T. Rowe Price Group, Inc. (TROW) Position Boosted by Cornerstone Capital Management Holdings LLC.

Cornerstone Capital Management Holdings LLC. boosted its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 80.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 117,239 shares of the asset manager’s stock after acquiring an additional 52,406 shares during the quarter. Cornerstone Capital Management Holdings LLC.’s holdings in T. Rowe Price Group were worth $10,626,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital World Investors raised its position in T. Rowe Price Group by 235.0% during the 2nd quarter. Capital World Investors now owns 10,512,236 shares of the asset manager’s stock valued at $780,113,000 after purchasing an additional 7,373,953 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of T. Rowe Price Group by 526.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,774,796 shares of the asset manager’s stock worth $131,707,000 after acquiring an additional 1,491,425 shares in the last quarter. American Century Companies Inc. raised its position in shares of T. Rowe Price Group by 66.4% in the 2nd quarter. American Century Companies Inc. now owns 2,544,655 shares of the asset manager’s stock worth $188,839,000 after acquiring an additional 1,015,518 shares in the last quarter. Bahl & Gaynor Inc. raised its position in shares of T. Rowe Price Group by 65.5% in the 2nd quarter. Bahl & Gaynor Inc. now owns 1,225,132 shares of the asset manager’s stock worth $92,203,000 after acquiring an additional 484,994 shares in the last quarter. Finally, Obermeyer Wood Investment Counsel Lllp bought a new position in shares of T. Rowe Price Group in the 2nd quarter worth $33,260,000. Institutional investors own 72.21% of the company’s stock.

In related news, VP W. Sharps Robert sold 5,000 shares of the company’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $98.64, for a total value of $493,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anne M. Whittemore sold 4,163 shares of the company’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $90.64, for a total value of $377,334.32. Following the completion of the transaction, the director now directly owns 29,070 shares of the company’s stock, valued at approximately $2,634,904.80. The disclosure for this sale can be found here. Insiders sold 81,705 shares of company stock worth $7,861,938 in the last 90 days. Company insiders own 3.60% of the company’s stock.

TROW has been the subject of several recent research reports. Jefferies Group reissued a “buy” rating and issued a $104.00 price target (up from $96.00) on shares of T. Rowe Price Group in a research report on Tuesday, October 10th. Citigroup boosted their price target on T. Rowe Price Group from $94.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. UBS boosted their price target on T. Rowe Price Group from $69.00 to $72.00 and gave the stock a “sell” rating in a research report on Friday, October 27th. Barclays boosted their price target on T. Rowe Price Group from $79.00 to $84.00 and gave the stock an “underweight” rating in a research report on Friday, October 27th. Finally, Morgan Stanley raised T. Rowe Price Group from an “underweight” rating to an “equal” rating and boosted their price target for the stock from $77.00 to $93.00 in a research report on Thursday, October 5th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $89.67.

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) opened at $101.85 on Tuesday. The firm has a market capitalization of $24,897.35, a PE ratio of 20.07, a price-to-earnings-growth ratio of 1.89 and a beta of 1.32. T. Rowe Price Group, Inc. has a one year low of $65.33 and a one year high of $104.40.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Thursday, October 26th. The asset manager reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.20. T. Rowe Price Group had a return on equity of 24.76% and a net margin of 33.10%. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the prior year, the business earned $1.17 earnings per share. The company’s revenue was up 11.8% compared to the same quarter last year. analysts expect that T. Rowe Price Group, Inc. will post 5.29 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, December 14th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Wednesday, December 13th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.24%. T. Rowe Price Group’s payout ratio is 37.38%.

COPYRIGHT VIOLATION WARNING: “T. Rowe Price Group, Inc. (TROW) Position Boosted by Cornerstone Capital Management Holdings LLC.” was posted by Transcript Daily and is owned by of Transcript Daily. If you are accessing this piece of content on another publication, it was copied illegally and republished in violation of US and international trademark and copyright laws. The legal version of this piece of content can be viewed at https://transcriptdaily.com/2017/12/12/t-rowe-price-group-inc-trow-position-boosted-by-cornerstone-capital-management-holdings-llc.html.

T. Rowe Price Group Profile

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.

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

Receive News & Ratings for T. Rowe Price Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for T. Rowe Price Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply