Amalgamated Bank lifted its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 47.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 26,693 shares of the asset manager’s stock after buying an additional 8,616 shares during the quarter. Amalgamated Bank’s holdings in T. Rowe Price Group were worth $1,981,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of TROW. BlackRock Inc. raised its holdings in shares of T. Rowe Price Group by 1,722.6% in the 1st quarter. BlackRock Inc. now owns 16,378,787 shares of the asset manager’s stock valued at $1,116,214,000 after buying an additional 15,480,155 shares during the period. Massachusetts Financial Services Co. MA purchased a new stake in T. Rowe Price Group during the 1st quarter worth about $118,342,000. American Century Companies Inc. increased its holdings in T. Rowe Price Group by 66.4% during the 2nd quarter. American Century Companies Inc. now owns 2,544,655 shares of the asset manager’s stock worth $188,839,000 after purchasing an additional 1,015,518 shares during the period. Scout Investments Inc. increased its holdings in T. Rowe Price Group by 448.8% during the 1st quarter. Scout Investments Inc. now owns 1,212,919 shares of the asset manager’s stock worth $89,101,000 after purchasing an additional 991,890 shares during the period. Finally, Pioneer Investment Management Inc. increased its holdings in T. Rowe Price Group by 308.7% during the 2nd quarter. Pioneer Investment Management Inc. now owns 972,522 shares of the asset manager’s stock worth $72,171,000 after purchasing an additional 734,591 shares during the period. Hedge funds and other institutional investors own 73.62% of the company’s stock.
In related news, insider Jessica M. Hiebler sold 1,000 shares of the business’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $84.29, for a total value of $84,290.00. Following the completion of the sale, the insider now directly owns 8,461 shares of the company’s stock, valued at $713,177.69. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Anne M. Whittemore sold 8,326 shares of the business’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $82.03, for a total value of $682,981.78. Following the completion of the sale, the director now directly owns 28,982 shares of the company’s stock, valued at $2,377,393.46. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,720 shares of company stock valued at $1,630,701. 3.60% of the stock is owned by corporate insiders.
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Several equities research analysts have weighed in on the company. UBS AG restated a “sell” rating and set a $61.00 price target (down previously from $77.00) on shares of T. Rowe Price Group in a report on Wednesday, May 24th. Zacks Investment Research downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Wednesday, September 13th. BidaskClub downgraded T. Rowe Price Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 1st. Wells Fargo & Company restated a “market perform” rating on shares of T. Rowe Price Group in a report on Thursday, July 27th. Finally, ValuEngine upgraded T. Rowe Price Group from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. T. Rowe Price Group currently has a consensus rating of “Hold” and an average price target of $81.30.
Shares of T. Rowe Price Group, Inc. (TROW) opened at 85.35 on Tuesday. The company has a 50 day moving average price of $83.39 and a 200-day moving average price of $75.33. T. Rowe Price Group, Inc. has a 12 month low of $62.97 and a 12 month high of $85.46. The firm has a market capitalization of $20.51 billion, a PE ratio of 14.65 and a beta of 1.24.
T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Tuesday, July 25th. The asset manager reported $1.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.01. T. Rowe Price Group had a return on equity of 24.38% and a net margin of 32.64%. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the company earned $0.76 earnings per share. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. Equities research analysts expect that T. Rowe Price Group, Inc. will post $5.65 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Thursday, September 14th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.67%. The ex-dividend date is Wednesday, September 13th. T. Rowe Price Group’s dividend payout ratio is currently 39.18%.
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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