Cornerstone Capital Management Holdings LLC. boosted its holdings in T. Rowe Price Group Inc (NASDAQ:TROW) by 128.8% during the fourth quarter, Holdings Channel reports. The fund owned 268,298 shares of the asset manager’s stock after buying an additional 151,059 shares during the quarter. Cornerstone Capital Management Holdings LLC.’s holdings in T. Rowe Price Group were worth $28,151,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Signature Estate & Investment Advisors LLC bought a new position in T. Rowe Price Group in the 3rd quarter worth about $118,000. Grove Bank & Trust increased its stake 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 worth $119,000 after acquiring an additional 840 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in T. Rowe Price Group by 50.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,472 shares of the asset manager’s stock worth $155,000 after acquiring an additional 491 shares during the last quarter. Segall Bryant & Hamill LLC bought a new position in T. Rowe Price Group in the 3rd quarter worth about $202,000. Finally, Stock Yards Bank & Trust Co. bought a new position in T. Rowe Price Group in the 4th quarter worth about $205,000. Institutional investors and hedge funds own 72.88% of the company’s stock.
Several equities analysts have recently commented on TROW shares. TheStreet upgraded T. Rowe Price Group from a “c+” rating to a “b+” rating in a research report on Monday, March 5th. ValuEngine upgraded T. Rowe Price Group from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. BidaskClub lowered T. Rowe Price Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 31st. Zacks Investment Research upgraded T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $118.00 price objective on the stock in a research report on Wednesday, December 27th. Finally, Bank of America upgraded T. Rowe Price Group from a “neutral” rating to a “buy” rating and increased their price objective for the company from $113.00 to $125.00 in a research report on Monday, January 8th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. T. Rowe Price Group presently has a consensus rating of “Hold” and an average price target of $110.50.
In related news, Director Freeman A. Hrabowski III sold 4,000 shares of the stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $101.59, for a total transaction of $406,360.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kenneth V. Moreland sold 8,066 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $104.12, for a total value of $839,831.92. Following the sale, the chief financial officer now owns 100,796 shares of the company’s stock, valued at $10,494,879.52. The disclosure for this sale can be found here. Insiders have sold a total of 103,671 shares of company stock valued at $10,707,156 over the last 90 days. 3.60% of the stock is currently owned by company insiders.
T. Rowe Price Group Inc (NASDAQ TROW) opened at $116.97 on Wednesday. The company has a market capitalization of $28,639.92, a PE ratio of 19.59, a PEG ratio of 1.33 and a beta of 1.22. T. Rowe Price Group Inc has a 1 year low of $66.70 and a 1 year high of $120.07.
T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Tuesday, January 30th. The asset manager reported $1.52 EPS for the quarter, beating the consensus estimate of $1.48 by $0.04. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates 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 revenue was up 17.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.21 EPS. equities analysts expect that T. Rowe Price Group Inc will post 7.13 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 15th will be issued a dividend of $0.70 per share. The ex-dividend date is Wednesday, March 14th. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $0.57. This represents a $2.80 annualized dividend and a yield of 2.39%. T. Rowe Price Group’s dividend payout ratio is currently 38.19%.
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T. Rowe Price Group Company 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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