US Bancorp DE trimmed its position in shares of T. Rowe Price Group Inc (NASDAQ:TROW) by 6.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 94,493 shares of the asset manager’s stock after selling 6,388 shares during the period. US Bancorp DE’s holdings in T. Rowe Price Group were worth $10,316,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in TROW. Townsend & Associates Inc purchased a new position in T. Rowe Price Group during the third quarter valued at $135,000. Focused Wealth Management Inc purchased a new position in T. Rowe Price Group during the second quarter valued at $139,000. Signature Estate & Investment Advisors LLC purchased a new position in T. Rowe Price Group during the second quarter valued at $151,000. Parallel Advisors LLC grew its stake in T. Rowe Price Group by 169.1% during the second quarter. Parallel Advisors LLC now owns 1,448 shares of the asset manager’s stock valued at $168,000 after acquiring an additional 910 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. purchased a new position in T. Rowe Price Group during the second quarter valued at $190,000. Hedge funds and other institutional investors own 70.99% of the company’s stock.
Several equities analysts recently weighed in on TROW shares. Deutsche Bank raised their target price on shares of T. Rowe Price Group from $118.00 to $119.00 and gave the company a “hold” rating in a research note on Thursday, September 27th. BidaskClub cut shares of T. Rowe Price Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 18th. Wells Fargo & Co cut their target price on shares of T. Rowe Price Group from $115.00 to $106.00 and set a “market perform” rating for the company in a research note on Friday, October 26th. UBS Group cut their target price on shares of T. Rowe Price Group from $127.00 to $121.00 and set a “neutral” rating for the company in a research note on Monday, October 8th. Finally, Zacks Investment Research cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Friday, August 10th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $114.11.
T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Thursday, October 25th. The asset manager reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $1.93 by $0.37. T. Rowe Price Group had a net margin of 33.98% and a return on equity of 29.52%. The business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same period last year, the company posted $1.56 EPS. As a group, equities analysts predict that T. Rowe Price Group Inc will post 7.37 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, December 14th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.80%. T. Rowe Price Group’s payout ratio is currently 51.57%.
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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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