Cypress Asset Management Inc. TX Buys New Shares in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Cypress Asset Management Inc. TX bought a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,575 shares of the asset manager’s stock, valued at approximately $277,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TROW. Teacher Retirement System of Texas lifted its stake in T. Rowe Price Group by 2.5% during the third quarter. Teacher Retirement System of Texas now owns 17,401 shares of the asset manager’s stock valued at $1,825,000 after purchasing an additional 428 shares during the last quarter. Corient Private Wealth LLC lifted its stake in T. Rowe Price Group by 4.0% during the third quarter. Corient Private Wealth LLC now owns 440,519 shares of the asset manager’s stock valued at $46,195,000 after purchasing an additional 16,941 shares during the last quarter. Syon Capital LLC acquired a new stake in T. Rowe Price Group during the third quarter valued at approximately $223,000. NBC Securities Inc. acquired a new stake in T. Rowe Price Group during the third quarter valued at approximately $39,000. Finally, Achmea Investment Management B.V. lifted its position in shares of T. Rowe Price Group by 4.7% in the 3rd quarter. Achmea Investment Management B.V. now owns 113,342 shares of the asset manager’s stock valued at $11,887,000 after acquiring an additional 5,110 shares in the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Stock Up 0.7 %

Shares of TROW traded up $0.81 during mid-day trading on Friday, hitting $117.72. 391,120 shares of the company’s stock were exchanged, compared to its average volume of 1,402,833. The firm has a fifty day moving average of $114.98 and a two-hundred day moving average of $109.32. T. Rowe Price Group, Inc. has a twelve month low of $87.43 and a twelve month high of $132.76. The stock has a market cap of $26.29 billion, a price-to-earnings ratio of 13.88, a P/E/G ratio of 2.02 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, topping 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 company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the prior year, the business posted $1.69 EPS. T. Rowe Price Group’s quarterly revenue was up 13.8% on a year-over-year basis. On average, equities analysts predict that T. Rowe Price Group, Inc. will post 8.8 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, June 14th will be paid a dividend of $1.24 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $4.96 annualized dividend and a dividend yield of 4.21%. T. Rowe Price Group’s dividend payout ratio (DPR) is 58.91%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on TROW shares. Wells Fargo & Company upped their price target on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a research report on Friday, February 9th. Citigroup upped their price target on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. TD Cowen upgraded shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and upped their price target for the company from $92.00 to $114.00 in a research report on Monday, April 8th. JPMorgan Chase & Co. upped their price target on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a research report on Tuesday, April 16th. Finally, Evercore ISI reduced their price target on shares of T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating for the company in a research report on Tuesday, April 30th. Four research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $112.10.

Insider Activity at T. Rowe Price Group

In related news, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $118.32, for a total value of $1,034,116.80. Following the transaction, the director now directly owns 21,073 shares in the company, valued at approximately $2,493,357.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,043 shares of the firm’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $113.08, for a total value of $344,102.44. Following the sale, the director now directly owns 34,635 shares in the company, valued at approximately $3,916,525.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction on 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 completion of the sale, 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. 2.00% of the stock is currently owned by company insiders.

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.