Union Bankshares Corp Buys 1,278 Shares of T. Rowe Price Group Inc. (TROW)
Union Bankshares Corp raised its position in T. Rowe Price Group Inc. (NASDAQ:TROW) by 2.7% during the third quarter, Holdings Channel reports. The fund owned 49,233 shares of the company’s stock after buying an additional 1,278 shares during the period. Union Bankshares Corp’s holdings in T. Rowe Price Group were worth $3,274,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. Quadrant Capital Group LLC raised its position in T. Rowe Price Group by 2.5% in the second quarter. Quadrant Capital Group LLC now owns 1,711 shares of the company’s stock worth $119,000 after buying an additional 42 shares during the last quarter. Euclid Advisors LLC acquired a new position in T. Rowe Price Group during the second quarter worth approximately $123,000. Societe Generale acquired a new position in T. Rowe Price Group during the second quarter worth approximately $126,000. WFG Advisors LP raised its position in T. Rowe Price Group by 22.2% in the second quarter. WFG Advisors LP now owns 1,870 shares of the company’s stock worth $136,000 after buying an additional 340 shares during the last quarter. Finally, Checchi Capital Advisers LLC increased its stake in T. Rowe Price Group by 0.9% in the second quarter. Checchi Capital Advisers LLC now owns 1,958 shares of the company’s stock worth $143,000 after buying an additional 18 shares during the period. Institutional investors and hedge funds own 69.82% of the company’s stock.
Shares of T. Rowe Price Group Inc. (NASDAQ:TROW) traded up 0.31% during mid-day trading on Tuesday, hitting $73.38. 1,079,629 shares of the company’s stock traded hands. The company has a market cap of $17.86 billion, a PE ratio of 16.56 and a beta of 1.21. The firm has a 50-day moving average of $67.91 and a 200 day moving average of $70.13. T. Rowe Price Group Inc. has a 52 week low of $62.97 and a 52 week high of $79.00.
T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Thursday, October 27th. The company reported $1.17 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.18 by $0.01. T. Rowe Price Group had a return on equity of 24.78% and a net margin of 26.71%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the previous year, the company earned $1.06 EPS. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. Equities research analysts predict that T. Rowe Price Group Inc. will post $4.38 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 29th. Shareholders of record on Thursday, December 15th will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.94%. T. Rowe Price Group’s payout ratio is presently 49.54%.
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A number of research firms recently weighed in on TROW. Keefe, Bruyette & Woods set a $72.00 target price on T. Rowe Price Group and gave the stock a “hold” rating in a research report on Saturday, October 15th. Zacks Investment Research raised T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Tuesday, October 25th. Deutsche Bank AG lifted their target price on T. Rowe Price Group from $71.00 to $74.00 and gave the stock a “hold” rating in a research report on Friday, September 9th. Barclays PLC decreased their target price on T. Rowe Price Group from $72.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 13th. Finally, UBS AG raised T. Rowe Price Group from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $66.00 to $82.00 in a research report on Thursday, November 10th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $75.00.
T. Rowe Price Group Company Profile
T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services to individual and institutional investors in the sponsored T. Rowe Price mutual funds distributed in the United States and other investment portfolios. It operates through investment advisory business segment.
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