MUFG Americas Holdings Corp cut its holdings in T. Rowe Price Group Inc (NASDAQ:TROW) by 7.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,458 shares of the asset manager’s stock after selling 795 shares during the period. MUFG Americas Holdings Corp’s holdings in T. Rowe Price Group were worth $992,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also bought and sold shares of TROW. Signature Estate & Investment Advisors LLC bought a new stake in T. Rowe Price Group in the 3rd quarter valued at about $118,000. Grove Bank & Trust increased its position in T. Rowe Price Group by 178.7% in the 3rd quarter. Grove Bank & Trust now owns 1,310 shares of the asset manager’s stock valued at $119,000 after buying an additional 840 shares in the last quarter. Stewart & Patten Co. LLC bought a new stake in T. Rowe Price Group in the 3rd quarter valued at about $201,000. Segall Bryant & Hamill LLC bought a new stake in T. Rowe Price Group in the 3rd quarter valued at about $202,000. Finally, Bremer Trust National Association bought a new stake in T. Rowe Price Group in the 3rd quarter valued at about $205,000. 71.89% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently commented on TROW. Morgan Stanley decreased their target price on T. Rowe Price Group from $115.00 to $112.00 and set a “hold” rating for the company in a research report on Tuesday, February 13th. BidaskClub lowered T. Rowe Price Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 31st. ValuEngine raised T. Rowe Price Group from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. UBS Group raised T. Rowe Price Group from a “sell” rating to a “neutral” rating and boosted their target price for the company from $75.00 to $110.00 in a research report on Tuesday, January 9th. Finally, Zacks Investment Research lowered T. Rowe Price Group from a “buy” rating to a “hold” rating and set a $115.00 target price for the company. in a research report on Friday, January 5th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $100.60.
T. Rowe Price Group Inc (TROW) opened at $110.49 on Friday. The stock has a market capitalization of $26,772.83, a PE ratio of 20.35, a price-to-earnings-growth ratio of 1.25 and a beta of 1.28. T. Rowe Price Group Inc has a 12 month low of $66.70 and a 12 month high of $120.07.
T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Tuesday, January 30th. The asset manager reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.04. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.27 billion. T. Rowe Price Group had a return on equity of 25.30% and a net margin of 31.07%. The company’s quarterly revenue was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.21 EPS. equities research analysts expect that T. Rowe Price Group Inc will post 7.11 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be paid a dividend of $0.70 per share. The ex-dividend date is Wednesday, March 14th. This represents a $2.80 dividend on an annualized basis and a yield of 2.53%. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $0.57. T. Rowe Price Group’s payout ratio is 38.19%.
In other T. Rowe Price Group news, CFO Kenneth V. Moreland sold 8,066 shares of T. Rowe Price Group stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $104.12, for a total transaction of $839,831.92. Following the completion of the transaction, the chief financial officer now owns 100,796 shares in the company, valued at approximately $10,494,879.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christopher D. Alderson sold 91,605 shares of T. Rowe Price Group stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $103.28, for a total value of $9,460,964.40. Following the transaction, the vice president now owns 169,816 shares of the company’s stock, valued at approximately $17,538,596.48. The disclosure for this sale can be found here. Insiders have sold a total of 204,980 shares of company stock valued at $20,776,729 in the last quarter. Company insiders own 3.60% of the company’s stock.
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T. Rowe Price Group Profile
T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.
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