IBM Retirement Fund decreased its holdings in shares of T. Rowe Price Group Inc (NASDAQ:TROW) by 5.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,365 shares of the asset manager’s stock after selling 181 shares during the quarter. IBM Retirement Fund’s holdings in T. Rowe Price Group were worth $410,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in TROW. North Star Investment Management Corp. bought a new position in shares of T. Rowe Price Group in the third quarter worth $27,000. Mechanics Bank Trust Department purchased a new position in shares of T. Rowe Price Group during the 3rd quarter valued at $31,000. Thor Advisors LLC purchased a new position in shares of T. Rowe Price Group during the 3rd quarter valued at $34,000. Quantum Capital Management purchased a new position in shares of T. Rowe Price Group during the 3rd quarter valued at $41,000. Finally, Usca Ria LLC purchased a new position in shares of T. Rowe Price Group during the 3rd quarter valued at $45,000. 70.36% of the stock is owned by institutional investors and hedge funds.
TROW has been the topic of a number of recent research reports. Deutsche Bank upped their price target on T. Rowe Price Group from $130.00 to $132.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. BidaskClub raised T. Rowe Price Group from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Wells Fargo & Co raised T. Rowe Price Group from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $114.00 to $145.00 in a report on Thursday, January 2nd. BMO Capital Markets began coverage on T. Rowe Price Group in a research note on Monday, October 7th. They issued a “market perform” rating and a $101.00 target price on the stock. Finally, Morgan Stanley upped their target price on T. Rowe Price Group from $122.00 to $131.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. T. Rowe Price Group presently has an average rating of “Hold” and a consensus price target of $118.83.
T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Thursday, October 24th. The asset manager reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.15. The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.99 earnings per share. As a group, analysts predict that T. Rowe Price Group Inc will post 7.98 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 16th were given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend was Friday, December 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 42.52%.
In related news, insider Jessica M. Hiebler sold 800 shares of T. Rowe Price Group stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $123.38, for a total value of $98,704.00. Following the completion of the sale, the insider now owns 11,254 shares in the company, valued at approximately $1,388,518.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP W. Sharps Robert sold 12,400 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $123.70, for a total transaction of $1,533,880.00. Following the completion of the transaction, the vice president now owns 446,726 shares of the company’s stock, valued at approximately $55,260,006.20. The disclosure for this sale can be found here. Insiders have sold a total of 16,702 shares of company stock worth $2,061,719 over the last 90 days. Insiders own 3.10% of the company’s stock.
T. Rowe Price Group 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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