Cambridge Investment Research Advisors Inc. grew its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,698 shares of the asset manager’s stock after purchasing an additional 1,497 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in T. Rowe Price Group were worth $2,511,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently made changes to their positions in TROW. Signature Estate & Investment Advisors LLC bought a new stake in T. Rowe Price Group during the third quarter valued at about $118,000. Bronfman E.L. Rothschild L.P. boosted its holdings in T. Rowe Price Group by 6.9% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,593 shares of the asset manager’s stock worth $118,000 after acquiring an additional 103 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in T. Rowe Price Group by 5.4% in the second quarter. Quadrant Capital Group LLC now owns 1,749 shares of the asset manager’s stock worth $121,000 after acquiring an additional 89 shares in the last quarter. Sun Life Financial INC boosted its holdings in T. Rowe Price Group by 19,500.0% in the second quarter. Sun Life Financial INC now owns 1,764 shares of the asset manager’s stock worth $131,000 after acquiring an additional 1,755 shares in the last quarter. Finally, Mckinley Capital Management LLC Delaware acquired a new stake in T. Rowe Price Group in the second quarter worth about $152,000. Hedge funds and other institutional investors own 72.21% of the company’s stock.
In related news, Director Anne M. Whittemore sold 4,163 shares of the company’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $90.64, for a total value of $377,334.32. Following the completion of 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 can be accessed through the SEC website. Also, CEO William J. Stromberg sold 30,000 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $97.09, for a total value of $2,912,700.00. Following the sale, the chief executive officer now directly owns 534,077 shares of the company’s stock, valued at $51,853,535.93. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 81,705 shares of company stock worth $7,861,938. 3.60% of the stock is owned by company insiders.
TROW has been the subject of several research analyst reports. Zacks Investment Research upgraded T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $93.00 price target for the company in a research report on Tuesday, September 12th. Jefferies Group reiterated a “buy” rating and set a $96.00 price target on shares of T. Rowe Price Group in a research report on Sunday, August 20th. Goldman Sachs Group upgraded T. Rowe Price Group from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $85.00 to $100.00 in a research report on Thursday, September 28th. Morgan Stanley upgraded T. Rowe Price Group from an “underweight” rating to an “equal” rating and boosted their price objective for the company from $77.00 to $93.00 in a research report on Thursday, October 5th. Finally, Citigroup boosted their price objective on T. Rowe Price Group from $94.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, October 27th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $89.50.
T. Rowe Price Group, Inc. (NASDAQ TROW) traded up $0.03 during midday trading on Monday, reaching $102.82. The company’s stock had a trading volume of 2,102,437 shares, compared to its average volume of 1,670,282. T. Rowe Price Group, Inc. has a one year low of $65.33 and a one year high of $103.85. The firm has a market capitalization of $24,907.04, a price-to-earnings ratio of 20.08, a P/E/G ratio of 1.89 and a beta of 1.32.
T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Thursday, October 26th. The asset manager reported $1.56 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 the consensus estimate of $1.22 billion. During the same quarter in the previous year, the business earned $1.17 EPS. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. research analysts forecast 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. Shareholders of record on Thursday, December 14th will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Wednesday, December 13th. This represents a $2.28 annualized dividend and a yield of 2.22%. T. Rowe Price Group’s dividend payout ratio (DPR) is 37.38%.
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About T. Rowe Price Group
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.
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