Integrity Alliance LLC. bought a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW – Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 5,699 shares of the asset manager’s stock, valued at approximately $583,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. TD Private Client Wealth LLC raised its position 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 buying an additional 123 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake 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 acquiring an additional 238 shares in the last quarter. Canton Hathaway LLC acquired a new position in T. Rowe Price Group during the fourth quarter worth about $31,000. Sound Income Strategies LLC raised its stake in T. Rowe Price Group by 170.3% during the fourth quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock worth $32,000 after acquiring an additional 189 shares in the last quarter. Finally, TD Waterhouse Canada Inc. raised its stake in T. Rowe Price Group by 92.0% during the fourth quarter. TD Waterhouse Canada Inc. now owns 386 shares of the asset manager’s stock worth $40,000 after acquiring an additional 185 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research analysts have commented on TROW shares. TD Cowen boosted their target price on T. Rowe Price Group from $93.00 to $94.00 and gave the stock a “hold” rating in a research note on Friday, May 1st. Argus raised T. Rowe Price Group to a “hold” rating in a research note on Thursday, February 5th. Evercore lowered their target price on T. Rowe Price Group from $106.00 to $104.00 in a research note on Monday, May 11th. Jefferies Financial Group lowered their target price on T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating for the company in a research note on Wednesday, April 8th. Finally, Zacks Research raised T. Rowe Price Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 13th. Eleven 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 currently has an average rating of “Reduce” and an average price target of $99.54.
T. Rowe Price Group Trading Up 0.9%
NASDAQ:TROW opened at $104.53 on Friday. The stock has a market cap of $22.40 billion, a P/E ratio of 11.20, a price-to-earnings-growth ratio of 5.30 and a beta of 1.51. The stock’s 50-day moving average is $97.35 and its 200-day moving average is $99.25. 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 released its quarterly earnings results 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. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations 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 in the previous year, the business posted $2.23 earnings per share. As a group, equities analysts forecast that T. Rowe Price Group, Inc. will post 9.63 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. Stockholders of record on Monday, June 15th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 5.0%. The ex-dividend date is Monday, June 15th. T. Rowe Price Group’s payout ratio is 55.73%.
Insider Buying and Selling at T. Rowe Price Group
In other news, VP Stephon A. Jackson sold 3,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total transaction of $307,680.00. Following the sale, the vice president directly owned 83,883 shares in the company, valued at approximately $8,603,040.48. The trade was a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.60% of the company’s stock.
About T. Rowe Price Group
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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