Squarepoint Ops LLC trimmed its position in T. Rowe Price Group Inc (NASDAQ:TROW) by 2.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,594 shares of the asset manager’s stock after selling 406 shares during the quarter. Squarepoint Ops LLC’s holdings in T. Rowe Price Group were worth $1,667,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently modified their holdings of the company. FineMark National Bank & Trust acquired a new position in shares of T. Rowe Price Group during the 2nd quarter worth about $223,000. Close Asset Management Ltd lifted its stake in shares of T. Rowe Price Group by 29.4% in the second quarter. Close Asset Management Ltd now owns 17,800 shares of the asset manager’s stock valued at $1,953,000 after buying an additional 4,045 shares during the period. Coastal Investment Advisors Inc. lifted its stake in shares of T. Rowe Price Group by 32.2% in the second quarter. Coastal Investment Advisors Inc. now owns 1,030 shares of the asset manager’s stock valued at $112,000 after buying an additional 251 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of T. Rowe Price Group by 32.1% in the third quarter. Russell Investments Group Ltd. now owns 228,023 shares of the asset manager’s stock valued at $25,960,000 after buying an additional 55,447 shares during the period. Finally, McKinley Carter Wealth Services Inc. grew its position in T. Rowe Price Group by 1.9% during the second quarter. McKinley Carter Wealth Services Inc. now owns 6,318 shares of the asset manager’s stock worth $693,000 after buying an additional 118 shares in the last quarter. Institutional investors and hedge funds own 70.51% of the company’s stock.
Several brokerages recently issued reports on TROW. Deutsche Bank boosted their price target on T. Rowe Price Group from $130.00 to $132.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. BMO Capital Markets began coverage on shares of T. Rowe Price Group in a research note on Monday, October 7th. They set a “market perform” rating and a $101.00 price target on the stock. Wells Fargo & Co set a $112.00 price target on shares of T. Rowe Price Group and gave the company a “hold” rating in a report on Friday, October 11th. ValuEngine cut shares of T. Rowe Price Group from a “hold” rating to a “sell” rating in a research note on Monday, September 16th. Finally, Credit Suisse Group set a $135.00 price objective on shares of T. Rowe Price Group and gave the company a “buy” rating in a research note on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. T. Rowe Price Group presently has an average rating of “Hold” and a consensus target price of $112.08.
In other news, VP W. Sharps Robert sold 19,064 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $118.50, for a total value of $2,259,084.00. Following the sale, the vice president now owns 467,715 shares of the company’s stock, valued at approximately $55,424,227.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.10% of the stock is currently owned by corporate insiders.
Shares of TROW stock opened at $124.50 on Tuesday. The stock’s fifty day simple moving average is $119.40 and its 200 day simple moving average is $112.01. T. Rowe Price Group Inc has a one year low of $84.59 and a one year high of $124.98. The firm has a market cap of $29.09 billion, a price-to-earnings ratio of 17.41, a P/E/G ratio of 1.83 and a beta of 1.06. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.60 and a quick ratio of 3.60.
T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Thursday, October 24th. The asset manager reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.15. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.43 billion. T. Rowe Price Group had a return on equity of 28.84% and a net margin of 35.28%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.99 earnings per share. On average, research analysts anticipate that T. Rowe Price Group Inc will post 7.84 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be paid a $0.76 dividend. The ex-dividend date is Friday, December 13th. This represents a $3.04 annualized dividend and a dividend yield of 2.44%. T. Rowe Price Group’s dividend payout ratio is presently 42.52%.
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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