West Oak Capital LLC lifted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW – Free Report) by 62.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,695 shares of the asset manager’s stock after purchasing an additional 4,510 shares during the quarter. West Oak Capital LLC’s holdings in T. Rowe Price Group were worth $1,323,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Private Advisor Group LLC increased its holdings in shares of T. Rowe Price Group by 5.5% during the 2nd quarter. Private Advisor Group LLC now owns 10,926 shares of the asset manager’s stock worth $1,260,000 after buying an additional 571 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in T. Rowe Price Group in the second quarter valued at $401,000. Caprock Group LLC raised its position in T. Rowe Price Group by 58.6% in the second quarter. Caprock Group LLC now owns 3,599 shares of the asset manager’s stock valued at $415,000 after purchasing an additional 1,330 shares during the period. PFG Investments LLC acquired a new position in shares of T. Rowe Price Group in the 2nd quarter valued at $341,000. Finally, Wedbush Securities Inc. grew its holdings in shares of T. Rowe Price Group by 5.4% during the 2nd quarter. Wedbush Securities Inc. now owns 7,711 shares of the asset manager’s stock worth $889,000 after purchasing an additional 393 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.
Insider Activity
In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the completion of the sale, the vice president now directly owns 119,577 shares in the company, valued at $14,749,822.95. The trade was a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 2.00% of the company’s stock.
Analysts Set New Price Targets
View Our Latest Report on TROW
T. Rowe Price Group Stock Down 3.8 %
Shares of TROW traded down $4.29 on Friday, reaching $108.55. The stock had a trading volume of 2,164,023 shares, compared to its average volume of 1,238,487. T. Rowe Price Group, Inc. has a twelve month low of $100.49 and a twelve month high of $125.81. The firm has a market capitalization of $24.12 billion, a PE ratio of 11.88, a PEG ratio of 1.73 and a beta of 1.43. The firm has a 50-day moving average of $118.28 and a 200 day moving average of $113.04.
T. Rowe Price Group (NASDAQ:TROW – Get Free Report) last announced its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.21. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the previous year, the business posted $2.17 earnings per share. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.39 earnings per share for the current fiscal year.
T. Rowe Price Group Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were issued a $1.24 dividend. The ex-dividend date was Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.57%. T. Rowe Price Group’s dividend payout ratio (DPR) is 54.27%.
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.
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