Hilton Head Capital Partners LLC Buys New Position in T. Rowe Price Group, Inc. $TROW

Hilton Head Capital Partners LLC bought a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROWFree Report) during the fourth quarter, Holdings Channel.com reports. The fund bought 6,177 shares of the asset manager’s stock, valued at approximately $632,000.

Other large investors also recently modified their holdings of the company. MTM Investment Management LLC grew its stake in shares of T. Rowe Price Group by 3.5% in the fourth quarter. MTM Investment Management LLC now owns 3,167 shares of the asset manager’s stock worth $324,000 after acquiring an additional 107 shares during the last quarter. GenTrust LLC boosted its holdings in T. Rowe Price Group by 5.5% in 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 period. Fiduciary Trust Co boosted its holdings in T. Rowe Price Group by 4.5% in 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 period. 1834 Investment Advisors Co. grew its position in T. Rowe Price Group by 0.3% in the 4th quarter. 1834 Investment Advisors Co. now owns 37,490 shares of the asset manager’s stock worth $3,838,000 after purchasing an additional 115 shares during the last quarter. Finally, Allworth Financial LP increased its holdings in shares of T. Rowe Price Group by 2.1% during the 4th quarter. Allworth Financial LP now owns 5,541 shares of the asset manager’s stock worth $567,000 after purchasing an additional 115 shares during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the company’s 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 sale, the vice president directly owned 83,883 shares in the company, valued at $8,603,040.48. This represents a 3.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.60% of the company’s stock.

T. Rowe Price Group Stock Performance

TROW opened at $105.99 on Monday. The stock has a market cap of $22.71 billion, a PE ratio of 11.36, a P/E/G ratio of 5.42 and a beta of 1.50. T. Rowe Price Group, Inc. has a 1 year low of $85.22 and a 1 year high of $118.22. The stock’s 50 day simple moving average is $99.06 and its 200-day simple moving average is $99.32.

T. Rowe Price Group (NASDAQ:TROWGet Free Report) last released its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.15. The business 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%.T. Rowe Price Group’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.23 earnings per share. Equities analysts forecast that T. Rowe Price Group, Inc. will post 9.63 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Stockholders 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 dividend yield of 4.9%. T. Rowe Price Group’s payout ratio is currently 55.73%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TROW. TD Cowen increased their target price on shares of T. Rowe Price Group from $93.00 to $94.00 and gave the company a “hold” rating in a research note on Friday, May 1st. Morgan Stanley set a $105.00 price target on T. Rowe Price Group in a report on Monday, April 27th. Barclays raised their price objective 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. The Goldman Sachs Group lifted their price objective on T. Rowe Price Group from $85.00 to $90.00 in a report on Friday, May 1st. Finally, Jefferies Financial Group lowered their price objective on T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating on the stock in a research report on Wednesday, April 8th. Eleven equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, T. Rowe Price Group presently has a consensus rating of “Reduce” and an average price target of $99.54.

Read Our Latest Report on TROW

T. Rowe Price Group Profile

(Free Report)

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.

Further Reading

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:TROWFree Report).

Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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