Duality Advisers LP bought a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 17,601 shares of the asset manager's stock, valued at approximately $1,895,000.
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Several other hedge funds have also bought and sold shares of the company. MCF Advisors LLC lifted its stake in T. Rowe Price Group by 258.7% in the 4th quarter. MCF Advisors LLC now owns 5,861 shares of the asset manager's stock valued at $631,000 after purchasing an additional 4,227 shares during the last quarter. Capital Investment Advisory Services LLC lifted its stake in T. Rowe Price Group by 56.3% in the 4th quarter. Capital Investment Advisory Services LLC now owns 5,281 shares of the asset manager's stock valued at $569,000 after purchasing an additional 1,902 shares during the last quarter. OLD National Bancorp IN lifted its stake in T. Rowe Price Group by 3.5% in the 4th quarter. OLD National Bancorp IN now owns 59,116 shares of the asset manager's stock valued at $6,366,000 after purchasing an additional 2,008 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in T. Rowe Price Group by 6.2% in the 4th quarter. Handelsbanken Fonder AB now owns 32,042 shares of the asset manager's stock valued at $3,451,000 after purchasing an additional 1,877 shares during the last quarter. Finally, Verdence Capital Advisors LLC lifted its stake in T. Rowe Price Group by 9.6% in the 4th quarter. Verdence Capital Advisors LLC now owns 26,028 shares of the asset manager's stock valued at $2,803,000 after purchasing an additional 2,280 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
TROW has been the topic of several research analyst reports. Morgan Stanley increased their price target on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the company an "equal weight" rating in a report on Wednesday, April 17th. TD Cowen raised shares of T. Rowe Price Group from a "sell" rating to a "hold" rating and increased their price target for the company from $92.00 to $114.00 in a report on Monday, April 8th. JPMorgan Chase & Co. increased their price target on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the company an "underweight" rating in a report on Tuesday, April 16th. Citigroup increased their price target on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the company a "neutral" rating in a report on Friday, April 5th. Finally, UBS Group increased their price target on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the company a "sell" rating in a report on Friday, April 12th. Four equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $112.67.
Get Our Latest Stock Analysis on TROW
T. Rowe Price Group Trading Up 2.5 %
Shares of TROW opened at $111.50 on Tuesday. T. Rowe Price Group, Inc. has a 12 month low of $87.43 and a 12 month high of $132.76. The firm's 50 day moving average is $114.75 and its 200-day moving average is $106.89. The stock has a market capitalization of $24.94 billion, a PE ratio of 14.37, a P/E/G ratio of 2.04 and a beta of 1.40.
T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its earnings results on Thursday, February 8th. The asset manager reported $1.72 EPS for the quarter, topping the consensus estimate of $1.60 by $0.12. The company had revenue of $1.64 billion for the quarter, compared to analysts' expectations of $1.63 billion. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.41%. The business's revenue for the quarter was up 6.5% on a year-over-year basis. During the same period last year, the firm earned $1.74 earnings per share. Equities research analysts predict that T. Rowe Price Group, Inc. will post 8.36 earnings per share for the current fiscal year.
T. Rowe Price Group Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 4.45%. This is a boost from T. Rowe Price Group's previous quarterly dividend of $1.22. The ex-dividend date of this dividend was Thursday, March 14th. T. Rowe Price Group's dividend payout ratio (DPR) is 63.92%.
Insider Activity at T. Rowe Price Group
In related news, 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 value of $1,034,116.80. Following the transaction, the director now directly owns 21,073 shares of the company's stock, valued at $2,493,357.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other T. Rowe Price Group 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 sale, the insider now owns 14,113 shares in the company, valued at $1,511,925.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 on Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the transaction, the director now 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 Profile
(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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Want to see what other hedge funds are holding TROW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report).
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