Webster Bank N. A. Sells 200 Shares of T. Rowe Price Group Inc (TROW)

Webster Bank N. A. cut its holdings in T. Rowe Price Group Inc (NASDAQ:TROW) by 29.5% during the fourth quarter, Holdings Channel reports. The firm owned 479 shares of the asset manager’s stock after selling 200 shares during the quarter. Webster Bank N. A.’s holdings in T. Rowe Price Group were worth $44,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Envestnet Asset Management Inc. increased its holdings in T. Rowe Price Group by 259.4% during the second quarter. Envestnet Asset Management Inc. now owns 19,269 shares of the asset manager’s stock worth $2,237,000 after buying an additional 13,908 shares during the last quarter. Baird Financial Group Inc. increased its holdings in T. Rowe Price Group by 71.8% during the second quarter. Baird Financial Group Inc. now owns 25,120 shares of the asset manager’s stock worth $2,917,000 after buying an additional 10,496 shares during the last quarter. OppenheimerFunds Inc. increased its holdings in T. Rowe Price Group by 92.6% during the second quarter. OppenheimerFunds Inc. now owns 11,628 shares of the asset manager’s stock worth $1,350,000 after buying an additional 5,591 shares during the last quarter. BB&T Securities LLC increased its holdings in T. Rowe Price Group by 2.6% during the second quarter. BB&T Securities LLC now owns 35,801 shares of the asset manager’s stock worth $4,155,000 after buying an additional 915 shares during the last quarter. Finally, Voya Investment Management LLC increased its holdings in T. Rowe Price Group by 41.5% during the second quarter. Voya Investment Management LLC now owns 209,404 shares of the asset manager’s stock worth $24,310,000 after buying an additional 61,434 shares during the last quarter. Institutional investors own 71.32% of the company’s stock.

TROW has been the topic of a number of recent analyst reports. Deutsche Bank boosted their target price on shares of T. Rowe Price Group from $118.00 to $119.00 and gave the stock a “hold” rating in a report on Thursday, September 27th. UBS Group reduced their price objective on shares of T. Rowe Price Group from $127.00 to $121.00 and set a “neutral” rating for the company in a research report on Monday, October 8th. Morgan Stanley lifted their price objective on shares of T. Rowe Price Group from $116.00 to $118.00 and gave the stock a “hold” rating in a research report on Tuesday, October 9th. Zacks Investment Research raised shares of T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $122.00 price objective for the company in a research report on Thursday, October 11th. Finally, Barclays reduced their price objective on shares of T. Rowe Price Group from $114.00 to $95.00 and set an “underweight” rating for the company in a research report on Friday, October 26th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $105.40.

In other news, VP Christopher D. Alderson sold 5,681 shares of the business’s stock in a transaction dated Monday, December 10th. The shares were sold at an average price of $92.22, for a total value of $523,901.82. Following the completion of the sale, the vice president now owns 118,818 shares of the company’s stock, valued at $10,957,395.96. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 3.10% of the company’s stock.

TROW stock opened at $92.29 on Friday. T. Rowe Price Group Inc has a one year low of $84.59 and a one year high of $127.43. The firm has a market cap of $22.14 billion, a price-to-earnings ratio of 17.00, a P/E/G ratio of 1.16 and a beta of 1.12.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Thursday, October 25th. The asset manager reported $2.30 EPS for the quarter, topping the Zacks’ consensus estimate 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 firm had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the previous year, the business posted $1.56 earnings per share. On average, equities analysts predict that T. Rowe Price Group Inc will post 7.38 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 28th. Stockholders of record on Friday, December 14th were given a $0.70 dividend. The ex-dividend date was Thursday, December 13th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.03%. T. Rowe Price Group’s payout ratio is presently 51.57%.

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T. Rowe Price Group Company 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.

Further Reading: Intrinsic Value and Stock Selection

Want to see what other hedge funds are holding TROW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for T. Rowe Price Group Inc (NASDAQ:TROW).

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

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