Bard Financial Services Inc. Trims Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Bard Financial Services Inc. reduced its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROWFree Report) by 9.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,575 shares of the asset manager’s stock after selling 500 shares during the quarter. Bard Financial Services Inc.’s holdings in T. Rowe Price Group were worth $493,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC lifted its position in T. Rowe Price Group by 8,968.6% during the fourth quarter. International Assets Investment Management LLC now owns 902,146 shares of the asset manager’s stock valued at $97,152,000 after buying an additional 892,198 shares in the last quarter. UBS Group AG boosted its position in T. Rowe Price Group by 473.3% during the 4th quarter. UBS Group AG now owns 975,226 shares of the asset manager’s stock worth $105,022,000 after purchasing an additional 805,106 shares during the period. Norges Bank acquired a new stake in T. Rowe Price Group in the 4th quarter valued at $80,831,000. Dimensional Fund Advisors LP raised its position in T. Rowe Price Group by 21.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,352,683 shares of the asset manager’s stock valued at $145,685,000 after purchasing an additional 236,697 shares during the period. Finally, Qube Research & Technologies Ltd acquired a new position in shares of T. Rowe Price Group during the third quarter worth about $21,114,000. 73.39% of the stock is owned by institutional investors and hedge funds.

Insider Activity at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,043 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $113.08, for a total value of $344,102.44. Following the completion of the sale, the director now directly owns 34,635 shares of the company’s stock, valued at approximately $3,916,525.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,043 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $113.08, for a total value of $344,102.44. Following the sale, the director now directly owns 34,635 shares in the company, valued at $3,916,525.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the sale, the director now directly owns 21,073 shares of the company’s stock, valued at $2,493,357.36. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

TROW has been the topic of several recent research reports. Keefe, Bruyette & Woods raised T. Rowe Price Group from an “underperform” rating to a “market perform” rating and boosted their price target for the stock from $106.00 to $120.00 in a research report on Thursday, April 11th. TD Cowen upgraded shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and upped their target price for the company from $92.00 to $114.00 in a research note on Monday, April 8th. JPMorgan Chase & Co. boosted their price objective on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. Citigroup raised their target price on T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Finally, Wells Fargo & Company boosted their price target on T. Rowe Price Group from $105.00 to $108.00 and gave the stock an “underweight” rating in a research note on Friday, February 9th. Four investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $112.10.

Read Our Latest Analysis on TROW

T. Rowe Price Group Price Performance

Shares of TROW stock traded up $0.31 during trading hours on Tuesday, reaching $117.44. The stock had a trading volume of 411,177 shares, compared to its average volume of 1,414,905. The firm has a market capitalization of $26.22 billion, a PE ratio of 13.91, a price-to-earnings-growth ratio of 2.00 and a beta of 1.40. The firm has a 50-day simple moving average of $114.94 and a 200-day simple moving average of $109.05. T. Rowe Price Group, Inc. has a twelve month low of $87.43 and a twelve month high of $132.76.

T. Rowe Price Group (NASDAQ:TROWGet Free Report) last released its quarterly earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.34. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the company posted $1.69 earnings per share. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. On average, equities analysts anticipate that T. Rowe Price Group, Inc. will post 8.8 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Friday, June 14th will be issued a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.22%. The ex-dividend date of this dividend is Friday, June 14th. T. Rowe Price Group’s payout ratio is currently 58.91%.

About T. Rowe Price Group

(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.

Further Reading

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

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