State of Alaska Department of Revenue increased its stake in T. Rowe Price Group Inc (NASDAQ:TROW) by 4.7% in the fourth quarter, HoldingsChannel reports. The firm owned 75,482 shares of the asset manager’s stock after purchasing an additional 3,382 shares during the period. State of Alaska Department of Revenue’s holdings in T. Rowe Price Group were worth $6,965,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Highwater Wealth Management LLC acquired a new stake in T. Rowe Price Group in the 4th quarter worth approximately $64,000. IMS Capital Management acquired a new stake in T. Rowe Price Group in the 3rd quarter worth approximately $134,000. Townsend & Associates Inc acquired a new stake in T. Rowe Price Group in the 3rd quarter worth approximately $135,000. Focused Wealth Management Inc acquired a new stake in T. Rowe Price Group in the 2nd quarter worth approximately $139,000. Finally, Ancora Advisors LLC acquired a new stake in T. Rowe Price Group in the 3rd quarter worth approximately $171,000. Institutional investors own 71.32% of the company’s stock.
TROW opened at $90.25 on Friday. T. Rowe Price Group Inc has a 12-month low of $84.59 and a 12-month high of $127.43. The company has a market cap of $22.30 billion, a price-to-earnings ratio of 16.62, a price-to-earnings-growth ratio of 1.17 and a beta of 1.12.
T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Thursday, October 25th. The asset manager reported $2.30 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.37. The firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.38 billion. T. Rowe Price Group had a net margin of 33.98% and a return on equity of 29.52%. During the same period in the previous year, the firm earned $1.56 EPS. As a group, equities analysts predict that T. Rowe Price Group Inc will post 7.38 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 28th. Stockholders of record on Friday, December 14th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend was Thursday, December 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is 51.57%.
A number of equities analysts have issued reports on the stock. Deutsche Bank reduced their price target on shares of T. Rowe Price Group from $109.00 to $103.00 and set a “hold” rating for the company in a research report on Friday, November 16th. Morgan Stanley raised their price target on shares of T. Rowe Price Group from $116.00 to $118.00 and gave the stock a “hold” rating in a research report on Tuesday, October 9th. Bank of America reissued a “buy” rating and set a $108.00 price target (down from $125.00) on shares of T. Rowe Price Group in a research report on Thursday, December 6th. Zacks Investment Research lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating and set a $106.00 price target for the company. in a research report on Saturday, November 17th. Finally, Citigroup reduced their price target on shares of T. Rowe Price Group from $105.00 to $101.00 and set a “neutral” rating for the company in a research report on Wednesday, December 19th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. T. Rowe Price Group has a consensus rating of “Hold” and a consensus target price of $105.40.
In other news, VP Christopher D. Alderson sold 5,681 shares of T. Rowe Price Group stock in a transaction that occurred on Monday, December 10th. The shares were sold at an average price of $92.22, for a total transaction of $523,901.82. Following the completion of the transaction, the vice president now directly owns 118,818 shares of the company’s stock, valued at approximately $10,957,395.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.10% of the stock is owned by insiders.
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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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