Bragg Financial Advisors Inc Invests $8.79 Million in T. Rowe Price Group Inc (NASDAQ:TROW)

Bragg Financial Advisors Inc purchased a new position in shares of T. Rowe Price Group Inc (NASDAQ:TROW) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 87,745 shares of the asset manager’s stock, valued at approximately $8,785,000. T. Rowe Price Group makes up 1.1% of Bragg Financial Advisors Inc’s investment portfolio, making the stock its 20th biggest position.

A number of other hedge funds have also modified their holdings of the business. Oregon Public Employees Retirement Fund increased its holdings in shares of T. Rowe Price Group by 5,160.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,804,712 shares of the asset manager’s stock valued at $63,000 after purchasing an additional 5,694,370 shares during the last quarter. Norges Bank acquired a new stake in shares of T. Rowe Price Group in the fourth quarter valued at approximately $216,223,000. APG Asset Management N.V. increased its holdings in shares of T. Rowe Price Group by 112.3% in the fourth quarter. APG Asset Management N.V. now owns 1,064,185 shares of the asset manager’s stock valued at $85,943,000 after purchasing an additional 562,900 shares during the last quarter. Check Capital Management Inc. CA acquired a new stake in shares of T. Rowe Price Group in the fourth quarter valued at approximately $42,742,000. Finally, Vanguard Group Inc increased its holdings in shares of T. Rowe Price Group by 2.2% in the third quarter. Vanguard Group Inc now owns 21,212,245 shares of the asset manager’s stock valued at $2,315,952,000 after purchasing an additional 457,683 shares during the last quarter. Institutional investors own 69.32% of the company’s stock.

Several equities research analysts recently commented on the company. Jefferies Financial Group increased their price target on T. Rowe Price Group from $103.00 to $119.00 and gave the company a “buy” rating in a report on Monday, April 1st. Gabelli reissued a “buy” rating on shares of T. Rowe Price Group in a research note on Thursday, April 25th. BidaskClub cut T. Rowe Price Group from a “hold” rating to a “sell” rating in a research note on Thursday. Barclays raised their target price on T. Rowe Price Group from $90.00 to $95.00 and gave the stock an “underweight” rating in a research note on Thursday, April 25th. Finally, Bank of America set a $112.00 target price on T. Rowe Price Group and gave the stock a “buy” rating in a research note on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. T. Rowe Price Group has an average rating of “Hold” and a consensus price target of $106.75.

In other news, Director Mary K. Bush sold 3,500 shares of T. Rowe Price Group stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $107.06, for a total transaction of $374,710.00. Following the sale, the director now owns 19,243 shares in the company, valued at $2,060,155.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Edward C. Bernard sold 20,000 shares of T. Rowe Price Group stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $107.92, for a total value of $2,158,400.00. Following the sale, the insider now owns 649,135 shares in the company, valued at approximately $70,054,649.20. The disclosure for this sale can be found here. Insiders have sold 68,618 shares of company stock worth $7,400,440 in the last quarter. Insiders own 3.10% of the company’s stock.

NASDAQ:TROW traded up $1.17 during midday trading on Friday, reaching $109.71. The company had a trading volume of 1,162,949 shares, compared to its average volume of 1,270,603. T. Rowe Price Group Inc has a 12-month low of $84.59 and a 12-month high of $125.35. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.74 and a quick ratio of 3.74. The firm has a market cap of $25.28 billion, a price-to-earnings ratio of 15.34, a price-to-earnings-growth ratio of 1.57 and a beta of 1.06. The business’s fifty day simple moving average is $104.96.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Wednesday, April 24th. The asset manager reported $1.87 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.61 by $0.26. T. Rowe Price Group had a return on equity of 28.93% and a net margin of 35.05%. The company had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same period last year, the firm earned $1.74 earnings per share. T. Rowe Price Group’s quarterly revenue was down 2.1% on a year-over-year basis. As a group, equities research analysts predict that T. Rowe Price Group Inc will post 7.54 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend is Thursday, June 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 42.52%.

T. Rowe Price Group 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.

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

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