Ensign Peak Advisors Inc lessened its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 17.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 108,064 shares of the asset manager's stock after selling 22,872 shares during the period. Ensign Peak Advisors Inc's holdings in T. Rowe Price Group were worth $12,221,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in TROW. Barclays PLC grew its position in T. Rowe Price Group by 13.6% in the 3rd quarter. Barclays PLC now owns 822,869 shares of the asset manager's stock worth $89,635,000 after purchasing an additional 98,448 shares during the period. Principal Financial Group Inc. lifted its stake in shares of T. Rowe Price Group by 2.8% during the 3rd quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager's stock valued at $30,062,000 after buying an additional 7,503 shares in the last quarter. Czech National Bank lifted its stake in shares of T. Rowe Price Group by 6.2% during the 4th quarter. Czech National Bank now owns 48,169 shares of the asset manager's stock valued at $5,447,000 after buying an additional 2,824 shares in the last quarter. Matrix Trust Co lifted its stake in shares of T. Rowe Price Group by 7.4% during the 4th quarter. Matrix Trust Co now owns 14,767 shares of the asset manager's stock valued at $1,670,000 after buying an additional 1,019 shares in the last quarter. Finally, Brookstone Capital Management boosted its holdings in shares of T. Rowe Price Group by 16.4% during the 4th quarter. Brookstone Capital Management now owns 100,176 shares of the asset manager's stock valued at $11,329,000 after purchasing an additional 14,087 shares during the last quarter. Institutional investors own 73.39% of the company's stock.
T. Rowe Price Group Price Performance
TROW stock traded up $0.41 during mid-day trading on Friday, reaching $98.06. The company had a trading volume of 1,493,466 shares, compared to its average volume of 1,486,255. The company has a market capitalization of $21.60 billion, a PE ratio of 10.71, a price-to-earnings-growth ratio of 2.86 and a beta of 1.50. The firm has a 50 day moving average of $90.42 and a 200 day moving average of $105.89. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $125.81.
T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its earnings results on Friday, May 2nd. The asset manager reported $2.23 EPS for the quarter, topping analysts' consensus estimates of $2.13 by $0.10. The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.80 billion. T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. The company's revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.38 EPS. Analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.
T. Rowe Price Group Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a $1.27 dividend. The ex-dividend date is Friday, June 13th. This represents a $5.08 dividend on an annualized basis and a yield of 5.18%. T. Rowe Price Group's dividend payout ratio is currently 57.60%.
Insiders Place Their Bets
In other news, insider Jessica M. Hiebler sold 968 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $96.98, for a total transaction of $93,876.64. Following the transaction, the insider now directly owns 13,611 shares in the company, valued at approximately $1,319,994.78. This trade represents a 6.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert F. Maclellan sold 3,955 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $91.56, for a total transaction of $362,119.80. Following the transaction, the director now owns 42,979 shares in the company, valued at approximately $3,935,157.24. This represents a 8.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.60% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have commented on the stock. TD Cowen dropped their price objective on shares of T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating for the company in a report on Wednesday, April 9th. Barclays upped their target price on shares of T. Rowe Price Group from $85.00 to $90.00 and gave the company an "underweight" rating in a research report on Monday, May 5th. JPMorgan Chase & Co. decreased their target price on shares of T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 16th. Evercore ISI decreased their target price on shares of T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating on the stock in a research report on Friday, April 11th. Finally, The Goldman Sachs Group decreased their target price on shares of T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating on the stock in a research report on Monday, April 14th. Four investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the company's stock. According to MarketBeat, T. Rowe Price Group currently has an average rating of "Hold" and a consensus price target of $94.09.
Check Out Our Latest Stock Analysis on T. Rowe Price Group
About T. Rowe Price Group
(
Free Report)
T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.
See Also
Before you consider T. Rowe Price Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and T. Rowe Price Group wasn't on the list.
While T. Rowe Price Group currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
