Simmons Bank Has $714,000 Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Simmons Bank raised its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 89.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 6,628 shares of the asset manager’s stock after buying an additional 3,125 shares during the period. Simmons Bank’s holdings in T. Rowe Price Group were worth $714,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TROW. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of T. Rowe Price Group by 19.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 69,659 shares of the asset manager’s stock valued at $7,305,000 after buying an additional 11,354 shares during the last quarter. IFM Investors Pty Ltd raised its holdings in shares of T. Rowe Price Group by 3.0% in the 3rd quarter. IFM Investors Pty Ltd now owns 44,553 shares of the asset manager’s stock valued at $4,672,000 after purchasing an additional 1,281 shares during the period. Advisor Partners II LLC lifted its stake in T. Rowe Price Group by 20.2% in the 3rd quarter. Advisor Partners II LLC now owns 16,619 shares of the asset manager’s stock valued at $1,743,000 after purchasing an additional 2,796 shares during the last quarter. Graypoint LLC grew its holdings in T. Rowe Price Group by 34.7% during the third quarter. Graypoint LLC now owns 2,448 shares of the asset manager’s stock worth $257,000 after purchasing an additional 630 shares during the period. Finally, Emerald Advisers LLC increased its position in T. Rowe Price Group by 51.0% during the third quarter. Emerald Advisers LLC now owns 3,061 shares of the asset manager’s stock worth $321,000 after buying an additional 1,034 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Trading Up 0.3 %

NASDAQ:TROW traded up $0.29 during trading hours on Wednesday, hitting $111.54. 746,679 shares of the company were exchanged, compared to its average volume of 1,440,764. The stock has a market capitalization of $24.91 billion, a price-to-earnings ratio of 13.21, a price-to-earnings-growth ratio of 1.93 and a beta of 1.40. T. Rowe Price Group, Inc. has a one year low of $87.43 and a one year high of $132.76. The company has a fifty day simple moving average of $115.24 and a 200 day simple moving average of $107.68.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.34. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period last year, the company earned $1.69 earnings per share. The firm’s revenue was up 13.8% compared to the same quarter last year. Equities research analysts predict that T. Rowe Price Group, Inc. will post 8.75 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, June 14th will be paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.45%. T. Rowe Price Group’s dividend payout ratio is currently 58.91%.

Analysts Set New Price Targets

A number of research firms recently weighed in on TROW. Citigroup boosted their target price on T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. 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 report on Tuesday, April 30th. Keefe, Bruyette & Woods raised shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and increased their price target for the company from $106.00 to $120.00 in a report on Thursday, April 11th. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Finally, UBS Group increased their target price on T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a research note on Friday, April 12th. Four research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $112.10.

Insider Transactions 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 that occurred 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 of the company’s stock, valued at $2,493,357.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 8,740 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $118.32, for a total value 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jessica M. Hiebler sold 1,138 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $107.13, for a total transaction of $121,913.94. Following the completion of the sale, the insider now owns 14,113 shares in the company, valued at approximately $1,511,925.69. The disclosure for this sale can be found here. Insiders sold a total of 12,921 shares of company stock worth $1,500,133 over the last three months. 2.00% of the stock is 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.