Huntington National Bank increased its stake in T. Rowe Price Group Inc (NASDAQ:TROW) by 2.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,275 shares of the asset manager’s stock after acquiring an additional 842 shares during the period. Huntington National Bank’s holdings in T. Rowe Price Group were worth $3,459,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in TROW. North Star Investment Management Corp. acquired a new stake in T. Rowe Price Group in the third quarter valued at $27,000. Kistler Tiffany Companies LLC grew its holdings in shares of T. Rowe Price Group by 66.7% during the second quarter. Kistler Tiffany Companies LLC now owns 250 shares of the asset manager’s stock worth $27,000 after buying an additional 100 shares during the last quarter. Mechanics Bank Trust Department purchased a new position in shares of T. Rowe Price Group during the third quarter worth about $31,000. AdvisorNet Financial Inc grew its holdings in shares of T. Rowe Price Group by 121.1% during the second quarter. AdvisorNet Financial Inc now owns 294 shares of the asset manager’s stock worth $32,000 after buying an additional 161 shares during the last quarter. Finally, Usca Ria LLC purchased a new position in shares of T. Rowe Price Group during the third quarter worth about $45,000. Institutional investors and hedge funds own 69.58% of the company’s stock.
TROW traded down $0.63 during trading on Friday, hitting $119.75. The company’s stock had a trading volume of 33,827 shares, compared to its average volume of 1,081,644. The firm’s 50 day moving average price is $113.12 and its 200-day moving average price is $109.49. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.60 and a quick ratio of 3.60. The stock has a market cap of $27.84 billion, a PE ratio of 16.75, a PEG ratio of 1.76 and a beta of 1.04. T. Rowe Price Group Inc has a twelve month low of $84.59 and a twelve month high of $121.80.
T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Thursday, October 24th. The asset manager reported $2.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.98 by $0.15. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.43 billion. T. Rowe Price Group had a return on equity of 28.84% and a net margin of 35.28%. T. Rowe Price Group’s revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.99 EPS. Equities analysts anticipate that T. Rowe Price Group Inc will post 7.86 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be issued a $0.76 dividend. The ex-dividend date is Friday, December 13th. This represents a $3.04 annualized dividend and a yield of 2.54%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 42.52%.
A number of equities analysts recently issued reports on the company. BMO Capital Markets assumed coverage on T. Rowe Price Group in a report on Monday, October 7th. They set a “market perform” rating and a $101.00 price target on the stock. BidaskClub raised T. Rowe Price Group from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. ValuEngine lowered T. Rowe Price Group from a “hold” rating to a “sell” rating in a report on Monday, September 16th. Deutsche Bank lowered their price target on T. Rowe Price Group from $115.00 to $112.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Finally, Citigroup lowered their price target on T. Rowe Price Group from $116.00 to $110.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $110.54.
In other T. Rowe Price Group news, VP W. Sharps Robert sold 19,064 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $118.50, for a total value of $2,259,084.00. Following the completion of the transaction, the vice president now directly owns 467,715 shares in the company, valued at approximately $55,424,227.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.10% of the company’s stock.
T. Rowe Price Group Company Profile
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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