Hendley & Co. Inc. Decreases Stock Holdings in T. Rowe Price Group Inc (NASDAQ:TROW)
Hendley & Co. Inc. lessened its holdings in shares of T. Rowe Price Group Inc (NASDAQ:TROW) by 0.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 60,870 shares of the asset manager’s stock after selling 275 shares during the quarter. T. Rowe Price Group comprises 3.4% of Hendley & Co. Inc.’s portfolio, making the stock its 9th biggest holding. Hendley & Co. Inc.’s holdings in T. Rowe Price Group were worth $6,954,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. First Trust Advisors LP boosted its stake in shares of T. Rowe Price Group by 2.5% during the first quarter. First Trust Advisors LP now owns 815,855 shares of the asset manager’s stock valued at $81,683,000 after purchasing an additional 19,584 shares during the period. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in shares of T. Rowe Price Group during the first quarter valued at approximately $4,676,000. Belpointe Asset Management LLC bought a new position in shares of T. Rowe Price Group during the first quarter valued at approximately $477,000. Marshall Wace LLP bought a new position in shares of T. Rowe Price Group during the first quarter valued at approximately $3,300,000. Finally, Marshall Wace North America L.P. bought a new position in shares of T. Rowe Price Group during the first quarter valued at approximately $3,083,000. 68.66% of the stock is currently owned by institutional investors.
In other news, VP W. Sharps Robert sold 19,064 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $118.50, for a total value of $2,259,084.00. Following the sale, the vice president now directly owns 467,715 shares of the company’s stock, valued at $55,424,227.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Christopher D. Alderson sold 36,898 shares of the stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $114.41, for a total value of $4,221,500.18. Following the completion of the sale, the vice president now directly owns 414,144 shares in the company, valued at $47,382,215.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 79,773 shares of company stock valued at $9,187,023. 3.10% of the stock is owned by corporate insiders.
TROW traded down $0.20 during trading on Wednesday, reaching $111.18. The stock had a trading volume of 79,911 shares, compared to its average volume of 1,116,633. The stock’s 50 day moving average is $112.82 and its two-hundred day moving average is $108.29. The company has a current ratio of 3.91, a quick ratio of 3.91 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $26.13 billion, a price-to-earnings ratio of 15.55, a P/E/G ratio of 1.77 and a beta of 1.05. T. Rowe Price Group Inc has a one year low of $84.59 and a one year high of $120.99.
T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Wednesday, July 24th. The asset manager reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.15. The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.39 billion. T. Rowe Price Group had a return on equity of 28.80% and a net margin of 36.17%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.87 earnings per share. On average, equities research analysts predict that T. Rowe Price Group Inc will post 7.8 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $0.76 dividend. The ex-dividend date was Thursday, September 12th. This represents a $3.04 dividend on an annualized basis and a yield of 2.73%. T. Rowe Price Group’s dividend payout ratio (DPR) is 42.52%.
About T. Rowe Price Group
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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