Everence Capital Management Inc. Buys Shares of 4,600 T. Rowe Price Group Inc (NASDAQ:TROW)

Everence Capital Management Inc. bought a new position in T. Rowe Price Group Inc (NASDAQ:TROW) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,600 shares of the asset manager’s stock, valued at approximately $483,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of TROW. Thrivent Financial For Lutherans raised its holdings in T. Rowe Price Group by 2.2% during the second quarter. Thrivent Financial For Lutherans now owns 9,118 shares of the asset manager’s stock valued at $677,000 after acquiring an additional 200 shares during the period. QS Investors LLC grew its position in shares of T. Rowe Price Group by 43.8% in the 2nd quarter. QS Investors LLC now owns 4,595 shares of the asset manager’s stock valued at $341,000 after purchasing an additional 1,400 shares during the period. First Allied Advisory Services Inc. grew its position in shares of T. Rowe Price Group by 10.3% in the 2nd quarter. First Allied Advisory Services Inc. now owns 3,839 shares of the asset manager’s stock valued at $283,000 after purchasing an additional 359 shares during the period. Prudential PLC acquired a new position in shares of T. Rowe Price Group in the 2nd quarter valued at approximately $437,000. Finally, Flinton Capital Management LLC grew its position in shares of T. Rowe Price Group by 6.9% in the 2nd quarter. Flinton Capital Management LLC now owns 4,448 shares of the asset manager’s stock valued at $330,000 after purchasing an additional 288 shares during the period. 71.89% of the stock is owned by institutional investors and hedge funds.

Several brokerages recently issued reports on TROW. Morgan Stanley set a $112.00 price objective on T. Rowe Price Group and gave the company a “hold” rating in a research report on Tuesday. ValuEngine raised T. Rowe Price Group from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. BidaskClub downgraded T. Rowe Price Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 31st. UBS Group raised T. Rowe Price Group from a “sell” rating to a “neutral” rating and upped their price target for the stock from $75.00 to $110.00 in a research report on Tuesday, January 9th. Finally, Bank of America upgraded T. Rowe Price Group from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $113.00 to $125.00 in a research note on Monday, January 8th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. T. Rowe Price Group presently has an average rating of “Hold” and an average price target of $100.60.

In other news, CFO Kenneth V. Moreland sold 8,066 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $104.12, for a total value of $839,831.92. Following the completion of the transaction, the chief financial officer now directly owns 100,796 shares in the company, valued at approximately $10,494,879.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christopher D. Alderson sold 6,808 shares of the company’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $102.83, for a total value of $700,066.64. Following the completion of the transaction, the vice president now owns 119,846 shares of the company’s stock, valued at $12,323,764.18. The disclosure for this sale can be found here. Insiders have sold 204,980 shares of company stock worth $20,776,729 over the last quarter. 3.60% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Inc (NASDAQ TROW) traded up $0.80 during trading hours on Wednesday, reaching $105.73. The company had a trading volume of 2,145,800 shares, compared to its average volume of 1,869,333. The firm has a market capitalization of $25,425.59, a price-to-earnings ratio of 17.71, a PEG ratio of 1.23 and a beta of 1.28. T. Rowe Price Group Inc has a fifty-two week low of $66.70 and a fifty-two week high of $120.07.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Tuesday, January 30th. The asset manager reported $1.52 EPS for the quarter, beating the consensus estimate of $1.48 by $0.04. T. Rowe Price Group had a return on equity of 25.30% and a net margin of 31.07%. The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same period last year, the company earned $1.21 earnings per share. The business’s quarterly revenue was up 17.9% on a year-over-year basis. sell-side analysts forecast that T. Rowe Price Group Inc will post 7.12 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 15th will be issued a dividend of $0.70 per share. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $0.57. This represents a $2.80 dividend on an annualized basis and a yield of 2.65%. T. Rowe Price Group’s dividend payout ratio (DPR) is 38.19%.

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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.

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

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