Allen Capital Group LLC Buys Shares of 1,893 T. Rowe Price Group Inc (NASDAQ:TROW)

Allen Capital Group LLC bought a new stake in T. Rowe Price Group Inc (NASDAQ:TROW) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 1,893 shares of the asset manager’s stock, valued at approximately $231,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its position in T. Rowe Price Group by 32.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 228,023 shares of the asset manager’s stock valued at $25,960,000 after acquiring an additional 55,447 shares in the last quarter. Pictet Asset Management Ltd. grew its position in T. Rowe Price Group by 5.2% in the 3rd quarter. Pictet Asset Management Ltd. now owns 128,488 shares of the asset manager’s stock valued at $14,680,000 after acquiring an additional 6,300 shares in the last quarter. Man Group plc grew its position in T. Rowe Price Group by 88.2% in the 3rd quarter. Man Group plc now owns 54,422 shares of the asset manager’s stock valued at $6,218,000 after acquiring an additional 25,505 shares in the last quarter. Parametric Portfolio Associates LLC grew its position in T. Rowe Price Group by 9.8% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 792,446 shares of the asset manager’s stock valued at $90,537,000 after acquiring an additional 70,851 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its position in T. Rowe Price Group by 10.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 10,390 shares of the asset manager’s stock valued at $1,187,000 after acquiring an additional 981 shares in the last quarter. 70.45% of the stock is owned by institutional investors.

Several equities analysts have weighed in on TROW shares. Morgan Stanley lifted their target price on T. Rowe Price Group from $122.00 to $131.00 and gave the company an “equal weight” rating in a research report on Thursday, December 12th. Wells Fargo & Co raised T. Rowe Price Group from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $114.00 to $145.00 in a research report on Thursday, January 2nd. Deutsche Bank lifted their price objective 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. Citigroup lifted their price objective on T. Rowe Price Group from $112.00 to $130.00 and gave the company a “neutral” rating in a research note on Monday, January 13th. Finally, BidaskClub upgraded T. Rowe Price Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $118.83.

In related news, VP Christopher D. Alderson sold 3,502 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $122.54, for a total transaction of $429,135.08. Following the completion of the sale, the vice president now owns 400,505 shares in the company, valued at $49,077,882.70. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jessica M. Hiebler sold 800 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $123.38, for a total value of $98,704.00. Following the sale, the insider now owns 11,254 shares of the company’s stock, valued at approximately $1,388,518.52. The disclosure for this sale can be found here. Insiders sold a total of 16,702 shares of company stock valued at $2,061,719 in the last quarter. Company insiders own 3.10% of the company’s stock.

Shares of TROW traded up $0.27 during midday trading on Wednesday, hitting $132.57. The company had a trading volume of 1,169,058 shares, compared to its average volume of 742,533. The company’s 50-day simple moving average is $125.14 and its 200-day simple moving average is $116.29. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.60 and a current ratio of 3.60. The firm has a market capitalization of $30.91 billion, a P/E ratio of 16.82, a P/E/G ratio of 1.63 and a beta of 1.05. T. Rowe Price Group Inc has a 1 year low of $86.61 and a 1 year high of $132.92.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Thursday, October 24th. The asset manager reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.15. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.99 EPS. Equities analysts predict that T. Rowe Price Group Inc will post 8 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 16th were paid a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 2.29%. The ex-dividend date was Friday, December 13th. T. Rowe Price Group’s payout ratio is presently 42.52%.

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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Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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