Commerce Bank Has $10.26 Million Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Commerce Bank grew its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 95,240 shares of the asset manager’s stock after purchasing an additional 5,263 shares during the quarter. Commerce Bank’s holdings in T. Rowe Price Group were worth $10,256,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in TROW. US Bancorp DE boosted its position in T. Rowe Price Group by 2.2% during the 4th quarter. US Bancorp DE now owns 63,705 shares of the asset manager’s stock worth $6,860,000 after buying an additional 1,348 shares during the period. Affinity Investment Advisors LLC bought a new stake in shares of T. Rowe Price Group in the fourth quarter worth $234,000. Aigen Investment Management LP bought a new position in T. Rowe Price Group during the 4th quarter worth $814,000. Columbia Asset Management bought a new position in T. Rowe Price Group during the 4th quarter worth $274,000. Finally, Quest Partners LLC bought a new stake in shares of T. Rowe Price Group in the 4th quarter valued at about $928,000. 73.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on TROW shares. TD Cowen upgraded T. Rowe Price Group from a “sell” rating to a “hold” rating and raised their price objective for the stock from $92.00 to $114.00 in a research report on Monday, April 8th. UBS Group boosted their price target on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a research report on Friday, April 12th. Morgan Stanley lifted their target price on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 17th. Evercore ISI cut their price target on shares of T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 30th. Finally, Citigroup lifted their price objective on T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Four analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $112.10.

Insiders Place Their Bets

In related news, Director Robert F. Maclellan sold 3,043 shares of T. Rowe Price Group stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $113.08, for a total transaction of $344,102.44. Following the transaction, the director now owns 34,635 shares of the company’s stock, valued at $3,916,525.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Robert F. Maclellan sold 3,043 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $113.08, for a total transaction of $344,102.44. Following the transaction, the director now directly owns 34,635 shares of the company’s stock, valued at $3,916,525.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the transaction, the director now owns 21,073 shares in the company, valued at $2,493,357.36. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock traded up $1.29 during mid-day trading on Friday, reaching $118.20. The stock had a trading volume of 795,117 shares, compared to its average volume of 1,366,840. T. Rowe Price Group, Inc. has a fifty-two week low of $87.43 and a fifty-two week high of $132.76. The stock’s 50-day simple moving average is $115.04 and its 200-day simple moving average is $109.48. The firm has a market capitalization of $26.39 billion, a PE ratio of 14.04, a price-to-earnings-growth ratio of 2.01 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.34. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter last year, the firm posted $1.69 EPS. T. Rowe Price Group’s revenue was up 13.8% compared to the same quarter last year. On average, research analysts forecast that T. Rowe Price Group, Inc. will post 8.8 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Friday, June 14th will be given a $1.24 dividend. The ex-dividend date is Friday, June 14th. This represents a $4.96 annualized dividend and a yield of 4.20%. T. Rowe Price Group’s payout ratio is 58.91%.

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.