Ballentine Partners LLC lessened its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 95.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,005 shares of the asset manager's stock after selling 46,463 shares during the period. Ballentine Partners LLC's holdings in T. Rowe Price Group were worth $216,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of TROW. Vanguard Group Inc. lifted its holdings in shares of T. Rowe Price Group by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 20,183,563 shares of the asset manager's stock worth $3,051,553,000 after acquiring an additional 625,340 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in T. Rowe Price Group by 2.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,900,101 shares of the asset manager's stock valued at $513,874,000 after buying an additional 134,839 shares during the last quarter. Morgan Stanley raised its holdings in T. Rowe Price Group by 0.7% during the 3rd quarter. Morgan Stanley now owns 3,483,350 shares of the asset manager's stock valued at $365,299,000 after buying an additional 25,012 shares during the last quarter. Northern Trust Corp raised its holdings in T. Rowe Price Group by 4.1% during the 3rd quarter. Northern Trust Corp now owns 2,356,132 shares of the asset manager's stock valued at $247,088,000 after buying an additional 93,829 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in T. Rowe Price Group by 2.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,271,065 shares of the asset manager's stock valued at $238,167,000 after buying an additional 44,175 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company's stock.
Insider Buying and Selling
In related news, insider Jessica M. Hiebler sold 1,138 shares of the firm's stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $107.13, for a total value of $121,913.94. Following the transaction, the insider now owns 14,113 shares of the company's stock, valued at $1,511,925.69. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Jessica M. Hiebler sold 1,138 shares of the firm's stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $107.13, for a total value of $121,913.94. Following the transaction, the insider now owns 14,113 shares of the company's stock, valued at $1,511,925.69. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Freeman A. Hrabowski III sold 8,740 shares of T. Rowe Price Group stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the transaction, the director now directly owns 21,073 shares in the company, valued at approximately $2,493,357.36. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.
T. Rowe Price Group Stock Performance
Shares of TROW stock traded up $2.10 during trading hours on Tuesday, reaching $119.65. The company had a trading volume of 1,248,961 shares, compared to its average volume of 1,382,767. The business has a fifty day moving average price of $114.03 and a 200-day moving average price of $106.28. T. Rowe Price Group, Inc. has a one year low of $87.43 and a one year high of $132.76. The firm has a market cap of $26.76 billion, a PE ratio of 15.42, a price-to-earnings-growth ratio of 2.43 and a beta of 1.40.
T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly earnings data on Thursday, February 8th. The asset manager reported $1.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.60 by $0.12. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.41%. The firm's revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.74 earnings per share. Equities research analysts forecast that T. Rowe Price Group, Inc. will post 7.79 EPS for the current year.
T. Rowe Price Group Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a $1.24 dividend. This is an increase from T. Rowe Price Group's previous quarterly dividend of $1.22. The ex-dividend date was Thursday, March 14th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.15%. T. Rowe Price Group's dividend payout ratio (DPR) is presently 63.92%.
Wall Street Analysts Forecast Growth
Several brokerages have commented on TROW. Wells Fargo & Company upped their price objective on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the stock an "underweight" rating in a report on Friday, February 9th. TD Cowen upgraded shares of T. Rowe Price Group from a "sell" rating to a "hold" rating and upped their price objective for the stock from $92.00 to $114.00 in a report on Monday. UBS Group upped their price objective on shares of T. Rowe Price Group from $86.00 to $102.00 and gave the stock a "sell" rating in a report on Wednesday, January 10th. JPMorgan Chase & Co. upped their price objective on shares of T. Rowe Price Group from $90.00 to $94.00 and gave the stock an "underweight" rating in a report on Friday, February 9th. Finally, Citigroup upped their target price on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the stock a "neutral" rating in a research report on Friday. Four equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $106.33.
Read Our Latest Analysis on TROW
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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