HL Financial Services LLC reduced its position in shares of T. Rowe Price Group Inc (NASDAQ:TROW) by 4.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 49,166 shares of the asset manager’s stock after selling 2,029 shares during the quarter. HL Financial Services LLC’s holdings in T. Rowe Price Group were worth $5,368,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently bought and sold shares of the company. Townsend & Associates Inc acquired a new stake in shares of T. Rowe Price Group during the 3rd quarter valued at approximately $135,000. Focused Wealth Management Inc acquired a new stake in T. Rowe Price Group in the second quarter worth $139,000. Signature Estate & Investment Advisors LLC acquired a new stake in T. Rowe Price Group in the second quarter worth $151,000. Parallel Advisors LLC grew its stake in shares of T. Rowe Price Group by 169.1% in the second quarter. Parallel Advisors LLC now owns 1,448 shares of the asset manager’s stock worth $168,000 after purchasing an additional 910 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. bought a new position in shares of T. Rowe Price Group in the second quarter worth $190,000. 70.99% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have recently issued reports on TROW shares. Deutsche Bank increased their price target on T. Rowe Price Group from $118.00 to $119.00 and gave the stock a “hold” rating in a research note on Thursday, September 27th. BidaskClub cut T. Rowe Price Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 18th. Wells Fargo & Co decreased their price target on T. Rowe Price Group from $115.00 to $106.00 and set a “market perform” rating for the company in a research note on Friday, October 26th. UBS Group decreased their price target on T. Rowe Price Group from $127.00 to $121.00 and set a “neutral” rating for the company in a research note on Monday, October 8th. Finally, Zacks Investment Research cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Friday, August 10th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $114.11.
Shares of TROW stock opened at $99.13 on Wednesday. T. Rowe Price Group Inc has a fifty-two week low of $90.95 and a fifty-two week high of $127.43. The stock has a market cap of $23.33 billion, a P/E ratio of 18.26, a PEG ratio of 1.11 and a beta of 1.21.
T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Thursday, October 25th. The asset manager reported $2.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.93 by $0.37. T. Rowe Price Group had a return on equity of 29.52% and a net margin of 33.98%. The business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter last year, the business posted $1.56 earnings per share. On average, equities analysts forecast that T. Rowe Price Group Inc will post 7.37 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be paid a dividend of $0.70 per share. The ex-dividend date is Thursday, December 13th. This represents a $2.80 annualized dividend and a yield of 2.82%. T. Rowe Price Group’s dividend payout ratio is currently 51.57%.
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T. Rowe Price Group 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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