Rhumbline Advisers raised its holdings in T. Rowe Price Group Inc (NASDAQ:TROW) by 2.1% in the 4th quarter, HoldingsChannel reports. The firm owned 480,858 shares of the asset manager’s stock after acquiring an additional 10,089 shares during the period. Rhumbline Advisers’ holdings in T. Rowe Price Group were worth $50,456,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. Alpha Cubed Investments LLC purchased a new position in shares of T. Rowe Price Group in the third quarter worth about $256,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of T. Rowe Price Group by 59.3% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 200,580 shares of the asset manager’s stock worth $18,183,000 after purchasing an additional 74,687 shares in the last quarter. Prudential Financial Inc. grew its stake in T. Rowe Price Group by 94.1% during the third quarter. Prudential Financial Inc. now owns 709,261 shares of the asset manager’s stock valued at $64,295,000 after acquiring an additional 343,926 shares in the last quarter. California Public Employees Retirement System grew its stake in T. Rowe Price Group by 4.0% during the third quarter. California Public Employees Retirement System now owns 630,687 shares of the asset manager’s stock valued at $57,172,000 after acquiring an additional 24,012 shares in the last quarter. Finally, Reliance Trust Co. of Delaware purchased a new position in T. Rowe Price Group during the third quarter valued at approximately $304,000. Hedge funds and other institutional investors own 71.89% of the company’s stock.
In other T. Rowe Price Group news, CFO Kenneth V. Moreland sold 14,419 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $97.07, for a total transaction of $1,399,652.33. Following the completion of the sale, the chief financial officer now directly owns 125,264 shares in the company, valued at $12,159,376.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William J. Stromberg sold 30,000 shares of T. Rowe Price Group stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $97.09, for a total transaction of $2,912,700.00. Following the sale, the chief executive officer now owns 534,077 shares of the company’s stock, valued at $51,853,535.93. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 204,980 shares of company stock valued at $20,776,729. 3.60% of the stock is currently owned by company insiders.
Shares of T. Rowe Price Group Inc (NASDAQ TROW) opened at $110.49 on Monday. T. Rowe Price Group Inc has a 1 year low of $66.70 and a 1 year high of $120.07. The stock has a market cap of $26,772.83, a P/E ratio of 18.51, a price-to-earnings-growth ratio of 1.25 and a beta of 1.28.
T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Tuesday, January 30th. The asset manager reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.04. T. Rowe Price Group had a net margin of 31.07% and a return on equity of 25.30%. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same period in the previous year, the business posted $1.21 earnings per share. T. Rowe Price Group’s revenue for the quarter was up 17.9% on a year-over-year basis. equities analysts expect that T. Rowe Price Group Inc will post 7.11 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be given a dividend of $0.70 per share. The ex-dividend date is Wednesday, March 14th. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $0.57. This represents a $2.80 annualized dividend and a yield of 2.53%. T. Rowe Price Group’s payout ratio is presently 38.19%.
T. Rowe Price Group Company Profile
T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.
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