Aurora Investment Counsel Takes $2.80 Million Position in T. Rowe Price Group Inc (TROW)
Aurora Investment Counsel acquired a new stake in T. Rowe Price Group Inc (NASDAQ:TROW) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 26,656 shares of the asset manager’s stock, valued at approximately $2,797,000. T. Rowe Price Group comprises 1.4% of Aurora Investment Counsel’s investment portfolio, making the stock its 10th largest position.
Other institutional investors have also recently bought and sold shares of the company. Bronfman E.L. Rothschild L.P. lifted its stake in T. Rowe Price Group by 6.9% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,593 shares of the asset manager’s stock valued at $118,000 after purchasing an additional 103 shares during the last quarter. Signature Estate & Investment Advisors LLC purchased a new position in T. Rowe Price Group in the third quarter valued at approximately $118,000. Grove Bank & Trust lifted its stake in T. Rowe Price Group by 178.7% in the third quarter. Grove Bank & Trust now owns 1,310 shares of the asset manager’s stock valued at $119,000 after purchasing an additional 840 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in T. Rowe Price Group by 5.4% in the second quarter. Quadrant Capital Group LLC now owns 1,749 shares of the asset manager’s stock valued at $121,000 after purchasing an additional 89 shares during the last quarter. Finally, Sun Life Financial INC lifted its stake in T. Rowe Price Group by 19,500.0% in the second quarter. Sun Life Financial INC now owns 1,764 shares of the asset manager’s stock valued at $131,000 after purchasing an additional 1,755 shares during the last quarter. Institutional investors and hedge funds own 72.13% of the company’s stock.
TROW has been the topic of several recent research reports. Jefferies Group restated a “buy” rating and set a $104.00 target price (up previously from $96.00) on shares of T. Rowe Price Group in a research report on Tuesday, October 10th. Zacks Investment Research downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Wednesday, September 13th. Barclays initiated coverage on T. Rowe Price Group in a research report on Friday, September 8th. They set an “underweight” rating and a $79.00 target price on the stock. Citigroup increased their target price 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. Finally, Goldman Sachs Group upgraded T. Rowe Price Group from a “neutral” rating to a “buy” rating and increased their target price for the stock from $85.00 to $100.00 in a research report on Thursday, September 28th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. T. Rowe Price Group has an average rating of “Hold” and an average price target of $91.89.
T. Rowe Price Group Inc (NASDAQ TROW) traded up $1.41 during trading on Thursday, hitting $104.49. 1,169,700 shares of the stock traded hands, compared to its average volume of 1,386,600. The company has a market capitalization of $25,580.00, a PE ratio of 17.10, a P/E/G ratio of 1.72 and a beta of 1.32. T. Rowe Price Group Inc has a 52-week low of $65.33 and a 52-week high of $106.10.
T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Thursday, October 26th. The asset manager reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.20. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.22 billion. T. Rowe Price Group had a net margin of 33.10% and a return on equity of 24.76%. The business’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.17 earnings per share. research analysts expect that T. Rowe Price Group Inc will post 5.29 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, December 28th. Stockholders of record on Thursday, December 14th were issued a $0.57 dividend. The ex-dividend date of this dividend was Wednesday, December 13th. This represents a $2.28 annualized dividend and a dividend yield of 2.18%. T. Rowe Price Group’s payout ratio is currently 37.32%.
In other news, CFO Kenneth V. Moreland sold 8,066 shares of the company’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $104.12, for a total value of $839,831.92. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Freeman A. Hrabowski III sold 4,000 shares of the stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $101.59, for a total value of $406,360.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 204,980 shares of company stock worth $20,776,729. Insiders own 3.60% of the company’s stock.
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About T. Rowe Price Group
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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