Allstate Corp Purchases 6,095 Shares of T. Rowe Price Group, Inc. $TROW

Allstate Corp boosted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 82.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 13,522 shares of the asset manager’s stock after buying an additional 6,095 shares during the quarter. Allstate Corp’s holdings in T. Rowe Price Group were worth $1,384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the stock. Clearstead Advisors LLC grew its holdings in T. Rowe Price Group by 1.7% during the 4th quarter. Clearstead Advisors LLC now owns 11,063 shares of the asset manager’s stock worth $1,133,000 after acquiring an additional 186 shares during the last quarter. New Age Alpha Advisors LLC boosted its stake in T. Rowe Price Group by 3.0% during the 4th quarter. New Age Alpha Advisors LLC now owns 27,798 shares of the asset manager’s stock worth $2,846,000 after acquiring an additional 798 shares during the last quarter. Hantz Financial Services Inc. raised its holdings in T. Rowe Price Group by 70.3% during the 4th quarter. Hantz Financial Services Inc. now owns 1,340 shares of the asset manager’s stock worth $137,000 after buying an additional 553 shares during the period. Swedbank AB raised its holdings in T. Rowe Price Group by 0.5% during the 4th quarter. Swedbank AB now owns 42,592 shares of the asset manager’s stock worth $4,361,000 after buying an additional 213 shares during the period. Finally, Jefferies Financial Group Inc. raised its holdings in shares of T. Rowe Price Group by 199.7% in the fourth quarter. Jefferies Financial Group Inc. now owns 87,344 shares of the asset manager’s stock valued at $8,942,000 after purchasing an additional 58,196 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Stock Up 0.9%

TROW opened at $104.53 on Friday. T. Rowe Price Group, Inc. has a twelve month low of $85.22 and a twelve month high of $118.22. The company has a 50-day simple moving average of $97.35 and a 200 day simple moving average of $99.25. The stock has a market capitalization of $22.40 billion, a price-to-earnings ratio of 11.20, a P/E/G ratio of 5.30 and a beta of 1.51.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.37 by $0.15. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.85 billion. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. T. Rowe Price Group’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.23 earnings per share. Sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.63 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $5.20 annualized dividend and a yield of 5.0%. T. Rowe Price Group’s payout ratio is presently 55.73%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on TROW shares. Weiss Ratings reissued a “hold (c)” rating on shares of T. Rowe Price Group in a research note on Friday, May 8th. BMO Capital Markets raised their target price on shares of T. Rowe Price Group from $98.00 to $110.00 and gave the company a “market perform” rating in a research note on Monday, May 4th. Keefe, Bruyette & Woods raised their target price on shares of T. Rowe Price Group from $95.00 to $107.00 and gave the company a “market perform” rating in a research note on Friday, May 1st. Morgan Stanley set a $105.00 target price on shares of T. Rowe Price Group in a research note on Monday, April 27th. Finally, TD Cowen raised their target price on shares of T. Rowe Price Group from $93.00 to $94.00 and gave the company a “hold” rating in a research note on Friday, May 1st. Eleven research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $99.54.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total transaction of $307,680.00. Following the completion of the transaction, the vice president owned 83,883 shares of the company’s stock, valued at approximately $8,603,040.48. The trade was a 3.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.60% of the company’s stock.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.