T. Rowe Price Group Inc (TROW) Shares Sold by Cullinan Associates Inc.

Cullinan Associates Inc. reduced its position in shares of T. Rowe Price Group Inc (NASDAQ:TROW) by 2.3% in the 4th quarter, HoldingsChannel reports. The firm owned 60,145 shares of the asset manager’s stock after selling 1,420 shares during the period. Cullinan Associates Inc.’s holdings in T. Rowe Price Group were worth $5,553,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in TROW. Vanguard Group Inc. raised its position in T. Rowe Price Group by 2.2% during the third quarter. Vanguard Group Inc. now owns 21,212,245 shares of the asset manager’s stock valued at $2,315,952,000 after purchasing an additional 457,683 shares in the last quarter. Vanguard Group Inc raised its position in T. Rowe Price Group by 2.2% during the third quarter. Vanguard Group Inc now owns 21,212,245 shares of the asset manager’s stock valued at $2,315,952,000 after purchasing an additional 457,683 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of T. Rowe Price Group by 25.0% during the third quarter. Janus Henderson Group PLC now owns 2,247,254 shares of the asset manager’s stock worth $245,355,000 after buying an additional 449,322 shares during the last quarter. Bank of America Corp DE grew its stake in shares of T. Rowe Price Group by 10.2% during the second quarter. Bank of America Corp DE now owns 2,545,305 shares of the asset manager’s stock worth $295,485,000 after buying an additional 236,487 shares during the last quarter. Finally, MERIAN GLOBAL INVESTORS UK Ltd grew its stake in shares of T. Rowe Price Group by 9.6% during the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 2,297,776 shares of the asset manager’s stock worth $250,871,000 after buying an additional 201,553 shares during the last quarter. Institutional investors and hedge funds own 71.32% of the company’s stock.

Shares of T. Rowe Price Group stock traded down $2.09 during trading on Friday, hitting $90.20. The company’s stock had a trading volume of 65,286 shares, compared to its average volume of 1,565,345. T. Rowe Price Group Inc has a 52 week low of $84.59 and a 52 week high of $127.43. The stock has a market cap of $22.30 billion, a price-to-earnings ratio of 16.69, a P/E/G ratio of 1.17 and a beta of 1.12.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Thursday, October 25th. The asset manager reported $2.30 earnings per share for the quarter, topping the consensus estimate of $1.93 by $0.37. T. Rowe Price Group had a net margin of 33.98% and a return on equity of 29.52%. The company had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter in the previous year, the firm posted $1.56 earnings per share. As a group, equities research analysts anticipate that T. Rowe Price Group Inc will post 7.38 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 28th. Investors of record on Friday, December 14th were paid a $0.70 dividend. The ex-dividend date of this dividend was Thursday, December 13th. This represents a $2.80 annualized dividend and a dividend yield of 3.10%. T. Rowe Price Group’s dividend payout ratio is 51.57%.

In related news, VP Christopher D. Alderson sold 5,681 shares of the business’s stock in a transaction on Monday, December 10th. The shares were sold at an average price of $92.22, for a total value of $523,901.82. Following the sale, the vice president now owns 118,818 shares of the company’s stock, valued at $10,957,395.96. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 3.10% of the company’s stock.

A number of analysts have weighed in on the stock. Deutsche Bank decreased their target price on shares of T. Rowe Price Group from $109.00 to $103.00 and set a “hold” rating on the stock in a research note on Friday, November 16th. Morgan Stanley boosted their target price on shares of T. Rowe Price Group from $116.00 to $118.00 and gave the stock a “hold” rating in a research note on Tuesday, October 9th. Bank of America reaffirmed a “buy” rating and set a $108.00 target price (down previously from $125.00) on shares of T. Rowe Price Group in a research note on Thursday, December 6th. Zacks Investment Research cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating and set a $106.00 target price on the stock. in a research note on Saturday, November 17th. Finally, Citigroup decreased their target price on shares of T. Rowe Price Group from $105.00 to $101.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 19th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $105.40.

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About T. Rowe Price Group

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

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