IFM Investors Pty Ltd boosted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 13.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,115 shares of the asset manager’s stock after buying an additional 3,026 shares during the period. IFM Investors Pty Ltd’s holdings in T. Rowe Price Group were worth $4,310,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of TROW. CVA Family Office LLC purchased a new position in shares of T. Rowe Price Group in the first quarter worth approximately $27,000. Montag A & Associates Inc. purchased a new position in T. Rowe Price Group during the 4th quarter worth approximately $25,000. Ellevest Inc. raised its stake in T. Rowe Price Group by 435.0% during the 4th quarter. Ellevest Inc. now owns 214 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 174 shares during the period. Bogart Wealth LLC lifted its holdings in shares of T. Rowe Price Group by 260.0% in the first quarter. Bogart Wealth LLC now owns 216 shares of the asset manager’s stock valued at $37,000 after purchasing an additional 156 shares in the last quarter. Finally, Peconic Partners LLC purchased a new stake in shares of T. Rowe Price Group in the fourth quarter valued at $35,000. 69.48% of the stock is owned by institutional investors.
In other news, CEO William J. Stromberg sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, March 11th. The stock was sold at an average price of $173.78, for a total transaction of $1,564,020.00. Also, President W. Sharps Robert sold 6,000 shares of the company’s stock in a transaction on Monday, March 29th. The shares were sold at an average price of $176.75, for a total value of $1,060,500.00. Following the completion of the transaction, the president now owns 472,138 shares of the company’s stock, valued at $83,450,391.50. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.
T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Thursday, April 29th. The asset manager reported $3.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.92 by $0.09. The company had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.79 billion. T. Rowe Price Group had a return on equity of 30.52% and a net margin of 35.92%. The company’s revenue for the quarter was up 24.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.87 EPS. On average, analysts predict that T. Rowe Price Group, Inc. will post 9.23 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 29th. Shareholders of record on Tuesday, June 15th will be issued a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Monday, June 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 53.53%.
A number of brokerages have commented on TROW. Morgan Stanley raised their price objective on T. Rowe Price Group from $181.00 to $186.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 6th. Zacks Investment Research cut T. Rowe Price Group from a “buy” rating to a “hold” rating and set a $191.00 price target for the company. in a research note on Saturday, May 1st. Barclays increased their price objective on T. Rowe Price Group from $145.00 to $150.00 and gave the stock an “underweight” rating in a report on Monday, January 25th. Wells Fargo & Company lifted their target price on shares of T. Rowe Price Group from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Tuesday, April 20th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell restated a “sell” rating and set a $157.00 price target on shares of T. Rowe Price Group in a research note on Tuesday, April 20th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $166.36.
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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