T. Rowe Price Group Inc. (TROW) Shares Sold by Banque Pictet & Cie SA
Banque Pictet & Cie SA cut its position in shares of T. Rowe Price Group Inc. (NASDAQ:TROW) by 10.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 47,130 shares of the company’s stock after selling 5,458 shares during the period. Banque Pictet & Cie SA’s holdings in T. Rowe Price Group were worth $3,134,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Quadrant Capital Group LLC increased its stake in T. Rowe Price Group by 2.5% in the second quarter. Quadrant Capital Group LLC now owns 1,711 shares of the company’s stock valued at $119,000 after buying an additional 42 shares during the period. Euclid Advisors LLC purchased a new stake in T. Rowe Price Group during the second quarter valued at $123,000. Societe Generale purchased a new stake in T. Rowe Price Group during the second quarter valued at $126,000. WFG Advisors LP increased its stake in T. Rowe Price Group by 22.2% in the second quarter. WFG Advisors LP now owns 1,870 shares of the company’s stock valued at $136,000 after buying an additional 340 shares during the period. Finally, Checchi Capital Advisers LLC increased its stake in T. Rowe Price Group by 0.9% in the second quarter. Checchi Capital Advisers LLC now owns 1,958 shares of the company’s stock valued at $143,000 after buying an additional 18 shares during the period. 69.82% of the stock is currently owned by hedge funds and other institutional investors.
Shares of T. Rowe Price Group Inc. (NASDAQ:TROW) traded up 0.31% during mid-day trading on Tuesday, reaching $73.38. The company’s stock had a trading volume of 1,079,629 shares. The company has a 50-day moving average of $67.91 and a 200-day moving average of $70.13. T. Rowe Price Group Inc. has a 12 month low of $62.97 and a 12 month high of $79.00. The company has a market cap of $17.86 billion, a P/E ratio of 16.56 and a beta of 1.21.
T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Thursday, October 27th. The company reported $1.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.18 by $0.01. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.08 billion. T. Rowe Price Group had a return on equity of 24.78% and a net margin of 26.71%. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.06 earnings per share. Equities research analysts forecast that T. Rowe Price Group Inc. will post $4.38 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 29th. Stockholders of record on Thursday, December 15th will be issued a dividend of $0.54 per share. The ex-dividend date is Tuesday, December 13th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.94%. T. Rowe Price Group’s dividend payout ratio is currently 49.54%.
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Several research firms recently weighed in on TROW. UBS AG raised T. Rowe Price Group from a “neutral” rating to a “buy” rating and raised their price objective for the company from $66.00 to $82.00 in a report on Thursday, November 10th. Zacks Investment Research downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Tuesday, November 1st. Citigroup Inc. reaffirmed a “neutral” rating on shares of T. Rowe Price Group in a report on Sunday, October 30th. Keefe, Bruyette & Woods set a $72.00 target price on T. Rowe Price Group and gave the stock a “hold” rating in a report on Saturday, October 15th. Finally, Barclays PLC cut their target price on T. Rowe Price Group from $72.00 to $68.00 and set an “equal weight” rating on the stock in a report on Thursday, October 13th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $75.00.
About T. Rowe Price Group
T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services to individual and institutional investors in the sponsored T. Rowe Price mutual funds distributed in the United States and other investment portfolios. It operates through investment advisory business segment.
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