Bank of Montreal Can Boosts Position in T. Rowe Price Group Inc (TROW)

Bank of Montreal Can increased its position in shares of T. Rowe Price Group Inc (NASDAQ:TROW) by 20.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 947,145 shares of the asset manager’s stock after buying an additional 160,107 shares during the quarter. Bank of Montreal Can owned about 0.39% of T. Rowe Price Group worth $99,383,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Security National Bank of SO Dak raised its stake in T. Rowe Price Group by 0.7% during the 2nd quarter. Security National Bank of SO Dak now owns 11,910 shares of the asset manager’s stock worth $884,000 after buying an additional 85 shares during the period. Quadrant Capital Group LLC raised its stake in T. Rowe Price Group by 5.4% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,749 shares of the asset manager’s stock worth $121,000 after buying an additional 89 shares during the period. Hall Capital Management Co. Inc. raised its stake in T. Rowe Price Group by 1.2% during the 2nd quarter. Hall Capital Management Co. Inc. now owns 10,942 shares of the asset manager’s stock worth $812,000 after buying an additional 130 shares during the period. Thrivent Financial For Lutherans raised its stake in T. Rowe Price Group by 2.2% during the 2nd quarter. Thrivent Financial For Lutherans now owns 9,118 shares of the asset manager’s stock worth $677,000 after buying an additional 200 shares during the period. Finally, BRYN MAWR TRUST Co raised its stake in T. Rowe Price Group by 6.7% during the 2nd quarter. BRYN MAWR TRUST Co now owns 3,341 shares of the asset manager’s stock worth $248,000 after buying an additional 211 shares during the period. 72.33% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts recently weighed in on TROW shares. Morgan Stanley raised T. Rowe Price Group from an “underweight” rating to an “equal” rating and upped their price target for the stock from $77.00 to $93.00 in a research note on Thursday, October 5th. Zacks Investment Research raised T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $98.00 price objective for the company in a report on Tuesday, September 26th. Goldman Sachs Group raised T. Rowe Price Group from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $85.00 to $100.00 in a report on Thursday, September 28th. Bank of America raised T. Rowe Price Group from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $113.00 to $125.00 in a report on Monday, January 8th. Finally, Jefferies Group reissued a “buy” rating and set a $104.00 price objective (up from $96.00) on shares of T. Rowe Price Group in a report on Tuesday, October 10th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $98.70.

T. Rowe Price Group Inc (NASDAQ:TROW) opened at $116.38 on Thursday. The stock has a market capitalization of $28,200.00, a P/E ratio of 19.05, a PEG ratio of 1.60 and a beta of 1.32. T. Rowe Price Group Inc has a twelve month low of $65.33 and a twelve month high of $117.64.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Thursday, October 26th. The asset manager reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.20. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.22 billion. T. Rowe Price Group had a return on equity of 24.76% and a net margin of 33.10%. T. Rowe Price Group’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.17 earnings per share. equities analysts predict that T. Rowe Price Group Inc will post 5.32 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 28th. Stockholders of record on Thursday, December 14th were issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 1.96%. The ex-dividend date was Wednesday, December 13th. T. Rowe Price Group’s dividend payout ratio is presently 37.32%.

In other news, CFO Kenneth V. Moreland sold 8,066 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $104.12, for a total value of $839,831.92. Following the completion of the transaction, the chief financial officer now directly owns 100,796 shares of the company’s stock, valued at $10,494,879.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Christopher D. Alderson sold 6,808 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $102.83, for a total value of $700,066.64. Following the completion of the transaction, the vice president now directly owns 119,846 shares of the company’s stock, valued at $12,323,764.18. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 204,980 shares of company stock valued at $20,776,729. 3.60% of the stock is currently owned by corporate insiders.

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About T. Rowe Price Group

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.

Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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