Van Cleef Asset Management Inc Has $354,000 Holdings in T. Rowe Price Group Inc (NASDAQ:TROW)

Van Cleef Asset Management Inc cut its stake in shares of T. Rowe Price Group Inc (NASDAQ:TROW) by 8.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,540 shares of the asset manager’s stock after selling 320 shares during the period. Van Cleef Asset Management Inc’s holdings in T. Rowe Price Group were worth $354,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd acquired a new stake in shares of T. Rowe Price Group in the 1st quarter worth approximately $377,000. AlphaCrest Capital Management LLC acquired a new stake in shares of T. Rowe Price Group in the 1st quarter worth approximately $866,000. Coldstream Capital Management Inc. acquired a new stake in shares of T. Rowe Price Group in the 1st quarter worth approximately $2,800,000. Rockefeller Capital Management L.P. grew its holdings in shares of T. Rowe Price Group by 7.3% in the 1st quarter. Rockefeller Capital Management L.P. now owns 2,539 shares of the asset manager’s stock worth $254,000 after acquiring an additional 173 shares during the period. Finally, MML Investors Services LLC grew its holdings in shares of T. Rowe Price Group by 17.4% in the 1st quarter. MML Investors Services LLC now owns 19,315 shares of the asset manager’s stock worth $1,934,000 after acquiring an additional 2,861 shares during the period. 69.32% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:TROW traded up $1.17 during mid-day trading on Friday, hitting $109.71. The company had a trading volume of 1,162,949 shares, compared to its average volume of 1,270,603. The business has a fifty day simple moving average of $104.96. The company has a quick ratio of 3.74, a current ratio of 3.74 and a debt-to-equity ratio of 0.03. T. Rowe Price Group Inc has a 1 year low of $84.59 and a 1 year high of $125.35. The company has a market capitalization of $25.28 billion, a price-to-earnings ratio of 15.34, a price-to-earnings-growth ratio of 1.57 and a beta of 1.06.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Wednesday, April 24th. The asset manager reported $1.87 EPS for the quarter, beating the consensus estimate of $1.61 by $0.26. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.29 billion. T. Rowe Price Group had a return on equity of 28.93% and a net margin of 35.05%. The firm’s revenue was down 2.1% compared to the same quarter last year. During the same period last year, the company posted $1.74 earnings per share. As a group, sell-side analysts forecast that T. Rowe Price Group Inc will post 7.54 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.76 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $3.04 annualized dividend and a dividend yield of 2.77%. T. Rowe Price Group’s dividend payout ratio is presently 42.52%.

In related news, Director Mary K. Bush sold 3,500 shares of T. Rowe Price Group stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $107.06, for a total value of $374,710.00. Following the completion of the transaction, the director now directly owns 19,243 shares in the company, valued at $2,060,155.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Scott B. David sold 45,118 shares of T. Rowe Price Group stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $107.88, for a total value of $4,867,329.84. Following the completion of the transaction, the vice president now owns 48,454 shares of the company’s stock, valued at $5,227,217.52. The disclosure for this sale can be found here. Insiders have sold 68,618 shares of company stock valued at $7,400,440 over the last 90 days. Insiders own 3.10% of the company’s stock.

A number of equities research analysts have commented on the company. Bank of America reiterated a “buy” rating and set a $107.00 target price (up previously from $102.00) on shares of T. Rowe Price Group in a report on Friday, March 8th. Deutsche Bank increased their target price on T. Rowe Price Group from $91.00 to $94.00 and gave the company a “hold” rating in a report on Friday, March 15th. BidaskClub upgraded T. Rowe Price Group from a “sell” rating to a “hold” rating in a report on Wednesday, March 13th. Citigroup increased their target price on T. Rowe Price Group from $98.00 to $108.00 and gave the company a “neutral” rating in a report on Monday, April 15th. Finally, Zacks Investment Research upgraded T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $116.00 target price on the stock in a report on Wednesday, April 3rd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $106.75.

T. Rowe Price Group 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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