Essex Savings Bank Has $215,000 Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Essex Savings Bank trimmed its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROWFree Report) by 56.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,996 shares of the asset manager’s stock after selling 2,549 shares during the period. Essex Savings Bank’s holdings in T. Rowe Price Group were worth $215,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of TROW. Union Savings Bank acquired a new position in shares of T. Rowe Price Group during the second quarter valued at about $25,000. OFI Invest Asset Management bought a new stake in shares of T. Rowe Price Group during the third quarter valued at approximately $25,000. Creative Financial Designs Inc. ADV lifted its holdings in shares of T. Rowe Price Group by 83.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock worth $25,000 after purchasing an additional 106 shares in the last quarter. PCA Investment Advisory Services Inc. acquired a new position in T. Rowe Price Group during the second quarter worth $26,000. Finally, Fortitude Family Office LLC bought a new stake in shares of T. Rowe Price Group during the fourth quarter worth about $33,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insider Activity

In related news, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the transaction, the director now directly owns 21,073 shares in the company, valued at approximately $2,493,357.36. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Jessica M. Hiebler sold 1,138 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $107.13, for a total transaction of $121,913.94. Following the completion of the sale, the insider now directly owns 14,113 shares in the company, valued at $1,511,925.69. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $118.32, for a total value of $1,034,116.80. Following the completion of the sale, the director now directly owns 21,073 shares in the company, valued at $2,493,357.36. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW opened at $118.55 on Wednesday. The stock has a market capitalization of $26.51 billion, a P/E ratio of 15.28, a PEG ratio of 2.40 and a beta of 1.40. T. Rowe Price Group, Inc. has a one year low of $87.43 and a one year high of $132.76. The firm’s 50 day simple moving average is $113.17 and its two-hundred day simple moving average is $105.88.

T. Rowe Price Group (NASDAQ:TROWGet Free Report) last announced its quarterly earnings data on Thursday, February 8th. The asset manager reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.12. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.41%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.74 EPS. As a group, equities analysts expect that T. Rowe Price Group, Inc. will post 7.75 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a $1.24 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $4.96 annualized dividend and a dividend yield of 4.18%. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.22. T. Rowe Price Group’s payout ratio is currently 63.92%.

Wall Street Analysts Forecast Growth

TROW has been the subject of several analyst reports. UBS Group increased their price objective on T. Rowe Price Group from $86.00 to $102.00 and gave the stock a “sell” rating in a research note on Wednesday, January 10th. Morgan Stanley lifted their target price on shares of T. Rowe Price Group from $101.00 to $106.00 and gave the stock an “equal weight” rating in a research report on Friday, January 19th. Wells Fargo & Company boosted their price objective on T. Rowe Price Group from $105.00 to $108.00 and gave the stock an “underweight” rating in a research report on Friday, February 9th. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Finally, TD Cowen initiated coverage on shares of T. Rowe Price Group in a report on Thursday, January 4th. They issued an “underperform” rating and a $88.00 price target on the stock. Six research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat.com, T. Rowe Price Group presently has an average rating of “Reduce” and a consensus target price of $97.30.

Get Our Latest Report on T. Rowe Price Group

T. Rowe Price Group Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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