Czech National Bank boosted its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW – Free Report) by 0.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,404 shares of the asset manager’s stock after acquiring an additional 247 shares during the period. Czech National Bank’s holdings in T. Rowe Price Group were worth $2,981,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. City Holding Co. grew its stake in shares of T. Rowe Price Group by 27.3% in the 1st quarter. City Holding Co. now owns 5,126 shares of the asset manager’s stock worth $579,000 after buying an additional 1,100 shares during the last quarter. Valeo Financial Advisors LLC grew its stake in shares of T. Rowe Price Group by 26.4% in the first quarter. Valeo Financial Advisors LLC now owns 3,329 shares of the asset manager’s stock worth $376,000 after acquiring an additional 695 shares during the last quarter. Absher Wealth Management LLC increased its holdings in shares of T. Rowe Price Group by 25.3% during the first quarter. Absher Wealth Management LLC now owns 254,926 shares of the asset manager’s stock valued at $28,781,000 after acquiring an additional 51,505 shares in the last quarter. Claro Advisors LLC raised its position in shares of T. Rowe Price Group by 9.5% in the 1st quarter. Claro Advisors LLC now owns 4,855 shares of the asset manager’s stock worth $548,000 after purchasing an additional 421 shares during the last quarter. Finally, LVM Capital Management Ltd. MI purchased a new position in shares of T. Rowe Price Group in the 1st quarter worth about $790,000. Institutional investors own 76.70% of the company’s stock.
Insider Activity
In related news, insider Jessica M. Hiebler sold 1,881 shares of T. Rowe Price Group stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $106.66, for a total value of $200,627.46. Following the sale, the insider now owns 11,628 shares of the company’s stock, valued at approximately $1,240,242.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.10% of the company’s stock.
T. Rowe Price Group Price Performance
T. Rowe Price Group (NASDAQ:TROW – Free Report) last released its quarterly earnings data on Tuesday, May 2nd. The asset manager reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.07. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.54 billion. T. Rowe Price Group had a net margin of 22.90% and a return on equity of 17.92%. The business’s quarterly revenue was down 17.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.62 earnings per share. Equities analysts anticipate that T. Rowe Price Group, Inc. will post 6.64 EPS for the current fiscal year.
T. Rowe Price Group Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 29th. Stockholders of record on Thursday, June 15th will be paid a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a dividend yield of 4.42%. The ex-dividend date of this dividend is Wednesday, June 14th. T. Rowe Price Group’s payout ratio is currently 79.87%.
Analyst Ratings Changes
A number of analysts have weighed in on the stock. Evercore ISI reduced their price objective on shares of T. Rowe Price Group from $101.00 to $98.00 and set an “in-line” rating for the company in a research note on Thursday, April 13th. Bank of America lowered their target price on shares of T. Rowe Price Group from $78.00 to $72.00 and set an “underperform” rating on the stock in a report on Wednesday, April 5th. Wells Fargo & Company boosted their target price on T. Rowe Price Group from $112.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Friday, April 14th. StockNews.com began coverage on T. Rowe Price Group in a research note on Thursday, May 18th. They set a “hold” rating for the company. Finally, VNET Group reaffirmed a “maintains” rating on shares of T. Rowe Price Group in a report on Wednesday, May 3rd. Six research analysts have rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat, T. Rowe Price Group presently has an average rating of “Hold” and a consensus target price of $93.73.
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.
Featured Articles
- Five stocks we like better than T. Rowe Price Group
- AMD’s Recent Correction: A Buying Opportunity For Investors?
- AeroVironment’s New Momentum Makes it a Value Play
- Unifirst: Undervalued At Rock-Bottom Prices
- Jefferies Misses on Earnings: Does it Signal a Speed Bump or U-Turn?
- General Mills Retreats To The Buy Zone
Receive News & Ratings for T. Rowe Price Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for T. Rowe Price Group and related companies with MarketBeat.com's FREE daily email newsletter.
