Hall Capital Management Co. Inc. acquired a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 9,792 shares of the asset manager's stock, valued at approximately $1,107,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of T. Rowe Price Group by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 26,063,837 shares of the asset manager's stock valued at $2,947,559,000 after buying an additional 135,203 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of T. Rowe Price Group by 5.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager's stock worth $812,798,000 after buying an additional 346,369 shares during the last quarter. Fayez Sarofim & Co lifted its position in T. Rowe Price Group by 7.6% in the 4th quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager's stock valued at $684,474,000 after acquiring an additional 425,142 shares in the last quarter. Geode Capital Management LLC lifted its position in T. Rowe Price Group by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 5,631,429 shares of the asset manager's stock valued at $635,260,000 after acquiring an additional 116,231 shares in the last quarter. Finally, Provident Trust Co. lifted its position in T. Rowe Price Group by 8.9% in the 4th quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager's stock valued at $295,311,000 after acquiring an additional 213,566 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on TROW shares. The Goldman Sachs Group lowered their price target on T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating on the stock in a report on Monday, April 14th. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $113.00 price target (up from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. JPMorgan Chase & Co. lowered their price target on T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating on the stock in a report on Wednesday, April 16th. Evercore ISI lowered their price target on T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating on the stock in a report on Friday, April 11th. Finally, Morgan Stanley raised their target price on T. Rowe Price Group from $94.00 to $95.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Four analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $94.09.
Read Our Latest Stock Report on TROW
T. Rowe Price Group Price Performance
Shares of NASDAQ:TROW traded down $1.56 during trading on Wednesday, hitting $94.00. 901,907 shares of the company's stock were exchanged, compared to its average volume of 1,492,506. T. Rowe Price Group, Inc. has a 52-week low of $77.85 and a 52-week high of $125.81. The business's 50-day simple moving average is $90.71 and its 200 day simple moving average is $104.77. The company has a market cap of $20.71 billion, a price-to-earnings ratio of 10.26, a PEG ratio of 2.86 and a beta of 1.50.
T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.10. The business had revenue of $1.76 billion during the quarter, compared to analysts' expectations of $1.80 billion. T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. The firm's revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the business posted $2.38 EPS. On average, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.
T. Rowe Price Group Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be paid a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 5.40%. The ex-dividend date of this dividend is Friday, June 13th. T. Rowe Price Group's payout ratio is 57.60%.
Insider Activity
In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 968 shares of T. Rowe Price Group stock in a transaction on Monday, May 12th. The stock was sold at an average price of $96.98, for a total transaction of $93,876.64. Following the completion of the sale, the insider now directly owns 13,611 shares of the company's stock, valued at $1,319,994.78. The trade was a 6.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert F. Maclellan sold 3,955 shares of T. Rowe Price Group stock in a transaction on Monday, March 31st. The shares were sold at an average price of $91.56, for a total value of $362,119.80. Following the sale, the director now directly owns 42,979 shares of the company's stock, valued at approximately $3,935,157.24. This trade represents a 8.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company's stock.
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.
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