Commerzbank Aktiengesellschaft FI raised its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW – Free Report) by 211.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 94,184 shares of the asset manager’s stock after acquiring an additional 63,903 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in T. Rowe Price Group were worth $9,643,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. Essex Bank increased its position in shares of T. Rowe Price Group by 3.6% during the 3rd quarter. Essex Bank now owns 2,914 shares of the asset manager’s stock valued at $299,000 after purchasing an additional 100 shares during the last quarter. PFG Investments LLC increased its position in shares of T. Rowe Price Group by 4.8% during the 3rd quarter. PFG Investments LLC now owns 2,249 shares of the asset manager’s stock valued at $231,000 after purchasing an additional 102 shares during the last quarter. GenTrust LLC increased its position in shares of T. Rowe Price Group by 5.5% during the 4th quarter. GenTrust LLC now owns 2,114 shares of the asset manager’s stock valued at $216,000 after purchasing an additional 110 shares during the last quarter. Fiduciary Trust Co increased its position in shares of T. Rowe Price Group by 4.5% during the 3rd quarter. Fiduciary Trust Co now owns 2,579 shares of the asset manager’s stock valued at $265,000 after purchasing an additional 111 shares during the last quarter. Finally, 1834 Investment Advisors Co. increased its position in shares of T. Rowe Price Group by 0.3% during the 4th quarter. 1834 Investment Advisors Co. now owns 37,490 shares of the asset manager’s stock valued at $3,838,000 after purchasing an additional 115 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.
Analyst Ratings Changes
Several equities analysts have recently commented on TROW shares. Deutsche Bank Aktiengesellschaft reduced their price objective on T. Rowe Price Group from $106.00 to $100.00 and set a “hold” rating on the stock in a research report on Thursday, February 5th. TD Cowen increased their price objective on T. Rowe Price Group from $93.00 to $94.00 and gave the company a “hold” rating in a research report on Friday, May 1st. Zacks Research upgraded T. Rowe Price Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday. Barclays raised their price target on T. Rowe Price Group from $87.00 to $89.00 and gave the stock an “underweight” rating in a research report on Friday, May 1st. Finally, BMO Capital Markets raised their price target on T. Rowe Price Group from $98.00 to $110.00 and gave the stock a “market perform” rating in a research report on Monday, May 4th. Eleven research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $99.54.
Insiders Place Their Bets
In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total value of $307,680.00. Following the completion of the transaction, the vice president owned 83,883 shares in the company, valued at approximately $8,603,040.48. This represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is currently owned by insiders.
T. Rowe Price Group Price Performance
TROW opened at $102.01 on Friday. The stock’s 50 day simple moving average is $94.55 and its 200 day simple moving average is $99.23. T. Rowe Price Group, Inc. has a 1 year low of $85.22 and a 1 year high of $118.22. The firm has a market cap of $21.86 billion, a price-to-earnings ratio of 10.93, a PEG ratio of 4.48 and a beta of 1.51.
T. Rowe Price Group (NASDAQ:TROW – Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.15. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the company earned $2.23 EPS. As a group, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.61 EPS for the current year.
T. Rowe Price Group Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors 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 annualized dividend and a dividend yield of 5.1%. T. Rowe Price Group’s payout ratio is currently 55.73%.
T. Rowe Price Group 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.
Read More
- Five stocks we like better than T. Rowe Price Group
- Viking Sails to All-Time Highs—Fundamentals Signal More to Come
- Datavalut Gains Traction: 5 Reasons to Sell Now
- TMC Stock: Why This Pre-Revenue Miner Is Worth Watching
- The Power Grid Is Dying—Is It Time to Buy Its Replacement?
Want to see what other hedge funds are holding TROW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for T. Rowe Price Group, Inc. (NASDAQ:TROW – Free Report).
Receive News & Ratings for T. Rowe Price Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for T. Rowe Price Group and related companies with MarketBeat.com's FREE daily email newsletter.
