Kentucky Retirement Systems decreased its stake in T. Rowe Price Group Inc (NASDAQ:TROW) by 51.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,468 shares of the asset manager’s stock after selling 11,073 shares during the period. Kentucky Retirement Systems’ holdings in T. Rowe Price Group were worth $966,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in TROW. Reilly Financial Advisors LLC grew its holdings in shares of T. Rowe Price Group by 66.3% during the fourth quarter. Reilly Financial Advisors LLC now owns 296 shares of the asset manager’s stock valued at $27,000 after buying an additional 118 shares in the last quarter. Ruggie Capital Group purchased a new position in shares of T. Rowe Price Group during the fourth quarter valued at $28,000. Financial Gravity Companies Inc. purchased a new position in shares of T. Rowe Price Group during the fourth quarter valued at $30,000. Pearl River Capital LLC purchased a new position in shares of T. Rowe Price Group during the fourth quarter valued at $31,000. Finally, Rational Advisors LLC grew its holdings in shares of T. Rowe Price Group by 306.7% during the fourth quarter. Rational Advisors LLC now owns 366 shares of the asset manager’s stock valued at $34,000 after buying an additional 276 shares in the last quarter. 72.91% of the stock is currently owned by institutional investors and hedge funds.
In related news, VP Christopher D. Alderson sold 104,465 shares of the business’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $96.94, for a total transaction of $10,126,837.10. Following the transaction, the vice president now directly owns 401,164 shares in the company, valued at $38,888,838.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP W. Sharps Robert sold 2,617 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $100.73, for a total value of $263,610.41. Following the transaction, the vice president now owns 448,651 shares in the company, valued at $45,192,615.23. The disclosure for this sale can be found here. Insiders sold 117,082 shares of company stock worth $11,361,948 over the last quarter. 3.10% of the stock is currently owned by corporate insiders.
T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Wednesday, January 30th. The asset manager reported $1.41 EPS for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.25). The business had revenue of $1.30 billion during 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 revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.52 earnings per share. As a group, equities analysts forecast that T. Rowe Price Group Inc will post 6.9 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.76 dividend. The ex-dividend date was Thursday, March 14th. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $0.70. This represents a $3.04 dividend on an annualized basis and a dividend yield of 2.87%. T. Rowe Price Group’s payout ratio is presently 42.52%.
A number of brokerages have recently weighed in on TROW. Citigroup lifted their price target on T. Rowe Price Group from $98.00 to $108.00 and gave the company a “neutral” rating in a report on Monday, April 15th. Bank of America set a $112.00 price target on T. Rowe Price Group and gave the company a “buy” rating in a report on Tuesday, April 9th. Zacks Investment Research raised T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $116.00 price objective for the company in a research report on Wednesday, April 3rd. Jefferies Financial Group lifted their price objective on T. Rowe Price Group from $103.00 to $119.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Finally, Deutsche Bank lifted their price objective on T. Rowe Price Group from $91.00 to $94.00 and gave the company a “hold” rating in a research report on Friday, March 15th. 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’s stock. The stock has an average rating of “Hold” and a consensus price target of $106.17.
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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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