Cornerstone Capital Management Holdings LLC. boosted its holdings in T. Rowe Price Group Inc (NASDAQ:TROW) by 128.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 268,298 shares of the asset manager’s stock after purchasing an additional 151,059 shares during the period. Cornerstone Capital Management Holdings LLC. owned about 0.11% of T. Rowe Price Group worth $28,151,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of TROW. Signature Estate & Investment Advisors LLC purchased a new position in T. Rowe Price Group in the third quarter worth $118,000. Grove Bank & Trust boosted 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 last quarter. Tower Research Capital LLC TRC boosted 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 last quarter. Segall Bryant & Hamill LLC purchased a new position in T. Rowe Price Group in the third quarter worth $202,000. Finally, Stock Yards Bank & Trust Co. purchased a new position in shares of T. Rowe Price Group during the 4th quarter valued at $205,000. 72.88% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have recently commented on TROW shares. Zacks Investment Research cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Wednesday, December 6th. Bank of America raised T. Rowe Price Group from a “neutral” rating to a “buy” rating and upped their price target for the company from $113.00 to $125.00 in a research report on Monday, January 8th. UBS Group raised T. Rowe Price Group from a “sell” rating to a “neutral” rating and upped their price target for the company from $75.00 to $110.00 in a research report on Tuesday, January 9th. BidaskClub cut T. Rowe Price Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 31st. Finally, ValuEngine raised T. Rowe Price Group from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $110.50.
T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Tuesday, January 30th. The asset manager reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 25.30% and a net margin of 31.07%. The firm’s quarterly revenue was up 17.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.21 EPS. analysts anticipate that T. Rowe Price Group Inc will post 7.13 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 15th will be issued a dividend of $0.70 per share. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $0.57. The ex-dividend date is Wednesday, March 14th. This represents a $2.80 dividend on an annualized basis and a yield of 2.39%. T. Rowe Price Group’s dividend payout ratio is 38.19%.
In related news, Director Freeman A. Hrabowski III sold 4,000 shares of the stock in a transaction dated Thursday, December 14th. The stock was 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 available at the SEC website. Also, CFO Kenneth V. Moreland sold 8,066 shares of the stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $104.12, for a total value of $839,831.92. Following the sale, the chief financial officer now directly owns 100,796 shares in the company, valued at approximately $10,494,879.52. The disclosure for this sale can be found here. Insiders have sold a total of 103,671 shares of company stock worth $10,707,156 in the last three months. 3.60% of the stock is currently owned by insiders.
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T. Rowe Price Group 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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