Empirical Finance LLC Has $997,000 Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Empirical Finance LLC boosted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,176 shares of the asset manager’s stock after buying an additional 274 shares during the period. Empirical Finance LLC’s holdings in T. Rowe Price Group were worth $997,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Public Sector Pension Investment Board grew its stake in T. Rowe Price Group by 5.5% in the third quarter. Public Sector Pension Investment Board now owns 51,985 shares of the asset manager’s stock valued at $5,452,000 after purchasing an additional 2,722 shares in the last quarter. Deutsche Bank AG raised its position in T. Rowe Price Group by 1.9% during the third quarter. Deutsche Bank AG now owns 744,413 shares of the asset manager’s stock valued at $78,067,000 after acquiring an additional 13,703 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in T. Rowe Price Group by 4.0% in the third quarter. B. Riley Wealth Advisors Inc. now owns 3,958 shares of the asset manager’s stock valued at $415,000 after acquiring an additional 151 shares during the last quarter. Raleigh Capital Management Inc. acquired a new position in shares of T. Rowe Price Group during the 3rd quarter worth $57,000. Finally, Sunbelt Securities Inc. raised its holdings in shares of T. Rowe Price Group by 311.9% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,590 shares of the asset manager’s stock valued at $167,000 after purchasing an additional 1,204 shares in the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. UBS Group upped their price objective on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a report on Friday, April 12th. Keefe, Bruyette & Woods raised their price objective on T. Rowe Price Group from $120.00 to $121.00 and gave the company a “market perform” rating in a research note on Friday. StockNews.com raised T. Rowe Price Group from a “hold” rating to a “buy” rating in a research report on Wednesday. Evercore ISI reduced their target price 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 note on Tuesday, April 30th. Finally, Morgan Stanley boosted their price target on T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 17th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, T. Rowe Price Group presently has an average rating of “Hold” and an average price target of $113.10.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of the firm’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total transaction of $234,000.00. Following the completion of the sale, the vice president now owns 34,710 shares of the company’s stock, valued at approximately $4,061,070. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Jessica M. Hiebler sold 1,401 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $115.85, for a total transaction of $162,305.85. Following the transaction, the insider now directly owns 14,198 shares of the company’s stock, valued at $1,644,838.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total value of $234,000.00. Following the sale, the vice president now directly owns 34,710 shares in the company, valued at approximately $4,061,070. The disclosure for this sale can be found here. Insiders have sold 6,444 shares of company stock worth $740,408 in the last ninety days. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of TROW traded up $0.85 during mid-day trading on Friday, hitting $118.02. 794,248 shares of the company’s stock were exchanged, compared to its average volume of 1,309,773. T. Rowe Price Group, Inc. has a 52 week low of $87.43 and a 52 week high of $132.76. The company has a market cap of $26.35 billion, a PE ratio of 13.92, a P/E/G ratio of 1.96 and a beta of 1.42. The company has a 50-day simple moving average of $115.72 and a 200 day simple moving average of $113.35.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.34. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.71 billion. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. T. Rowe Price Group’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.69 EPS. On average, analysts anticipate that T. Rowe Price Group, Inc. will post 8.93 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Friday, June 14th were paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date was Friday, June 14th. T. Rowe Price Group’s dividend payout ratio is currently 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.