Alliancebernstein L.P. boosted its stake in T. Rowe Price Group Inc (NASDAQ:TROW) by 0.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 468,190 shares of the asset manager’s stock after purchasing an additional 3,555 shares during the quarter. Alliancebernstein L.P. owned about 0.19% of T. Rowe Price Group worth $49,127,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently made changes to their positions in the company. Global X MANAGEMENT CO LLC raised its stake in shares of T. Rowe Price Group by 14.2% during the third quarter. Global X MANAGEMENT CO LLC now owns 5,888 shares of the asset manager’s stock worth $534,000 after acquiring an additional 733 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new position in shares of T. Rowe Price Group in the third quarter worth $3,148,000. New York State Common Retirement Fund increased its stake in shares of T. Rowe Price Group by 0.4% in the third quarter. New York State Common Retirement Fund now owns 688,700 shares of the asset manager’s stock worth $62,431,000 after buying an additional 2,800 shares during the period. Toronto Dominion Bank increased its stake in shares of T. Rowe Price Group by 11.4% in the third quarter. Toronto Dominion Bank now owns 91,796 shares of the asset manager’s stock worth $8,321,000 after buying an additional 9,392 shares during the period. Finally, First National Trust Co. increased its stake in shares of T. Rowe Price Group by 9.8% in the third quarter. First National Trust Co. now owns 18,134 shares of the asset manager’s stock worth $1,644,000 after buying an additional 1,620 shares during the period. 72.88% of the stock is currently owned by institutional investors and hedge funds.
In other news, 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, 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 owns 100,796 shares in the company, valued at approximately $10,494,879.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 103,671 shares of company stock worth $10,707,156. 3.60% of the stock is currently owned by company insiders.
Shares of T. Rowe Price Group Inc (TROW) opened at $116.97 on Wednesday. The firm has a market cap of $28,840.00, a price-to-earnings ratio of 18.69, a P/E/G ratio of 1.33 and a beta of 1.22. T. Rowe Price Group Inc has a fifty-two week low of $66.70 and a fifty-two week high of $120.07.
T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Tuesday, January 30th. The asset manager reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.04. The business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.27 billion. T. Rowe Price Group had a net margin of 31.07% and a return on equity of 25.30%. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.21 earnings per share. equities analysts expect that T. Rowe Price Group Inc will post 7.13 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 15th will be issued a $0.70 dividend. The ex-dividend date is Wednesday, March 14th. This represents a $2.80 annualized dividend and a yield of 2.39%. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $0.57. T. Rowe Price Group’s payout ratio is 36.42%.
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About T. Rowe Price Group
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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