Belpointe Asset Management LLC reduced its stake in T. Rowe Price (NASDAQ:TROW) by 13.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,872 shares of the asset manager’s stock after selling 882 shares during the period. Belpointe Asset Management LLC’s holdings in T. Rowe Price were worth $616,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in TROW. Grove Bank & Trust raised its stake in T. Rowe Price 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 buying an additional 840 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in T. Rowe Price by 50.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,472 shares of the asset manager’s stock valued at $155,000 after buying an additional 491 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new stake in T. Rowe Price in the third quarter valued at $202,000. Stock Yards Bank & Trust Co. acquired a new stake in T. Rowe Price in the fourth quarter valued at $205,000. Finally, Shelton Capital Management acquired a new stake in T. Rowe Price in the fourth quarter valued at $206,000. Institutional investors and hedge funds own 72.84% of the company’s stock.
Shares of TROW stock traded down $3.15 during mid-day trading on Friday, hitting $104.38. 1,512,584 shares of the stock were exchanged, compared to its average volume of 1,863,541. The firm has a market cap of $25,531.14, a price-to-earnings ratio of 19.22, a PEG ratio of 1.18 and a beta of 1.21. T. Rowe Price has a 12-month low of $67.62 and a 12-month high of $120.07.
T. Rowe Price (NASDAQ:TROW) last issued its quarterly earnings data on Tuesday, January 30th. The asset manager reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.04. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.27 billion. T. Rowe Price had a return on equity of 25.30% and a net margin of 31.07%. The business’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.21 earnings per share. research analysts forecast that T. Rowe Price will post 7.12 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Thursday, March 15th were issued a dividend of $0.70 per share. The ex-dividend date was Wednesday, March 14th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.68%. This is a positive change from T. Rowe Price’s previous quarterly dividend of $0.57. T. Rowe Price’s dividend payout ratio (DPR) is currently 51.57%.
A number of research firms have weighed in on TROW. Zacks Investment Research cut T. Rowe Price from a “buy” rating to a “hold” rating in a research note on Monday, March 12th. BidaskClub upgraded T. Rowe Price from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 27th. TheStreet upgraded T. Rowe Price from a “c+” rating to a “b+” rating in a research note on Monday, March 5th. ValuEngine upgraded T. Rowe Price from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, Deutsche Bank raised their price target on T. Rowe Price from $115.00 to $116.00 and gave the company a “hold” rating in a research note on Tuesday, March 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $110.80.
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T. Rowe Price Company 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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