Cardinal Capital Management Has $4.64 Million Holdings in T. Rowe Price Group Inc (TROW)

Cardinal Capital Management boosted its stake in T. Rowe Price Group Inc (NASDAQ:TROW) by 0.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 46,391 shares of the asset manager’s stock after acquiring an additional 214 shares during the quarter. T. Rowe Price Group comprises about 1.3% of Cardinal Capital Management’s holdings, making the stock its 28th largest holding. Cardinal Capital Management’s holdings in T. Rowe Price Group were worth $4,644,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Duality Advisers LP purchased a new position in shares of T. Rowe Price Group during the 4th quarter valued at approximately $2,724,000. Goelzer Investment Management Inc. raised its position in shares of T. Rowe Price Group by 1.4% during the 4th quarter. Goelzer Investment Management Inc. now owns 51,876 shares of the asset manager’s stock valued at $4,789,000 after acquiring an additional 724 shares in the last quarter. Huntington National Bank raised its position in shares of T. Rowe Price Group by 44.6% during the 4th quarter. Huntington National Bank now owns 28,400 shares of the asset manager’s stock valued at $2,622,000 after acquiring an additional 8,762 shares in the last quarter. APG Asset Management N.V. raised its position in shares of T. Rowe Price Group by 112.3% during the 4th quarter. APG Asset Management N.V. now owns 1,064,185 shares of the asset manager’s stock valued at $85,943,000 after acquiring an additional 562,900 shares in the last quarter. Finally, Dubuque Bank & Trust Co. raised its position in shares of T. Rowe Price Group by 3.0% during the 4th quarter. Dubuque Bank & Trust Co. now owns 39,670 shares of the asset manager’s stock valued at $3,663,000 after acquiring an additional 1,153 shares in the last quarter. Hedge funds and other institutional investors own 72.65% of the company’s stock.

In other news, insider Edward C. Bernard sold 10,000 shares of the stock in a transaction on Friday, February 15th. The stock was sold at an average price of $97.15, for a total value of $971,500.00. Following the completion of the transaction, the insider now owns 651,532 shares of the company’s stock, valued at $63,296,333.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP W. Sharps Robert sold 2,617 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $100.73, for a total value of $263,610.41. Following the completion of the transaction, the vice president now directly owns 448,651 shares of the company’s stock, valued at approximately $45,192,615.23. The disclosure for this sale can be found here. Insiders sold 117,082 shares of company stock worth $11,361,948 over the last ninety days. 3.10% of the stock is owned by corporate insiders.

Several research firms recently issued reports on TROW. Bank of America set a $112.00 price target on T. Rowe Price Group and gave the company a “buy” rating in a research report on Tuesday. Zacks Investment Research raised T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $116.00 price target on the stock in a research report on Wednesday, April 3rd. Jefferies Financial Group upped their price target on T. Rowe Price Group from $103.00 to $119.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Deutsche Bank upped their price target on T. Rowe Price Group from $91.00 to $94.00 and gave the company a “hold” rating in a research report on Friday, March 15th. Finally, BidaskClub raised T. Rowe Price Group from a “sell” rating to a “hold” rating in a research report on Wednesday, March 13th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $105.33.

NASDAQ TROW traded up $0.70 during trading hours on Thursday, hitting $104.75. The company had a trading volume of 887,501 shares, compared to its average volume of 1,424,403. T. Rowe Price Group Inc has a fifty-two week low of $84.59 and a fifty-two week high of $127.43. The firm has a market capitalization of $24.57 billion, a PE ratio of 14.65, a P/E/G ratio of 1.87 and a beta of 1.04.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Wednesday, January 30th. The asset manager reported $1.41 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.66 by ($0.25). T. Rowe Price Group had a return on equity of 29.16% and a net margin of 33.95%. The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same period in the prior year, the business earned $1.52 earnings per share. T. Rowe Price Group’s quarterly revenue was up 1.1% on a year-over-year basis. On average, equities research analysts predict that T. Rowe Price Group Inc will post 6.66 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.76 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $0.70. This represents a $3.04 annualized dividend and a yield of 2.90%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 42.52%.

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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.

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

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