34,816 Shares in T. Rowe Price Group, Inc. (TROW) Acquired by Meag Munich Ergo Kapitalanlagegesellschaft MBH

Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 34,816 shares of the asset manager’s stock, valued at approximately $3,148,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TROW. Thrivent Financial For Lutherans increased its holdings in shares of T. Rowe Price Group by 4.2% in the first quarter. Thrivent Financial For Lutherans now owns 8,918 shares of the asset manager’s stock worth $608,000 after buying an additional 360 shares during the period. Renaissance Technologies LLC purchased a new position in shares of T. Rowe Price Group in the first quarter worth about $3,352,000. Heritage Investors Management Corp increased its holdings in shares of T. Rowe Price Group by 1.0% in the second quarter. Heritage Investors Management Corp now owns 270,440 shares of the asset manager’s stock worth $20,069,000 after buying an additional 2,621 shares during the period. Private Trust Co. NA increased its holdings in shares of T. Rowe Price Group by 0.8% in the second quarter. Private Trust Co. NA now owns 7,307 shares of the asset manager’s stock worth $542,000 after buying an additional 60 shares during the period. Finally, Confluence Investment Management LLC increased its holdings in shares of T. Rowe Price Group by 5.3% in the second quarter. Confluence Investment Management LLC now owns 171,624 shares of the asset manager’s stock worth $12,736,000 after buying an additional 8,700 shares during the period. Hedge funds and other institutional investors own 72.28% of the company’s stock.

In other news, Director Anne M. Whittemore sold 4,163 shares of the business’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $90.64, for a total value of $377,334.32. Following the sale, the director now directly owns 29,070 shares of the company’s stock, valued at approximately $2,634,904.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Kenneth V. Moreland sold 13,041 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $90.43, for a total value of $1,179,297.63. Following the completion of the sale, the chief financial officer now directly owns 135,028 shares in the company, valued at $12,210,582.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,204 shares of company stock worth $1,640,922. Insiders own 3.60% of the company’s stock.

Shares of T. Rowe Price Group, Inc. (NASDAQ TROW) opened at $93.41 on Tuesday. The firm has a market capitalization of $22,672.95, a P/E ratio of 18.27, a price-to-earnings-growth ratio of 1.72 and a beta of 1.29. T. Rowe Price Group, Inc. has a 12-month low of $65.33 and a 12-month high of $97.35.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Thursday, October 26th. The asset manager reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.20. T. Rowe Price Group had a return on equity of 24.76% and a net margin of 33.10%. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the previous year, the firm posted $1.17 EPS. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. equities analysts predict that T. Rowe Price Group, Inc. will post 5.29 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, December 14th will be given a $0.57 dividend. The ex-dividend date is Wednesday, December 13th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.44%. T. Rowe Price Group’s dividend payout ratio is currently 37.38%.

Several research analysts have recently commented on TROW shares. Jefferies Group LLC reiterated a “buy” rating and issued a $104.00 price objective (up previously from $96.00) on shares of T. Rowe Price Group in a report on Tuesday, October 10th. ValuEngine upgraded T. Rowe Price Group from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Zacks Investment Research cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Wednesday, September 13th. Wells Fargo & Company reissued a “market perform” rating on shares of T. Rowe Price Group in a research note on Thursday, July 27th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $71.00 target price (up from $70.00) on shares of T. Rowe Price Group in a research note on Tuesday, July 18th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. T. Rowe Price Group presently has a consensus rating of “Hold” and an average target price of $89.50.

WARNING: This piece of content was originally published by TrueBlueTribune and is the property of of TrueBlueTribune. If you are reading this piece of content on another publication, it was illegally stolen and republished in violation of US and international copyright law. The correct version of this piece of content can be viewed at https://www.truebluetribune.com/2017/11/14/34816-shares-in-t-rowe-price-group-inc-trow-acquired-by-meag-munich-ergo-kapitalanlagegesellschaft-mbh.html.

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.

Want to see what other hedge funds are holding TROW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for T. Rowe Price Group, Inc. (NASDAQ:TROW).

Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

Receive News & Ratings for T. Rowe Price Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for T. Rowe Price Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply