Sun Life Financial INC Grows Holdings in T. Rowe Price Group, Inc. (TROW)
Sun Life Financial INC raised its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 215.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,571 shares of the asset manager’s stock after buying an additional 3,807 shares during the quarter. Sun Life Financial INC’s holdings in T. Rowe Price Group were worth $505,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Alpha Cubed Investments LLC acquired a new position in T. Rowe Price Group in the 3rd quarter valued at approximately $256,000. Reliance Trust Co. of Delaware bought a new stake in T. Rowe Price Group in the third quarter worth approximately $304,000. JPMorgan Chase & Co. grew its position in T. Rowe Price Group by 1.3% in the second quarter. JPMorgan Chase & Co. now owns 11,756,348 shares of the asset manager’s stock worth $872,439,000 after acquiring an additional 156,326 shares in the last quarter. Ffcm LLC grew its position in T. Rowe Price Group by 6.4% in the second quarter. Ffcm LLC now owns 37,660 shares of the asset manager’s stock worth $2,795,000 after acquiring an additional 2,261 shares in the last quarter. Finally, OLD Point Trust & Financial Services N A grew its position in T. Rowe Price Group by 11.6% in the third quarter. OLD Point Trust & Financial Services N A now owns 15,334 shares of the asset manager’s stock worth $1,390,000 after acquiring an additional 1,600 shares in the last quarter. Hedge funds and other institutional investors own 72.19% of the company’s stock.
In other T. Rowe Price Group news, Director Anne M. Whittemore sold 4,163 shares of the stock in a transaction on Friday, September 29th. The shares were sold at an average price of $90.64, for a total value of $377,334.32. Following the completion of the sale, the director now directly owns 29,070 shares of the company’s stock, valued at approximately $2,634,904.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP W. Sharps Robert sold 5,000 shares of the stock in a transaction on Monday, November 27th. The shares were sold at an average price of $98.64, for a total transaction of $493,200.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 81,705 shares of company stock valued at $7,861,938. Insiders own 3.60% of the company’s stock.
Several analysts have commented on the stock. BidaskClub raised shares of T. Rowe Price Group from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 14th. Zacks Investment Research raised shares of T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $98.00 target price for the company in a research report on Tuesday, September 26th. Jefferies Group reissued a “buy” rating and issued a $96.00 target price on shares of T. Rowe Price Group in a research report on Sunday, August 20th. Goldman Sachs Group raised shares of T. Rowe Price Group from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $85.00 to $100.00 in a research report on Thursday, September 28th. Finally, Barclays assumed coverage on shares of T. Rowe Price Group in a report on Friday, September 8th. They set an “underweight” rating and a $79.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $89.50.
T. Rowe Price Group, Inc. (TROW) traded up $1.65 during midday trading on Friday, hitting $102.92. 2,750,000 shares of the company traded hands, compared to its average volume of 1,667,055. The company has a market cap of $24,800.00, a P/E ratio of 19.48, a P/E/G ratio of 1.83 and a beta of 1.28. T. Rowe Price Group, Inc. has a fifty-two week low of $65.33 and a fifty-two week high of $103.85.
T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Thursday, October 26th. The asset manager reported $1.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.36 by $0.20. T. Rowe Price Group had a net margin of 33.10% and a return on equity of 24.76%. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the prior year, the firm earned $1.17 EPS. T. Rowe Price Group’s quarterly revenue was up 11.8% compared to the same quarter last year. equities research analysts anticipate that T. Rowe Price Group, Inc. will post 5.29 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Thursday, December 14th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date is Wednesday, December 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 37.32%.
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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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