VIRGINIA RETIREMENT SYSTEMS ET Al boosted its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW – Free Report) by 3.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 546,700 shares of the asset manager’s stock after buying an additional 18,200 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.25% of T. Rowe Price Group worth $55,971,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. increased its position in T. Rowe Price Group by 540.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock valued at $29,000 after buying an additional 238 shares in the last quarter. Root Financial Partners LLC acquired a new position in T. Rowe Price Group during the 3rd quarter valued at about $30,000. Canton Hathaway LLC acquired a new position in T. Rowe Price Group during the 4th quarter valued at about $31,000. Sound Income Strategies LLC increased its position in T. Rowe Price Group by 170.3% during the 4th quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock valued at $32,000 after buying an additional 189 shares in the last quarter. Finally, Quent Capital LLC acquired a new position in T. Rowe Price Group during the 3rd quarter valued at about $39,000. 73.39% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on TROW. Bank of America upped their target price on T. Rowe Price Group from $85.00 to $86.00 in a research report on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft cut their price objective on T. Rowe Price Group from $106.00 to $100.00 and set a “hold” rating on the stock in a report on Thursday, February 5th. Morgan Stanley set a $105.00 price objective on T. Rowe Price Group in a report on Monday, April 27th. Evercore cut their price objective on T. Rowe Price Group from $106.00 to $104.00 in a report on Monday. Finally, Argus raised T. Rowe Price Group to a “hold” rating in a report on Thursday, February 5th. Ten investment analysts have rated the stock with a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, T. Rowe Price Group currently has an average rating of “Reduce” and a consensus target price of $99.54.
T. Rowe Price Group Stock Down 1.8%
Shares of TROW opened at $102.84 on Wednesday. T. Rowe Price Group, Inc. has a 52 week low of $85.22 and a 52 week high of $118.22. The company has a market capitalization of $22.04 billion, a price-to-earnings ratio of 11.02, a PEG ratio of 4.58 and a beta of 1.51. The stock’s 50-day moving average price is $94.01 and its 200-day moving average price is $99.21.
T. Rowe Price Group (NASDAQ:TROW – Get Free Report) last issued its earnings results on Thursday, April 30th. The asset manager reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.37 by $0.15. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the prior year, the business earned $2.23 earnings per share. The company’s revenue was up 5.3% compared to the same quarter last year. As a group, equities analysts anticipate that T. Rowe Price Group, Inc. will post 9.61 EPS for the current fiscal year.
T. Rowe Price Group Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be given a dividend of $1.30 per share. The ex-dividend date is Monday, June 15th. This represents a $5.20 dividend on an annualized basis and a yield of 5.1%. T. Rowe Price Group’s dividend payout ratio is currently 55.73%.
T. Rowe Price Group Company Profile
T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.
The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.
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