Strs Ohio bought a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 10,328 shares of the asset manager's stock, valued at approximately $1,112,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new stake in shares of T. Rowe Price Group in the third quarter valued at approximately $25,000. Creative Financial Designs Inc. ADV increased its stake in shares of T. Rowe Price Group by 83.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager's stock worth $25,000 after acquiring an additional 106 shares during the last quarter. Park Place Capital Corp raised its holdings in shares of T. Rowe Price Group by 1,775.0% during the 4th quarter. Park Place Capital Corp now owns 300 shares of the asset manager's stock worth $32,000 after acquiring an additional 284 shares during the period. Fortitude Family Office LLC purchased a new position in shares of T. Rowe Price Group during the 4th quarter worth $33,000. Finally, NBC Securities Inc. acquired a new position in shares of T. Rowe Price Group during the 3rd quarter valued at about $39,000. Institutional investors and hedge funds own 73.39% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on TROW. StockNews.com lowered shares of T. Rowe Price Group from a "buy" rating to a "hold" rating in a report on Friday, February 9th. Citigroup upped their price objective on T. Rowe Price Group from $110.00 to $125.00 and gave the company a "neutral" rating in a report on Friday, April 5th. Keefe, Bruyette & Woods raised T. Rowe Price Group from an "underperform" rating to a "market perform" rating and raised their target price for the stock from $106.00 to $120.00 in a research note on Thursday, April 11th. Wells Fargo & Company upped their price target on T. Rowe Price Group from $105.00 to $108.00 and gave the company an "underweight" rating in a research note on Friday, February 9th. Finally, JPMorgan Chase & Co. increased their price target on T. Rowe Price Group from $94.00 to $103.00 and gave the stock an "underweight" rating in a report on Tuesday, April 16th. Four research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat.com, T. Rowe Price Group presently has a consensus rating of "Hold" and an average price target of $112.67.
Read Our Latest Analysis on TROW
T. Rowe Price Group Trading Up 0.4 %
T. Rowe Price Group stock opened at $111.94 on Wednesday. The firm has a market capitalization of $25.03 billion, a P/E ratio of 14.43, a P/E/G ratio of 2.09 and a beta of 1.40. T. Rowe Price Group, Inc. has a twelve month low of $87.43 and a twelve month high of $132.76. The stock's fifty day simple moving average is $114.89 and its 200-day simple moving average is $106.95.
T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings results on Thursday, February 8th. The asset manager reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.12. T. Rowe Price Group had a return on equity of 18.41% and a net margin of 27.69%. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the prior year, the business earned $1.74 EPS. T. Rowe Price Group's revenue was up 6.5% on a year-over-year basis. Sell-side analysts predict that T. Rowe Price Group, Inc. will post 8.36 earnings per share for the current year.
T. Rowe Price Group Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a dividend of $1.24 per share. The ex-dividend date was Thursday, March 14th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.43%. This is an increase from T. Rowe Price Group's previous quarterly dividend of $1.22. T. Rowe Price Group's payout ratio is presently 63.92%.
Insider Activity at T. Rowe Price Group
In other news, Director Freeman A. Hrabowski III sold 8,740 shares of the company's stock in a transaction dated 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 completion of the transaction, the director now directly owns 21,073 shares of the company's stock, valued at approximately $2,493,357.36. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Jessica M. Hiebler sold 1,138 shares of the business's stock in a transaction 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 completion of the sale, the insider now directly owns 14,113 shares of the company's stock, valued at $1,511,925.69. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the firm's stock in a transaction dated Friday, March 8th. The stock was 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 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 corporate insiders.
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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