Webster Bank N. A. lessened its stake in T. Rowe Price Group Inc (NASDAQ:TROW) by 29.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 479 shares of the asset manager’s stock after selling 200 shares during the quarter. Webster Bank N. A.’s holdings in T. Rowe Price Group were worth $44,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Highwater Wealth Management LLC bought a new position in shares of T. Rowe Price Group in the 4th quarter valued at about $64,000. IMS Capital Management bought a new position in shares of T. Rowe Price Group in the 3rd quarter valued at about $134,000. Townsend & Associates Inc bought a new position in shares of T. Rowe Price Group in the 3rd quarter valued at about $135,000. Focused Wealth Management Inc bought a new position in shares of T. Rowe Price Group in the 2nd quarter valued at about $139,000. Finally, Ancora Advisors LLC bought a new position in shares of T. Rowe Price Group in the 3rd quarter valued at about $171,000. Hedge funds and other institutional investors own 71.32% of the company’s stock.
T. Rowe Price Group stock opened at $92.29 on Friday. T. Rowe Price Group Inc has a fifty-two week low of $84.59 and a fifty-two week high of $127.43. The company has a market cap of $22.14 billion, a P/E ratio of 17.00, a PEG ratio of 1.16 and a beta of 1.12.
T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Thursday, October 25th. The asset manager reported $2.30 earnings per share for the quarter, topping the consensus estimate of $1.93 by $0.37. T. Rowe Price Group had a net margin of 33.98% and a return on equity of 29.52%. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter last year, the firm earned $1.56 EPS. On average, analysts forecast that T. Rowe Price Group Inc will post 7.38 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 28th. Investors of record on Friday, December 14th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend was Thursday, December 13th. T. Rowe Price Group’s payout ratio is 51.57%.
In other T. Rowe Price Group news, VP Christopher D. Alderson sold 5,681 shares of T. Rowe Price Group stock in a transaction that occurred on Monday, December 10th. The shares were sold at an average price of $92.22, for a total value of $523,901.82. Following the transaction, the vice president now owns 118,818 shares of the company’s stock, valued at $10,957,395.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 3.10% of the stock is owned by company insiders.
TROW has been the topic of several recent research reports. UBS Group reduced their target price on shares of T. Rowe Price Group from $127.00 to $121.00 and set a “neutral” rating on the stock in a research note on Monday, October 8th. Morgan Stanley raised their target price on shares of T. Rowe Price Group from $116.00 to $118.00 and gave the company a “hold” rating in a research note on Tuesday, October 9th. Citigroup reduced their target price on shares of T. Rowe Price Group from $113.00 to $105.00 and set a “hold” rating on the stock in a research note on Monday, October 29th. Deutsche Bank reduced their target price on shares of T. Rowe Price Group from $119.00 to $112.00 and set a “hold” rating on the stock in a research note on Thursday, October 11th. Finally, Credit Suisse Group reduced their price objective on shares of T. Rowe Price Group from $161.00 to $123.00 and set an “outperform” rating on the stock in a research note on Friday, October 26th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $105.40.
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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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