Crestline Management LP bought a new position in T. Rowe Price Group Inc (NASDAQ:TROW) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 77,365 shares of the asset manager’s stock, valued at approximately $8,118,000. T. Rowe Price Group accounts for about 0.8% of Crestline Management LP’s investment portfolio, making the stock its 9th largest holding.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Signature Estate & Investment Advisors LLC acquired a new stake in T. Rowe Price Group in the third quarter worth approximately $118,000. Grove Bank & Trust lifted its position in T. Rowe Price Group by 178.7% in the third quarter. Grove Bank & Trust now owns 1,310 shares of the asset manager’s stock worth $119,000 after purchasing an additional 840 shares during the period. Tower Research Capital LLC TRC lifted its position in T. Rowe Price Group by 50.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,472 shares of the asset manager’s stock worth $155,000 after purchasing an additional 491 shares during the period. Segall Bryant & Hamill LLC acquired a new stake in T. Rowe Price Group in the third quarter worth approximately $202,000. Finally, Stock Yards Bank & Trust Co. acquired a new stake in T. Rowe Price Group in the fourth quarter worth approximately $205,000. Hedge funds and other institutional investors own 72.88% of the company’s stock.
Shares of T. Rowe Price Group Inc (NASDAQ TROW) traded down $0.82 during trading hours on Wednesday, hitting $116.15. The stock had a trading volume of 58,966 shares, compared to its average volume of 1,697,907. T. Rowe Price Group Inc has a one year low of $66.70 and a one year high of $120.07. The firm has a market cap of $28,639.92, a P/E ratio of 19.59, a PEG ratio of 1.33 and a beta of 1.22.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend is Wednesday, March 14th. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $0.57. T. Rowe Price Group’s dividend payout ratio is 38.19%.
In other T. Rowe Price Group news, CFO Kenneth V. Moreland sold 8,066 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $104.12, for a total transaction of $839,831.92. Following the sale, the chief financial officer now directly owns 100,796 shares of the company’s stock, valued at approximately $10,494,879.52. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Freeman A. Hrabowski III sold 4,000 shares of the business’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $101.59, for a total transaction of $406,360.00. The disclosure for this sale can be found here. Insiders have sold a total of 103,671 shares of company stock valued at $10,707,156 in the last quarter. Insiders own 3.60% of the company’s stock.
TROW has been the subject of a number of research analyst reports. TheStreet upgraded T. Rowe Price Group from a “c+” rating to a “b+” rating in a research report on Monday, March 5th. ValuEngine upgraded T. Rowe Price Group from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. BidaskClub downgraded T. Rowe Price Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 31st. Zacks Investment Research upgraded T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $118.00 target price for the company in a research report on Wednesday, December 27th. Finally, Bank of America upgraded T. Rowe Price Group from a “neutral” rating to a “buy” rating and increased their price objective for the company from $113.00 to $125.00 in a research report on Monday, January 8th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $110.50.
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T. Rowe Price Group Company Profile
T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.
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