” rating for the company in a report on Thursday. TheStreet raised shares of T. Rowe Price Group from a “c+” rating to a “b+” rating in a report on Monday, March 5th. Zacks Investment Research raised shares of T. Rowe Price Group from a “sell” rating to a “hold” rating in a report on Tuesday, April 24th. Finally, Jefferies Group raised shares of T. Rowe Price Group from a “neutral” rating to a “hold” rating in a report on Thursday, May 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. T. Rowe Price Group currently has an average rating of “Hold” and an average price target of $113.10.

Shares of T. Rowe Price Group opened at $121.38 on Friday, Marketbeat.com reports. T. Rowe Price Group Inc has a 12-month low of $69.04 and a 12-month high of $123.47. The stock has a market cap of $29.39 billion, a P/E ratio of 22.35, a PEG ratio of 1.60 and a beta of 1.21.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Wednesday, April 25th. The asset manager reported $1.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.09. T. Rowe Price Group had a net margin of 31.10% and a return on equity of 26.93%. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period last year, the firm posted $1.18 EPS. The firm’s quarterly revenue was up 17.3% on a year-over-year basis. equities analysts predict that T. Rowe Price Group Inc will post 7.01 earnings per share for the current fiscal year.

T. Rowe Price Group declared that its Board of Directors has initiated a stock repurchase plan on Thursday, April 26th that permits the company to buyback 10,000,000 shares. This buyback authorization permits the asset manager to purchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 15th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.31%. The ex-dividend date is Thursday, June 14th. T. Rowe Price Group’s dividend payout ratio is currently 51.57%.

T. Rowe Price Group Company 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.

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

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