Keybank National Association OH lowered its stake in shares of T. Rowe Price Group Inc (NASDAQ:TROW) by 2.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 248,568 shares of the asset manager’s stock after selling 6,240 shares during the quarter. Keybank National Association OH owned 0.11% of T. Rowe Price Group worth $28,399,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. North Star Investment Management Corp. bought a new position in T. Rowe Price Group in the 3rd quarter valued at $27,000. Kistler Tiffany Companies LLC grew its position in T. Rowe Price Group by 66.7% in the 2nd quarter. Kistler Tiffany Companies LLC now owns 250 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 100 shares during the last quarter. Mechanics Bank Trust Department bought a new position in T. Rowe Price Group in the 3rd quarter valued at $31,000. AdvisorNet Financial Inc grew its position in T. Rowe Price Group by 121.1% in the 2nd quarter. AdvisorNet Financial Inc now owns 294 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 161 shares during the last quarter. Finally, Usca Ria LLC bought a new position in T. Rowe Price Group in the 3rd quarter valued at $45,000. 69.58% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ TROW traded down $0.85 during mid-day trading on Friday, reaching $119.53. 53,911 shares of the company were exchanged, compared to its average volume of 1,081,644. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.02. The stock has a market cap of $27.84 billion, a price-to-earnings ratio of 16.72, a P/E/G ratio of 1.76 and a beta of 1.04. T. Rowe Price Group Inc has a 1 year low of $84.59 and a 1 year high of $121.80. The firm has a 50-day moving average of $113.12 and a 200 day moving average of $109.49.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 16th will be paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date is Friday, December 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 42.52%.
In other T. Rowe Price Group news, VP W. Sharps Robert sold 19,064 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $118.50, for a total value of $2,259,084.00. Following the completion of the sale, the vice president now directly owns 467,715 shares in the company, valued at $55,424,227.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 3.10% of the company’s stock.
Several brokerages have weighed in on TROW. Citigroup lowered their target price on T. Rowe Price Group from $116.00 to $110.00 and set a “neutral” rating for the company in a report on Tuesday, October 15th. ValuEngine cut T. Rowe Price Group from a “hold” rating to a “sell” rating in a report on Monday, September 16th. Deutsche Bank lowered their target price on T. Rowe Price Group from $115.00 to $112.00 and set a “hold” rating for the company in a report on Friday, August 9th. Wells Fargo & Co set a $112.00 target price on T. Rowe Price Group and gave the stock a “hold” rating in a report on Friday, October 11th. Finally, Credit Suisse Group set a $135.00 target price on T. Rowe Price Group and gave the stock a “buy” rating in a report on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. T. Rowe Price Group presently has an average rating of “Hold” and an average price target of $110.54.
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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