S Bank Fund Management Ltd bought a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,983 shares of the asset manager's stock, valued at approximately $274,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Zions Bancorporation National Association UT acquired a new position in shares of T. Rowe Price Group during the 1st quarter worth $27,000. Ameriflex Group Inc. acquired a new position in shares of T. Rowe Price Group during the 4th quarter worth $42,000. Hexagon Capital Partners LLC raised its stake in shares of T. Rowe Price Group by 44.8% during the 1st quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager's stock worth $34,000 after buying an additional 113 shares during the last quarter. Smallwood Wealth Investment Management LLC acquired a new position in shares of T. Rowe Price Group during the 1st quarter worth $39,000. Finally, Chilton Capital Management LLC purchased a new stake in T. Rowe Price Group during the 1st quarter worth about $41,000. Institutional investors and hedge funds own 73.39% of the company's stock.
Insider Activity
In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total value of $190,860.00. Following the transaction, the vice president directly owned 44,789 shares of the company's stock, valued at $4,274,214.27. This represents a 4.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 2.00% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on TROW. JPMorgan Chase & Co. lifted their price objective on T. Rowe Price Group from $98.00 to $102.00 and gave the stock an "underweight" rating in a research report on Monday, August 4th. Wells Fargo & Company lifted their price objective on T. Rowe Price Group from $98.00 to $108.00 and gave the stock an "equal weight" rating in a research report on Friday, July 11th. Barclays reiterated an "underweight" rating and set a $95.00 price objective (up previously from $91.00) on shares of T. Rowe Price Group in a research report on Monday, August 4th. Cowen reiterated a "hold" rating on shares of T. Rowe Price Group in a research report on Monday, May 5th. Finally, Keefe, Bruyette & Woods lifted their price objective on T. Rowe Price Group from $110.00 to $112.00 and gave the stock a "market perform" rating in a research report on Monday, August 4th. Four analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. According to MarketBeat.com, T. Rowe Price Group currently has an average rating of "Hold" and an average price target of $101.09.
Check Out Our Latest Research Report on T. Rowe Price Group
T. Rowe Price Group Price Performance
T. Rowe Price Group stock traded down $2.02 during midday trading on Friday, hitting $107.04. 1,205,851 shares of the company were exchanged, compared to its average volume of 1,693,869. The company's fifty day moving average price is $100.94 and its 200-day moving average price is $97.93. The company has a market cap of $23.52 billion, a PE ratio of 11.96, a price-to-earnings-growth ratio of 2.97 and a beta of 1.47. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81.
T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, topping the consensus estimate of $2.15 by $0.09. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.72 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%. T. Rowe Price Group's revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the company posted $2.26 EPS. On average, analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.
T. Rowe Price Group Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be given a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Monday, September 15th. T. Rowe Price Group's dividend payout ratio is presently 56.76%.
T. Rowe Price Group Profile
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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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