TrimTabs Asset Management LLC Purchases New Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)
TrimTabs Asset Management LLC purchased a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the first quarter, HoldingsChannel reports. The firm purchased 8,104 shares of the asset manager’s stock, valued at approximately $1,443,000.
Several other institutional investors also recently modified their holdings of TROW. Montag A & Associates Inc. acquired a new stake in T. Rowe Price Group during the 4th quarter worth $25,000. Ellevest Inc. grew its holdings in T. Rowe Price Group by 435.0% during the 4th quarter. Ellevest Inc. now owns 214 shares of the asset manager’s stock worth $32,000 after acquiring an additional 174 shares during the period. Peconic Partners LLC acquired a new stake in T. Rowe Price Group during the 4th quarter worth $35,000. Advisory Alpha LLC acquired a new stake in T. Rowe Price Group during the 3rd quarter worth $38,000. Finally, Charter Oak Capital Management LLC acquired a new stake in T. Rowe Price Group during the 4th quarter worth $39,000. 69.48% of the stock is owned by institutional investors and hedge funds.
TROW has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price target on shares of T. Rowe Price Group from $167.00 to $169.00 and gave the stock an “equal weight” rating in a research report on Friday, January 29th. Wells Fargo & Company lifted their price target on shares of T. Rowe Price Group from $170.00 to $200.00 in a research report on Thursday, January 14th. Barclays lifted their price target on shares of T. Rowe Price Group from $145.00 to $150.00 and gave the stock an “underweight” rating in a research report on Monday, January 25th. The Goldman Sachs Group raised shares of T. Rowe Price Group from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $134.00 to $170.00 in a research report on Tuesday, January 5th. Finally, Credit Suisse Group cut shares of T. Rowe Price Group from an “outperform” rating to a “neutral” rating and boosted their price objective for the company from $179.00 to $181.00 in a research report on Tuesday, March 30th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. T. Rowe Price Group has an average rating of “Hold” and a consensus target price of $156.18.
TROW stock traded down $0.39 during midday trading on Thursday, hitting $176.56. The company’s stock had a trading volume of 4,563 shares, compared to its average volume of 1,211,499. T. Rowe Price Group, Inc. has a twelve month low of $96.42 and a twelve month high of $179.62. The company’s fifty day moving average price is $170.33 and its 200 day moving average price is $152.29. The stock has a market capitalization of $40.25 billion, a P/E ratio of 19.82, a PEG ratio of 1.19 and a beta of 1.15.
T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Thursday, January 28th. The asset manager reported $2.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.21. T. Rowe Price Group had a net margin of 35.92% and a return on equity of 30.52%. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same period in the previous year, the business earned $2.03 EPS. The company’s revenue was up 18.0% compared to the same quarter last year. As a group, equities research analysts forecast that T. Rowe Price Group, Inc. will post 9.23 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 30th. Shareholders of record on Tuesday, March 16th were paid a $1.08 dividend. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $0.90. This represents a $4.32 annualized dividend and a yield of 2.45%. The ex-dividend date was Monday, March 15th. T. Rowe Price Group’s payout ratio is presently 53.53%.
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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