Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of T. Rowe Price Group Inc (NASDAQ:TROW) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 4,760 shares of the asset manager’s stock, valued at approximately $439,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Reilly Financial Advisors LLC raised its position in shares of T. Rowe Price Group by 66.3% during the 4th quarter. Reilly Financial Advisors LLC now owns 296 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 118 shares during the last quarter. Ruggie Capital Group bought a new stake in shares of T. Rowe Price Group during the 4th quarter valued at $28,000. Financial Gravity Companies Inc. bought a new stake in shares of T. Rowe Price Group during the 4th quarter valued at $30,000. Pearl River Capital LLC bought a new stake in shares of T. Rowe Price Group during the 4th quarter valued at $31,000. Finally, Rational Advisors LLC raised its position in shares of T. Rowe Price Group by 306.7% during the 4th quarter. Rational Advisors LLC now owns 366 shares of the asset manager’s stock valued at $34,000 after acquiring an additional 276 shares during the last quarter. 72.91% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have recently issued reports on TROW. BidaskClub raised shares of T. Rowe Price Group from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 16th. Evercore ISI raised shares of T. Rowe Price Group from an “in-line” rating to an “outperform” rating and set a $99.00 price target for the company in a report on Thursday, January 31st. Bank of America reissued a “buy” rating and issued a $107.00 price target (up previously from $102.00) on shares of T. Rowe Price Group in a report on Friday, March 8th. Morgan Stanley decreased their price target on shares of T. Rowe Price Group from $105.00 to $98.00 and set an “equal weight” rating for the company in a report on Friday, January 4th. Finally, Wells Fargo & Co boosted their price target on shares of T. Rowe Price Group from $92.00 to $102.00 and gave the company a “market perform” rating in a report on Wednesday, February 27th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $106.17.
T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Wednesday, January 30th. The asset manager reported $1.41 EPS for the quarter, missing the consensus estimate of $1.66 by ($0.25). The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.33 billion. T. Rowe Price Group had a return on equity of 29.16% and a net margin of 33.95%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period last year, the firm earned $1.52 earnings per share. As a group, research analysts expect that T. Rowe Price Group Inc will post 6.9 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 2.87%. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $0.70. The ex-dividend date was Thursday, March 14th. T. Rowe Price Group’s dividend payout ratio is presently 42.52%.
In other T. Rowe Price Group news, insider Edward C. Bernard sold 10,000 shares of the stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $97.15, for a total value of $971,500.00. Following the transaction, the insider now directly owns 651,532 shares of the company’s stock, valued at approximately $63,296,333.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP W. Sharps Robert sold 2,617 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $100.73, for a total transaction of $263,610.41. Following the completion of the transaction, the vice president now directly owns 448,651 shares in the company, valued at $45,192,615.23. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 117,082 shares of company stock worth $11,361,948. 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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