Union Bankshares Corp Buys 1,278 Shares of T. Rowe Price Group Inc. (TROW)
Union Bankshares Corp increased its position in T. Rowe Price Group Inc. (NASDAQ:TROW) by 2.7% during the third quarter, according to its most recent disclosure with the SEC. The firm owned 49,233 shares of the company’s stock after buying an additional 1,278 shares during the period. Union Bankshares Corp’s holdings in T. Rowe Price Group were worth $3,274,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Quadrant Capital Group LLC boosted 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 in the last quarter. Euclid Advisors LLC acquired a new stake in T. Rowe Price Group during the second quarter valued at approximately $123,000. Societe Generale acquired a new stake in T. Rowe Price Group during the second quarter valued at approximately $126,000. WFG Advisors LP boosted 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 in the last quarter. Finally, Checchi Capital Advisers LLC boosted 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 in the last quarter. 69.82% of the stock is owned by institutional investors.
Shares of T. Rowe Price Group Inc. (NASDAQ:TROW) traded up 0.31% on Tuesday, hitting $73.38. The company’s stock had a trading volume of 1,079,629 shares. The stock has a market capitalization of $17.86 billion, a P/E ratio of 16.56 and a beta of 1.21. T. Rowe Price Group Inc. has a 52 week low of $62.97 and a 52 week high of $79.00. The stock’s 50 day moving average price is $67.91 and its 200 day moving average price is $70.13.
T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Thursday, October 27th. The company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.18 by $0.01. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate 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 was up 4.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.06 earnings per share. On average, analysts forecast that T. Rowe Price Group Inc. will post $4.38 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 29th. Stockholders of record on Thursday, December 15th will be given a $0.54 dividend. The ex-dividend date is Tuesday, December 13th. This represents a $2.16 annualized dividend and a dividend yield of 2.94%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 49.54%.
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Several equities analysts recently issued reports on the company. UBS AG raised T. Rowe Price Group from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $66.00 to $82.00 in a report on Thursday, November 10th. Zacks Investment Research cut 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 price objective on T. Rowe Price Group and gave the stock a “hold” rating in a report on Saturday, October 15th. Finally, Barclays PLC dropped their price target on T. Rowe Price Group from $72.00 to $68.00 and set an “equal weight” rating for the company in a research report on Thursday, October 13th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. The stock presently has a consensus 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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