Profund Advisors LLC lifted its holdings in shares of T. Rowe Price (NASDAQ:TROW) by 37.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,120 shares of the asset manager’s stock after buying an additional 2,191 shares during the quarter. Profund Advisors LLC’s holdings in T. Rowe Price were worth $852,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. BlackRock Inc. increased its position in shares of T. Rowe Price by 5.2% during the fourth quarter. BlackRock Inc. now owns 17,331,073 shares of the asset manager’s stock worth $1,818,551,000 after purchasing an additional 851,752 shares in the last quarter. AGF Investments Inc. purchased a new stake in shares of T. Rowe Price during the fourth quarter worth approximately $37,809,000. Prudential Financial Inc. increased its position in shares of T. Rowe Price by 94.1% during the third quarter. Prudential Financial Inc. now owns 709,261 shares of the asset manager’s stock worth $64,295,000 after purchasing an additional 343,926 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of T. Rowe Price by 397.0% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 409,400 shares of the asset manager’s stock worth $42,957,000 after purchasing an additional 327,033 shares in the last quarter. Finally, Mackenzie Financial Corp purchased a new stake in shares of T. Rowe Price during the third quarter worth approximately $28,685,000. 72.84% of the stock is owned by institutional investors and hedge funds.
TROW has been the subject of several research reports. Bank of America upgraded T. Rowe Price from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $113.00 to $125.00 in a research report on Monday, January 8th. BidaskClub upgraded T. Rowe Price from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 27th. Credit Suisse Group boosted their price target on T. Rowe Price from $123.00 to $128.00 and gave the stock a “neutral” rating in a research report on Thursday. Morgan Stanley set a $113.00 price target on T. Rowe Price and gave the stock a “hold” rating in a research report on Thursday, February 22nd. Finally, TheStreet upgraded T. Rowe Price from a “c+” rating to a “b+” rating in a research report on Monday, March 5th. 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 stock. The company has a consensus rating of “Hold” and a consensus price target of $110.80.
NASDAQ:TROW traded down $3.15 during trading hours on Friday, hitting $104.38. The company had a trading volume of 1,512,584 shares, compared to its average volume of 1,863,541. The stock has a market cap of $25,531.14, a P/E ratio of 19.22, a PEG ratio of 1.18 and a beta of 1.21. T. Rowe Price has a 1 year low of $67.62 and a 1 year 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 the Thomson Reuters’ consensus estimate of $1.48 by $0.04. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.27 billion. T. Rowe Price had a return on equity of 25.30% and a net margin of 31.07%. The firm’s quarterly revenue was up 17.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.21 EPS. analysts predict that T. Rowe Price will post 7.12 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th were issued a $0.70 dividend. This is a boost from T. Rowe Price’s previous quarterly dividend of $0.57. This represents a $2.80 annualized dividend and a yield of 2.68%. The ex-dividend date was Wednesday, March 14th. T. Rowe Price’s dividend payout ratio is presently 51.57%.
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T. Rowe Price 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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