Sit Investment Associates Inc. Purchases 16,525 Shares of T. Rowe Price Group Inc (TROW)

Sit Investment Associates Inc. grew its position in shares of T. Rowe Price Group Inc (NASDAQ:TROW) by 9.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 196,800 shares of the asset manager’s stock after buying an additional 16,525 shares during the period. Sit Investment Associates Inc.’s holdings in T. Rowe Price Group were worth $20,650,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Signature Estate & Investment Advisors LLC purchased a new position in shares of T. Rowe Price Group during the 3rd quarter valued at $118,000. Grove Bank & Trust lifted its position in shares of T. Rowe Price Group by 178.7% during the 3rd quarter. Grove Bank & Trust now owns 1,310 shares of the asset manager’s stock valued at $119,000 after buying an additional 840 shares during the last quarter. Quadrant Capital Group LLC lifted its position in shares of T. Rowe Price Group by 5.4% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,749 shares of the asset manager’s stock valued at $121,000 after buying an additional 89 shares during the last quarter. Sun Life Financial INC lifted its position in shares of T. Rowe Price Group by 19,500.0% during the 2nd quarter. Sun Life Financial INC now owns 1,764 shares of the asset manager’s stock valued at $131,000 after buying an additional 1,755 shares during the last quarter. Finally, Mckinley Capital Management LLC Delaware purchased a new position in shares of T. Rowe Price Group during the 2nd quarter valued at $152,000. 72.38% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have recently commented on TROW. UBS Group raised T. Rowe Price Group from a “sell” rating to a “neutral” rating and upped their price target for the company from $75.00 to $110.00 in a research report on Tuesday. Bank of America raised T. Rowe Price Group from a “neutral” rating to a “buy” rating and upped their price target for the company from $113.00 to $125.00 in a research report on Monday. Zacks Investment Research upgraded T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $118.00 price objective on the stock in a research note on Wednesday, December 27th. Barclays boosted their price objective on T. Rowe Price Group from $79.00 to $84.00 and gave the company an “underweight” rating in a research note on Friday, October 27th. Finally, Citigroup boosted their price objective on T. Rowe Price Group from $94.00 to $95.00 and gave the company a “neutral” rating in a research note on Friday, October 27th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $98.70.

Shares of T. Rowe Price Group Inc (TROW) traded up $1.87 during midday trading on Wednesday, reaching $111.75. The company’s stock had a trading volume of 1,333,200 shares, compared to its average volume of 1,271,433. The company has a market cap of $27,180.00, a price-to-earnings ratio of 18.29, a P/E/G ratio of 1.73 and a beta of 1.32. T. Rowe Price Group Inc has a fifty-two week low of $65.33 and a fifty-two week high of $112.17.

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

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 28th. Shareholders of record on Thursday, December 14th were paid a $0.57 dividend. The ex-dividend date was Wednesday, December 13th. This represents a $2.28 dividend on an annualized basis and a yield of 2.04%. T. Rowe Price Group’s dividend payout ratio is currently 37.32%.

In other T. Rowe Price Group news, CFO Kenneth V. Moreland sold 14,419 shares of the company’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $97.07, for a total value of $1,399,652.33. Following the transaction, the chief financial officer now directly owns 125,264 shares in the company, valued at approximately $12,159,376.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 disclosure for this sale can be found here. Insiders sold a total of 204,980 shares of company stock worth $20,776,729 over the last 90 days. Corporate insiders own 3.60% of the company’s stock.

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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.

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

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