Gamble Jones Investment Counsel lowered its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 12.7% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,200 shares of the asset manager’s stock after selling 1,050 shares during the period. Gamble Jones Investment Counsel’s holdings in T. Rowe Price Group were worth $1,236,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in the stock. HM Payson & Co. increased its position in T. Rowe Price Group by 5.5% during the 4th quarter. HM Payson & Co. now owns 1,115 shares of the asset manager’s stock worth $169,000 after purchasing an additional 58 shares in the last quarter. Cordatus Wealth Management LLC lifted its stake in shares of T. Rowe Price Group by 0.7% in the 1st quarter. Cordatus Wealth Management LLC now owns 10,889 shares of the asset manager’s stock valued at $1,868,000 after acquiring an additional 75 shares during the last quarter. D Orazio & Associates Inc. grew its position in T. Rowe Price Group by 25.7% during the 4th quarter. D Orazio & Associates Inc. now owns 377 shares of the asset manager’s stock worth $57,000 after acquiring an additional 77 shares during the last quarter. Contravisory Investment Management Inc. grew its position in T. Rowe Price Group by 1.8% during the 1st quarter. Contravisory Investment Management Inc. now owns 4,618 shares of the asset manager’s stock worth $792,000 after acquiring an additional 83 shares during the last quarter. Finally, Cresset Asset Management LLC increased its holdings in T. Rowe Price Group by 2.7% in the 4th quarter. Cresset Asset Management LLC now owns 3,368 shares of the asset manager’s stock worth $510,000 after purchasing an additional 88 shares in the last quarter. Institutional investors and hedge funds own 69.68% of the company’s stock.
In related news, CEO William J. Stromberg sold 9,000 shares of the firm’s stock in a transaction dated Thursday, March 11th. The shares were sold at an average price of $173.78, for a total value of $1,564,020.00. Also, President W. Sharps Robert sold 6,000 shares of T. Rowe Price Group stock in a transaction dated Monday, March 29th. The shares were sold at an average price of $176.75, for a total value of $1,060,500.00. Following the transaction, the president now owns 472,138 shares of the company’s stock, valued at approximately $83,450,391.50. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.
Several research analysts have recently issued reports on TROW shares. Wells Fargo & Company upped their price objective on T. Rowe Price Group from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Tuesday, April 20th. Morgan Stanley raised their price target on shares of T. Rowe Price Group from $181.00 to $186.00 and gave the company an “equal weight” rating in a research note on Thursday, May 6th. Zacks Investment Research cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating and set a $191.00 price objective on the stock. in a research note on Saturday, May 1st. Credit Suisse Group lowered T. Rowe Price Group from an “outperform” rating to a “neutral” rating and raised their target price for the stock from $179.00 to $181.00 in a research report on Tuesday, March 30th. They noted that the move was a valuation call. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell reiterated a “sell” rating and issued a $157.00 price target on shares of T. Rowe Price Group in a research report on Tuesday, April 20th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $166.36.
T. Rowe Price Group stock opened at $190.21 on Friday. The stock has a market capitalization of $43.15 billion, a price-to-earnings ratio of 16.15, a PEG ratio of 1.25 and a beta of 1.16. T. Rowe Price Group, Inc. has a 52-week low of $117.13 and a 52-week high of $193.26. The stock’s 50 day moving average price is $183.25 and its two-hundred day moving average price is $164.15.
T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Thursday, April 29th. The asset manager reported $3.01 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.09. T. Rowe Price Group had a net margin of 41.97% and a return on equity of 33.97%. The firm had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same quarter in the prior year, the business earned $1.87 earnings per share. The business’s quarterly revenue was up 24.9% compared to the same quarter last year. Sell-side analysts expect that T. Rowe Price Group, Inc. will post 12.3 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 29th. Investors of record on Tuesday, June 15th will be issued a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Monday, June 14th. T. Rowe Price Group’s dividend payout ratio is currently 45.09%.
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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