Rockland Trust Co. Sells 5,998 Shares of T. Rowe Price Group Inc (TROW)

Rockland Trust Co. lessened its holdings in T. Rowe Price Group Inc (NASDAQ:TROW) by 5.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 104,547 shares of the asset manager’s stock after selling 5,998 shares during the period. T. Rowe Price Group comprises approximately 1.4% of Rockland Trust Co.’s holdings, making the stock its 25th biggest position. Rockland Trust Co.’s holdings in T. Rowe Price Group were worth $10,970,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Signature Estate & Investment Advisors LLC purchased a new position in shares of T. Rowe Price Group in the third quarter valued at $118,000. Grove Bank & Trust grew its holdings in shares of T. Rowe Price Group by 178.7% in the third quarter. Grove Bank & Trust now owns 1,310 shares of the asset manager’s stock valued at $119,000 after purchasing an additional 840 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in shares of 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 valued at $121,000 after purchasing an additional 89 shares in the last quarter. Sun Life Financial INC grew its holdings in shares of 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 valued at $131,000 after purchasing an additional 1,755 shares in the last quarter. Finally, Stock Yards Bank & Trust Co. purchased a new position in shares of T. Rowe Price Group in the fourth quarter valued at $205,000. Hedge funds and other institutional investors own 72.38% of the company’s stock.

Several research analysts have commented on TROW shares. Zacks Investment Research lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Wednesday, December 6th. Jefferies Group reaffirmed a “buy” rating and set a $104.00 price objective (up from $96.00) on shares of T. Rowe Price Group in a research note on Tuesday, October 10th. Citigroup lifted their price objective on shares of T. Rowe Price Group from $94.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, October 27th. UBS Group lifted their price objective on shares of T. Rowe Price Group from $69.00 to $72.00 and gave the stock a “sell” rating in a research note on Friday, October 27th. Finally, Barclays lifted their price objective on shares of T. Rowe Price Group from $79.00 to $84.00 and gave the stock an “underweight” rating in a research note on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. T. Rowe Price Group presently has an average rating of “Hold” and a consensus target price of $98.70.

T. Rowe Price Group Inc (NASDAQ TROW) traded up $0.79 during mid-day trading on Thursday, hitting $113.06. The company had a trading volume of 1,953,648 shares, compared to its average volume of 1,238,943. The company has a market capitalization of $27,000.00, a P/E ratio of 18.50, a P/E/G ratio of 1.73 and a beta of 1.32. T. Rowe Price Group Inc has a 12-month low of $65.33 and a 12-month high of $112.70.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Thursday, October 26th. The asset manager reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.20. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the company posted $1.17 earnings per share. sell-side analysts forecast that T. Rowe Price Group Inc will post 5.29 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 28th. Investors of record on Thursday, December 14th were issued a $0.57 dividend. The ex-dividend date of this dividend was Wednesday, December 13th. This represents a $2.28 annualized dividend and a dividend yield of 2.02%. T. Rowe Price Group’s payout ratio is currently 37.32%.

In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 4,000 shares of the business’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $101.59, for a total value of $406,360.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Christopher D. Alderson sold 91,605 shares of the business’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $103.28, for a total transaction of $9,460,964.40. Following the completion of the transaction, the vice president now owns 169,816 shares of the company’s stock, valued at $17,538,596.48. The disclosure for this sale can be found here. Insiders sold 204,980 shares of company stock valued at $20,776,729 over the last 90 days. 3.60% of the stock is currently owned by corporate insiders.

TRADEMARK VIOLATION WARNING: “Rockland Trust Co. Sells 5,998 Shares of T. Rowe Price Group Inc (TROW)” was posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this news story on another website, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright law. The legal version of this news story can be read at https://www.dispatchtribunal.com/2018/01/11/rockland-trust-co-sells-5998-shares-of-t-rowe-price-group-inc-trow.html.

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.

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 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.

Leave a Reply