Ally Financial Inc. Holds Position in T. Rowe Price Group, Inc. (TROW)
Ally Financial Inc. held its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,000 shares of the asset manager’s stock at the close of the second quarter. Ally Financial Inc.’s holdings in T. Rowe Price Group were worth $2,597,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of TROW. Bronfman E.L. Rothschild L.P. increased its holdings in shares of T. Rowe Price Group by 6.9% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,593 shares of the asset manager’s stock worth $118,000 after acquiring an additional 103 shares during the last quarter. Mosaic Family Wealth LLC grew its holdings in T. Rowe Price Group by 4.5% in the 1st quarter. Mosaic Family Wealth LLC now owns 1,967 shares of the asset manager’s stock valued at $134,000 after buying an additional 85 shares in the last quarter. FNY Partners Fund LP acquired a new position in T. Rowe Price Group in the 1st quarter valued at $147,000. Benjamin F. Edwards & Company Inc. grew its holdings in T. Rowe Price Group by 103.0% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,119 shares of the asset manager’s stock valued at $157,000 after buying an additional 1,075 shares in the last quarter. Finally, TCI Wealth Advisors Inc. grew its holdings in T. Rowe Price Group by 5.6% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 2,535 shares of the asset manager’s stock valued at $188,000 after buying an additional 135 shares in the last quarter. 73.62% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have commented on the company. Zacks Investment Research lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Wednesday, September 13th. Barclays PLC assumed coverage on T. Rowe Price Group in a report on Friday, September 8th. They issued an “underweight” rating and a $79.00 price objective on the stock. Jefferies Group LLC reaffirmed a “buy” rating and issued a $96.00 price objective on shares of T. Rowe Price Group in a report on Sunday, August 20th. BidaskClub raised T. Rowe Price Group from a “buy” rating to a “strong-buy” rating in a report on Monday, August 14th. Finally, ValuEngine raised T. Rowe Price Group from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $81.30.
T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Tuesday, July 25th. The asset manager reported $1.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.01. T. Rowe Price Group had a return on equity of 24.38% and a net margin of 32.64%. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the business earned $0.76 earnings per share. The firm’s revenue was up 12.1% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Thursday, September 14th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend is Wednesday, September 13th. T. Rowe Price Group’s payout ratio is 39.18%.
In related news, Director Anne M. Whittemore sold 8,326 shares of the business’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $82.03, for a total transaction of $682,981.78. Following the completion of the transaction, the director now directly owns 28,982 shares in the company, valued at $2,377,393.46. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jessica M. Hiebler sold 1,000 shares of the business’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $84.29, for a total value of $84,290.00. Following the transaction, the insider now owns 8,461 shares of the company’s stock, valued at $713,177.69. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,720 shares of company stock valued at $1,630,701. 3.60% of the stock is owned by company insiders.
T. Rowe Price Group Company 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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