Cornerstone Investment Partners LLC Boosts Position in T. Rowe Price Group Inc (TROW)
Cornerstone Investment Partners LLC increased its stake in shares of T. Rowe Price Group Inc (NASDAQ:TROW) by 102.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,092 shares of the asset manager’s stock after purchasing an additional 12,693 shares during the quarter. Cornerstone Investment Partners LLC’s holdings in T. Rowe Price Group were worth $2,633,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of TROW. Signature Estate & Investment Advisors LLC acquired a new stake in shares of T. Rowe Price Group during the third quarter worth approximately $118,000. Grove Bank & Trust boosted its holdings in shares of T. Rowe Price Group by 178.7% during the third quarter. Grove Bank & Trust now owns 1,310 shares of the asset manager’s stock worth $119,000 after purchasing an additional 840 shares during the period. Quadrant Capital Group LLC boosted its holdings in shares of T. Rowe Price Group by 5.4% during the second quarter. Quadrant Capital Group LLC now owns 1,749 shares of the asset manager’s stock worth $121,000 after purchasing an additional 89 shares during the period. Sun Life Financial INC boosted its holdings in shares of T. Rowe Price Group by 19,500.0% during the second quarter. Sun Life Financial INC now owns 1,764 shares of the asset manager’s stock worth $131,000 after purchasing an additional 1,755 shares during the period. Finally, Mckinley Capital Management LLC Delaware acquired a new stake in shares of T. Rowe Price Group during the second quarter worth approximately $152,000. Institutional investors and hedge funds own 72.43% of the company’s stock.
In other news, CFO Kenneth V. Moreland sold 8,066 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $104.12, for a total value of $839,831.92. Following the transaction, the chief financial officer now owns 100,796 shares of the company’s stock, valued at $10,494,879.52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Christopher D. Alderson sold 91,605 shares of T. Rowe Price Group stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $103.28, for a total transaction of $9,460,964.40. Following the completion of the transaction, the vice president now directly owns 169,816 shares in the company, valued at approximately $17,538,596.48. The disclosure for this sale can be found here. In the last three months, insiders sold 204,980 shares of company stock worth $20,776,729. Insiders own 3.60% of the company’s stock.
Shares of T. Rowe Price Group Inc (TROW) traded up $1.56 on Monday, reaching $117.35. 1,719,900 shares of the company traded hands, compared to its average volume of 1,423,508. The company has a market capitalization of $28,360.00, a price-to-earnings ratio of 19.21, a PEG ratio of 1.62 and a beta of 1.32. T. Rowe Price Group Inc has a 52-week low of $65.33 and a 52-week high of $118.19.
T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Thursday, October 26th. The asset manager reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.20. T. Rowe Price Group had a net margin of 33.10% and a return on equity of 24.76%. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter last year, the firm earned $1.17 earnings per share. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. analysts anticipate that T. Rowe Price Group Inc will post 5.32 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, December 28th. Stockholders of record on Thursday, December 14th were given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date was Wednesday, December 13th. T. Rowe Price Group’s dividend payout ratio is 37.32%.
T. Rowe Price Group 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.
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