Pictet Asset Management Ltd. boosted its stake in T. Rowe Price Group Inc (NASDAQ:TROW) by 5.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 128,488 shares of the asset manager’s stock after purchasing an additional 6,300 shares during the period. Pictet Asset Management Ltd.’s holdings in T. Rowe Price Group were worth $14,680,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. North Star Investment Management Corp. acquired a new stake in T. Rowe Price Group in the 3rd quarter valued at approximately $27,000. Mechanics Bank Trust Department purchased a new position in T. Rowe Price Group in the 3rd quarter valued at approximately $31,000. Heritage Wealth Advisors boosted its position in T. Rowe Price Group by 201.5% in the 2nd quarter. Heritage Wealth Advisors now owns 410 shares of the asset manager’s stock valued at $45,000 after buying an additional 274 shares during the period. Usca Ria LLC purchased a new position in T. Rowe Price Group in the 3rd quarter valued at approximately $45,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. purchased a new position in T. Rowe Price Group in the 2nd quarter valued at approximately $52,000. Hedge funds and other institutional investors own 70.50% of the company’s stock.
TROW has been the subject of several recent research reports. 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 research report on Friday, October 11th. BidaskClub raised shares of T. Rowe Price Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Credit Suisse Group set a $135.00 price target on shares of T. Rowe Price Group and gave the company a “buy” rating in a research report on Friday, September 13th. BMO Capital Markets initiated coverage on shares of T. Rowe Price Group in a research report on Monday, October 7th. They issued a “market perform” rating and a $101.00 price target for the company. Finally, ValuEngine cut shares of T. Rowe Price Group from a “hold” rating to a “sell” rating in a research report on Monday, September 16th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. 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 T. Rowe Price Group stock in a transaction on Friday, September 13th. The shares were sold at an average price of $118.50, for a total transaction of $2,259,084.00. Following the completion of the sale, the vice president now directly owns 467,715 shares of the company’s stock, valued at approximately $55,424,227.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 3.10% of the stock is currently owned by insiders.
T. Rowe Price Group stock opened at $123.56 on Monday. The stock has a market cap of $28.91 billion, a P/E ratio of 17.28, a price-to-earnings-growth ratio of 1.83 and a beta of 1.04. The company has a fifty day simple moving average of $116.87 and a 200-day simple moving average of $111.07. T. Rowe Price Group Inc has a 12-month low of $84.59 and a 12-month high of $124.00. The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 0.02.
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 Thomson Reuters’ 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 net margin of 35.28% and a return on equity of 28.84%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.99 EPS. As a group, sell-side analysts forecast that T. Rowe Price Group Inc will post 7.84 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be given a dividend of $0.76 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.04 annualized dividend and a dividend yield of 2.46%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 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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