Vident Investment Advisory LLC bought a new position in T. Rowe Price Group Inc (NASDAQ:TROW) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 31,824 shares of the asset manager’s stock, valued at approximately $2,885,000.
Other hedge funds also recently bought and sold shares of the company. Capital World Investors increased its stake in T. Rowe Price Group by 235.0% in the 2nd quarter. Capital World Investors now owns 10,512,236 shares of the asset manager’s stock worth $780,113,000 after acquiring an additional 7,373,953 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in T. Rowe Price Group by 526.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,774,796 shares of the asset manager’s stock worth $131,707,000 after acquiring an additional 1,491,425 shares during the last quarter. American Century Companies Inc. increased its stake in T. Rowe Price Group by 66.4% in the 2nd quarter. American Century Companies Inc. now owns 2,544,655 shares of the asset manager’s stock worth $188,839,000 after acquiring an additional 1,015,518 shares during the last quarter. Bahl & Gaynor Inc. increased its stake in T. Rowe Price Group by 65.5% in the 2nd quarter. Bahl & Gaynor Inc. now owns 1,225,132 shares of the asset manager’s stock worth $92,203,000 after acquiring an additional 484,994 shares during the last quarter. Finally, Obermeyer Wood Investment Counsel Lllp bought a new stake in T. Rowe Price Group in the 2nd quarter worth approximately $33,260,000. 72.13% of the stock is currently owned by hedge funds and other institutional investors.
Shares of T. Rowe Price Group Inc (NASDAQ:TROW) traded down $1.85 during mid-day trading on Tuesday, reaching $103.08. The company’s stock had a trading volume of 1,600,000 shares, compared to its average volume of 1,460,000. T. Rowe Price Group Inc has a 52 week low of $65.33 and a 52 week high of $106.10. The stock has a market capitalization of $24,980.00, a P/E ratio of 16.87, a P/E/G ratio of 1.93 and a beta of 1.31.
T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Thursday, October 26th. The asset manager reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.20. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. T. Rowe Price Group had a return on equity of 24.76% and a net margin of 33.10%. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.17 earnings per share. research analysts forecast that T. Rowe Price Group Inc will post 5.29 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, December 28th. Stockholders of record on Thursday, December 14th were given a dividend of $0.57 per share. The ex-dividend date was Wednesday, December 13th. This represents a $2.28 annualized dividend and a dividend yield of 2.21%. T. Rowe Price Group’s dividend payout ratio is currently 37.32%.
In other T. Rowe Price Group news, CFO Kenneth V. Moreland sold 14,419 shares of T. Rowe Price Group stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $97.07, for a total transaction of $1,399,652.33. Following the completion of the sale, the chief financial officer now directly owns 125,264 shares of the company’s stock, valued at approximately $12,159,376.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Christopher D. Alderson sold 91,605 shares of T. Rowe Price Group stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $103.28, for a total value of $9,460,964.40. Following the sale, the vice president now owns 169,816 shares in the company, valued at approximately $17,538,596.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 196,914 shares of company stock valued at $19,936,897. Company insiders own 3.60% of the company’s stock.
A number of equities analysts have recently commented on the company. Zacks Investment Research upgraded T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $118.00 price objective for the company in a report on Wednesday, December 27th. Goldman Sachs Group raised T. Rowe Price Group from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $85.00 to $100.00 in a research report on Thursday, September 28th. Barclays began coverage on T. Rowe Price Group in a research report on Friday, September 8th. They issued an “underweight” rating and a $79.00 price target for the company. Morgan Stanley raised T. Rowe Price Group from an “underweight” rating to an “equal” rating and upped their target price for the company from $77.00 to $93.00 in a research report on Thursday, October 5th. Finally, UBS Group upped their target price on T. Rowe Price Group from $69.00 to $72.00 and gave the company a “sell” rating in a research report on Friday, October 27th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. T. Rowe Price Group has an average rating of “Hold” and a consensus price target of $91.89.
T. Rowe Price Group Company 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.
Receive News & Ratings for T. Rowe Price Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for T. Rowe Price Group and related companies with MarketBeat.com's FREE daily email newsletter.