Amundi Pioneer Asset Management Inc. trimmed its position in T. Rowe Price Group Inc (NASDAQ:TROW) by 8.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 647,379 shares of the asset manager’s stock after selling 59,246 shares during the quarter. Amundi Pioneer Asset Management Inc. owned 0.27% of T. Rowe Price Group worth $64,815,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Pacer Advisors Inc. purchased a new stake in T. Rowe Price Group in the first quarter valued at about $2,009,000. Duality Advisers LP acquired a new position in shares of T. Rowe Price Group in the fourth quarter valued at about $2,724,000. APG Asset Management N.V. increased its holdings in shares of T. Rowe Price Group by 112.3% in the fourth quarter. APG Asset Management N.V. now owns 1,064,185 shares of the asset manager’s stock valued at $85,943,000 after purchasing an additional 562,900 shares during the period. Sprucegrove Investment Management Ltd. increased its holdings in shares of T. Rowe Price Group by 15.6% in the first quarter. Sprucegrove Investment Management Ltd. now owns 254,800 shares of the asset manager’s stock valued at $25,511,000 after purchasing an additional 34,300 shares during the period. Finally, Northeast Investment Management increased its holdings in shares of T. Rowe Price Group by 0.8% in the fourth quarter. Northeast Investment Management now owns 59,583 shares of the asset manager’s stock valued at $5,501,000 after purchasing an additional 484 shares during the period. Institutional investors and hedge funds own 69.32% of the company’s stock.
Shares of NASDAQ TROW traded down $0.66 during trading on Monday, reaching $109.05. The stock had a trading volume of 1,175,800 shares, compared to its average volume of 1,269,845. T. Rowe Price Group Inc has a fifty-two week low of $84.59 and a fifty-two week high of $125.35. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.74 and a current ratio of 3.74. The stock has a 50-day moving average price of $104.96. The stock has a market capitalization of $25.94 billion, a P/E ratio of 15.39, a P/E/G ratio of 1.61 and a beta of 1.07.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend was Thursday, June 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is 42.52%.
In other T. Rowe Price Group news, insider Edward C. Bernard sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $107.92, for a total transaction of $2,158,400.00. Following the transaction, the insider now owns 649,135 shares in the company, valued at approximately $70,054,649.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mary K. Bush sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $107.06, for a total value of $374,710.00. Following the transaction, the director now owns 19,243 shares in the company, valued at approximately $2,060,155.58. The disclosure for this sale can be found here. Insiders sold a total of 68,618 shares of company stock valued at $7,400,440 over the last three months. Company insiders own 3.10% of the company’s stock.
A number of research analysts have recently weighed in on the company. BidaskClub lowered T. Rowe Price Group from a “hold” rating to a “sell” rating in a report on Thursday. Zacks Investment Research raised 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. Bank of America set a $112.00 target price on T. Rowe Price Group and gave the stock a “buy” rating in a report on Tuesday, April 9th. Jefferies Financial Group raised their target price on T. Rowe Price Group from $103.00 to $119.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Finally, Gabelli reaffirmed a “buy” rating on shares of T. Rowe Price Group in a report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus 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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