Good Life Advisors LLC lessened its holdings in T. Rowe Price Group Inc (NASDAQ:TROW) by 3.3% in the first quarter, HoldingsChannel.com reports. The fund owned 4,893 shares of the asset manager’s stock after selling 166 shares during the period. Good Life Advisors LLC’s holdings in T. Rowe Price Group were worth $495,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in TROW. Reilly Financial Advisors LLC lifted its position in 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 worth $27,000 after purchasing an additional 118 shares during the period. Ruggie Capital Group bought a new stake in T. Rowe Price Group during the fourth quarter worth about $28,000. LFA Lugano Financial Advisors SA bought a new stake in T. Rowe Price Group during the first quarter worth about $29,000. Financial Gravity Companies Inc. bought a new stake in T. Rowe Price Group during the fourth quarter worth about $30,000. Finally, Trustcore Financial Services LLC lifted its position in T. Rowe Price Group by 353.8% during the first quarter. Trustcore Financial Services LLC now owns 295 shares of the asset manager’s stock worth $30,000 after purchasing an additional 230 shares during the period. 70.26% of the stock is owned by institutional investors.
Shares of NASDAQ TROW opened at $102.79 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.74 and a quick ratio of 3.74. The stock has a market cap of $24.99 billion, a price-to-earnings ratio of 14.38, a price-to-earnings-growth ratio of 1.56 and a beta of 1.06. T. Rowe Price Group Inc has a 12 month low of $84.59 and a 12 month high of $127.43.
T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Wednesday, April 24th. The asset manager reported $1.87 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.61 by $0.26. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.29 billion. T. Rowe Price Group had a return on equity of 28.93% and a net margin of 35.05%. The business’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.74 earnings per share. On average, sell-side analysts predict that T. Rowe Price Group Inc will post 7.52 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend is Thursday, June 13th. T. Rowe Price Group’s payout ratio is 42.52%.
Several equities research analysts recently weighed in on TROW shares. Barclays upped their price objective on shares of T. Rowe Price Group from $90.00 to $95.00 and gave the stock an “underweight” rating in a research report on Thursday, April 25th. Morgan Stanley set a $101.00 price objective on shares of T. Rowe Price Group and gave the stock a “hold” rating in a research report on Friday, February 8th. Evercore ISI raised shares of T. Rowe Price Group from an “in-line” rating to an “outperform” rating and set a $99.00 price objective for the company in a research report on Thursday, January 31st. Wells Fargo & Co upped their price objective on shares of T. Rowe Price Group from $92.00 to $102.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 27th. Finally, Bank of America reaffirmed a “buy” rating and set a $107.00 price objective (up previously from $102.00) on shares of T. Rowe Price Group in a research report on Friday, March 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $106.75.
In other T. Rowe Price Group news, VP Scott B. David sold 45,118 shares of the business’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $107.88, for a total transaction of $4,867,329.84. Following the completion of the transaction, the vice president now owns 48,454 shares of the company’s stock, valued at $5,227,217.52. The sale 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 business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $100.73, for a total value of $263,610.41. Following the transaction, the vice president now directly owns 448,651 shares of the company’s stock, valued at approximately $45,192,615.23. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,735 shares of company stock valued at $7,289,340. Insiders own 3.10% of the company’s stock.
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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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