L.K. Benson & Company P.C. lowered its position in T. Rowe Price Group, Inc. (NASDAQ:TROW – Free Report) by 3.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 306,267 shares of the asset manager’s stock after selling 9,574 shares during the quarter. T. Rowe Price Group accounts for approximately 15.7% of L.K. Benson & Company P.C.’s portfolio, making the stock its biggest holding. L.K. Benson & Company P.C.’s holdings in T. Rowe Price Group were worth $31,356,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. TD Private Client Wealth LLC raised its holdings in shares of T. Rowe Price Group by 91.8% in the 4th quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 123 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its holdings in T. Rowe Price Group by 540.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock worth $29,000 after purchasing an additional 238 shares during the period. Root Financial Partners LLC acquired a new position in T. Rowe Price Group during the third quarter worth approximately $30,000. Canton Hathaway LLC acquired a new position in T. Rowe Price Group during the fourth quarter worth approximately $31,000. Finally, Sound Income Strategies LLC raised its stake in T. Rowe Price Group by 170.3% in the fourth 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 during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, VP Stephon A. Jackson sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total transaction of $307,680.00. Following the transaction, the vice president directly owned 83,883 shares of the company’s stock, valued at approximately $8,603,040.48. This trade represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.60% of the company’s stock.
Analysts Set New Price Targets
Read Our Latest Stock Report on T. Rowe Price Group
T. Rowe Price Group Price Performance
TROW opened at $102.38 on Tuesday. The business has a fifty day simple moving average of $94.76 and a 200 day simple moving average of $99.17. The company has a market capitalization of $21.94 billion, a PE ratio of 10.97, a price-to-earnings-growth ratio of 4.46 and a beta of 1.51. T. Rowe Price Group, Inc. has a 1 year low of $85.22 and a 1 year high of $118.22.
T. Rowe Price Group (NASDAQ:TROW – Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $1.85 billion. During the same quarter last year, the business earned $2.23 EPS. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. Equities analysts anticipate that T. Rowe Price Group, Inc. will post 9.61 earnings per share for the current fiscal year.
T. Rowe Price Group Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be paid a $1.30 dividend. The ex-dividend date is Monday, June 15th. This represents a $5.20 annualized dividend and a dividend yield of 5.1%. T. Rowe Price Group’s dividend payout ratio is 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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