T. Rowe Price Group Inc (TROW) Shares Sold by Bridges Investment Counsel Inc.

Bridges Investment Counsel Inc. lowered its position in T. Rowe Price Group Inc (NASDAQ:TROW) by 8.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,240 shares of the asset manager’s stock after selling 670 shares during the quarter. Bridges Investment Counsel Inc.’s holdings in T. Rowe Price Group were worth $760,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the stock. Rhumbline Advisers boosted its holdings in T. Rowe Price Group by 2.1% in the fourth quarter. Rhumbline Advisers now owns 480,858 shares of the asset manager’s stock valued at $50,456,000 after acquiring an additional 10,089 shares during the last quarter. Arizona State Retirement System raised its position in T. Rowe Price Group by 18.6% in the fourth quarter. Arizona State Retirement System now owns 85,429 shares of the asset manager’s stock valued at $8,964,000 after purchasing an additional 13,385 shares during the period. D.A. Davidson & CO. raised its position in T. Rowe Price Group by 2.0% in the fourth quarter. D.A. Davidson & CO. now owns 104,890 shares of the asset manager’s stock valued at $11,006,000 after purchasing an additional 2,040 shares during the period. Advisory Services Network LLC raised its position in T. Rowe Price Group by 955.1% in the fourth quarter. Advisory Services Network LLC now owns 8,029 shares of the asset manager’s stock valued at $842,000 after purchasing an additional 7,268 shares during the period. Finally, Toronto Dominion Bank raised its position in T. Rowe Price Group by 13.7% in the fourth quarter. Toronto Dominion Bank now owns 104,417 shares of the asset manager’s stock valued at $10,956,000 after purchasing an additional 12,621 shares during the period. Hedge funds and other institutional investors own 71.89% of the company’s stock.

Shares of T. Rowe Price Group Inc (NASDAQ TROW) opened at $109.56 on Friday. T. Rowe Price Group Inc has a 52-week low of $66.70 and a 52-week high of $120.07. The stock has a market capitalization of $26,247.02, a PE ratio of 19.95, a PEG ratio of 1.27 and a beta of 1.28.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Tuesday, January 30th. The asset manager reported $1.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.48 by $0.04. T. Rowe Price Group had a return on equity of 25.30% and a net margin of 31.07%. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period in the previous year, the company earned $1.21 earnings per share. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. analysts predict that T. Rowe Price Group Inc will post 7.11 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.56%. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $0.57. The ex-dividend date is Wednesday, March 14th. T. Rowe Price Group’s payout ratio is presently 38.19%.

Several research firms have commented on TROW. ValuEngine raised T. Rowe Price Group from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. BidaskClub lowered T. Rowe Price Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 31st. UBS Group raised T. Rowe Price Group from a “sell” rating to a “neutral” rating and raised their price objective for the company from $75.00 to $110.00 in a research report on Tuesday, January 9th. Bank of America raised T. Rowe Price Group from a “neutral” rating to a “buy” rating and raised their price objective for the company from $113.00 to $125.00 in a research report on Monday, January 8th. Finally, Zacks Investment Research raised T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $118.00 price objective on the stock in a research report on Wednesday, December 27th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $100.60.

In related news, CFO Kenneth V. Moreland sold 14,419 shares of the business’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $97.07, for a total value of $1,399,652.33. Following the completion of the sale, the chief financial officer now directly owns 125,264 shares of the company’s stock, valued at $12,159,376.48. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William J. Stromberg sold 30,000 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $97.09, for a total value of $2,912,700.00. Following the completion of the sale, the chief executive officer now directly owns 534,077 shares of the company’s stock, valued at $51,853,535.93. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 204,980 shares of company stock worth $20,776,729. Corporate insiders own 3.60% of the company’s stock.

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T. Rowe Price Group Company Profile

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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