Caisse DE Depot ET Placement DU Quebec trimmed its stake in shares of T. Rowe Price (NASDAQ:TROW) by 26.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,284 shares of the asset manager’s stock after selling 5,400 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in T. Rowe Price were worth $1,604,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of TROW. BlackRock Inc. grew its stake in T. Rowe Price by 5.2% in the 4th quarter. BlackRock Inc. now owns 17,331,073 shares of the asset manager’s stock worth $1,818,551,000 after acquiring an additional 851,752 shares during the period. JPMorgan Chase & Co. grew its stake in T. Rowe Price by 1.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,974,559 shares of the asset manager’s stock worth $1,079,267,000 after acquiring an additional 218,211 shares during the period. Geode Capital Management LLC grew its stake in T. Rowe Price by 4.0% in the 4th quarter. Geode Capital Management LLC now owns 3,169,650 shares of the asset manager’s stock worth $332,026,000 after acquiring an additional 121,905 shares during the period. Ameriprise Financial Inc. grew its stake in T. Rowe Price by 11.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,782,523 shares of the asset manager’s stock worth $161,591,000 after acquiring an additional 182,317 shares during the period. Finally, Provident Trust Co. grew its stake in T. Rowe Price by 1.3% in the 4th quarter. Provident Trust Co. now owns 1,544,881 shares of the asset manager’s stock worth $162,104,000 after acquiring an additional 19,296 shares during the period. Institutional investors own 72.84% of the company’s stock.
TROW has been the subject of several research reports. BidaskClub raised shares of T. Rowe Price from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 27th. Citigroup lowered their price objective on shares of T. Rowe Price from $120.00 to $115.00 and set a “neutral” rating for the company in a research note on Thursday, February 22nd. ValuEngine raised shares of T. Rowe Price from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Morgan Stanley decreased their price target on shares of T. Rowe Price from $115.00 to $112.00 and set a “hold” rating for the company in a research report on Tuesday, February 13th. Finally, Bank of America raised shares of T. Rowe Price from a “neutral” rating to a “buy” rating and upped their price target for the stock from $113.00 to $125.00 in a research report on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $110.80.
Shares of T. Rowe Price stock traded down $3.15 during trading on Friday, reaching $104.38. The company had a trading volume of 1,509,739 shares, compared to its average volume of 1,863,541. The firm has a market cap of $26,301.57, a PE ratio of 19.22, a price-to-earnings-growth ratio of 1.22 and a beta of 1.21. T. Rowe Price has a fifty-two week low of $67.62 and a fifty-two week high of $120.07.
T. Rowe Price (NASDAQ:TROW) last issued its earnings results on Tuesday, January 30th. The asset manager reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.04. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.27 billion. T. Rowe Price had a net margin of 31.07% and a return on equity of 25.30%. The company’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.21 EPS. equities analysts expect that T. Rowe Price will post 7.12 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Thursday, March 15th were paid a dividend of $0.70 per share. This is a positive change from T. Rowe Price’s previous quarterly dividend of $0.57. The ex-dividend date was Wednesday, March 14th. This represents a $2.80 annualized dividend and a yield of 2.68%. T. Rowe Price’s dividend payout ratio is 51.57%.
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About T. Rowe Price
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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