MassMutual Private Wealth & Trust FSB reduced its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW – Free Report) by 42.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 707 shares of the asset manager’s stock after selling 522 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in T. Rowe Price Group were worth $80,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in TROW. Guinness Asset Management LTD lifted its holdings in T. Rowe Price Group by 65.9% in the 4th quarter. Guinness Asset Management LTD now owns 3,770 shares of the asset manager’s stock worth $426,000 after purchasing an additional 1,497 shares during the last quarter. Eldred Rock Partners LLC raised its position in shares of T. Rowe Price Group by 0.4% in the fourth quarter. Eldred Rock Partners LLC now owns 69,078 shares of the asset manager’s stock valued at $7,834,000 after purchasing an additional 242 shares during the period. City Holding Co. lifted its stake in shares of T. Rowe Price Group by 3.6% in the fourth quarter. City Holding Co. now owns 3,622 shares of the asset manager’s stock worth $410,000 after buying an additional 127 shares during the last quarter. Ellsworth Advisors LLC bought a new stake in shares of T. Rowe Price Group during the 4th quarter worth $4,748,000. Finally, Steigerwald Gordon & Koch Inc. grew its stake in T. Rowe Price Group by 1.3% in the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 119,514 shares of the asset manager’s stock valued at $13,516,000 after buying an additional 1,512 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.
Insider Buying and Selling
In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total transaction of $499,197.45. Following the completion of the sale, the vice president now directly owns 119,577 shares of the company’s stock, valued at $14,749,822.95. This trade represents a 3.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.00% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
Read Our Latest Stock Report on TROW
T. Rowe Price Group Stock Performance
Shares of T. Rowe Price Group stock opened at $113.38 on Friday. The firm has a market cap of $25.19 billion, a P/E ratio of 12.40, a price-to-earnings-growth ratio of 1.68 and a beta of 1.43. The firm’s 50-day simple moving average is $117.44 and its 200-day simple moving average is $112.80. T. Rowe Price Group, Inc. has a twelve month low of $100.49 and a twelve month high of $125.81.
T. Rowe Price Group (NASDAQ:TROW – Get Free Report) last posted its earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, topping the consensus estimate of $2.36 by $0.21. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. T. Rowe Price Group’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the company earned $2.17 EPS. On average, equities analysts forecast that T. Rowe Price Group, Inc. will post 9.45 earnings per share for the current fiscal year.
T. Rowe Price Group Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were issued a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 4.37%. The ex-dividend date was Friday, December 13th. T. Rowe Price Group’s payout ratio is 54.27%.
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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