Roberts Glore & Co. Inc. IL trimmed its holdings in T. Rowe Price Group Inc (NASDAQ:TROW) by 12.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,400 shares of the asset manager’s stock after selling 500 shares during the period. Roberts Glore & Co. Inc. IL’s holdings in T. Rowe Price Group were worth $357,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TROW. Signature Estate & Investment Advisors LLC purchased a new position in T. Rowe Price Group in the third quarter worth about $118,000. Grove Bank & Trust boosted its position in T. Rowe Price Group by 178.7% in the third quarter. Grove Bank & Trust now owns 1,310 shares of the asset manager’s stock worth $119,000 after purchasing an additional 840 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in T. Rowe Price Group by 50.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,472 shares of the asset manager’s stock worth $155,000 after purchasing an additional 491 shares during the last quarter. Stewart & Patten Co. LLC purchased a new position in T. Rowe Price Group in the third quarter worth about $201,000. Finally, Segall Bryant & Hamill LLC purchased a new position in T. Rowe Price Group in the third quarter worth about $202,000. Institutional investors own 72.16% of the company’s stock.
T. Rowe Price Group Inc (TROW) opened at $110.49 on Tuesday. T. Rowe Price Group Inc has a 12-month low of $66.70 and a 12-month high of $120.07. The firm has a market capitalization of $27,008.67, a PE ratio of 20.35, a PEG ratio of 1.25 and a beta of 1.28.
T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Tuesday, January 30th. The asset manager reported $1.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.48 by $0.04. T. Rowe Price Group had a return on equity of 25.30% and a net margin of 31.07%. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the previous year, the firm earned $1.21 EPS. The business’s quarterly revenue was up 17.9% on a year-over-year basis. analysts predict that T. Rowe Price Group Inc will post 7.11 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be given a dividend of $0.70 per share. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $0.57. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend is Wednesday, March 14th. T. Rowe Price Group’s payout ratio is presently 38.19%.
In other news, VP Christopher D. Alderson sold 91,605 shares of T. Rowe Price Group stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $103.28, for a total transaction of $9,460,964.40. Following the transaction, the vice president now directly owns 169,816 shares of the company’s stock, valued at approximately $17,538,596.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP W. Sharps Robert sold 5,000 shares of T. Rowe Price Group stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $98.64, for a total value of $493,200.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 190,561 shares of company stock worth $19,377,077. Insiders own 3.60% of the company’s stock.
Several research analysts have issued reports on TROW shares. Bank of America raised T. Rowe Price Group from a “neutral” rating to a “buy” rating and raised their target price for the stock from $113.00 to $125.00 in a research report on Monday, January 8th. Barclays raised their target price on T. Rowe Price Group from $79.00 to $84.00 and gave the stock an “underweight” rating in a research report on Friday, October 27th. UBS Group raised T. Rowe Price Group from a “sell” rating to a “neutral” rating and raised their target price for the stock from $75.00 to $110.00 in a research report on Tuesday, January 9th. Zacks Investment Research raised T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $118.00 target price on the stock in a research report on Wednesday, December 27th. Finally, ValuEngine raised T. Rowe Price Group from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $100.60.
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About T. Rowe Price Group
T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.
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