Cullinan Associates Inc. increased its position in T. Rowe Price Group Inc (NASDAQ:TROW) by 10.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,785 shares of the asset manager’s stock after purchasing an additional 4,555 shares during the quarter. Cullinan Associates Inc.’s holdings in T. Rowe Price Group were worth $4,909,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in TROW. Riverhead Capital Management LLC increased its position in T. Rowe Price Group by 5.8% in the second quarter. Riverhead Capital Management LLC now owns 4,907 shares of the asset manager’s stock worth $364,000 after purchasing an additional 271 shares during the period. Norinchukin Bank The increased its position in T. Rowe Price Group by 11.4% in the second quarter. Norinchukin Bank The now owns 9,527 shares of the asset manager’s stock worth $707,000 after purchasing an additional 972 shares during the period. Nationwide Fund Advisors increased its position in T. Rowe Price Group by 22.0% in the second quarter. Nationwide Fund Advisors now owns 141,992 shares of the asset manager’s stock worth $10,537,000 after purchasing an additional 25,566 shares during the period. Amalgamated Bank increased its position in T. Rowe Price Group by 47.7% in the second quarter. Amalgamated Bank now owns 26,693 shares of the asset manager’s stock worth $1,981,000 after purchasing an additional 8,616 shares during the period. Finally, Laurion Capital Management LP acquired a new stake in T. Rowe Price Group in the second quarter worth about $445,000. Hedge funds and other institutional investors own 72.33% of the company’s stock.

T. Rowe Price Group Inc (NASDAQ TROW) traded up $1.91 during trading on Wednesday, hitting $116.38. The stock had a trading volume of 1,590,059 shares, compared to its average volume of 1,394,282. The firm has a market cap of $28,200.00, a price-to-earnings ratio of 19.05, a P/E/G ratio of 1.60 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 $117.64.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Thursday, October 26th. The asset manager reported $1.56 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.36 by $0.20. T. Rowe Price Group had a return on equity of 24.76% and a net margin of 33.10%. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same period in the previous 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. sell-side analysts anticipate that T. Rowe Price Group Inc will post 5.32 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 28th. Investors of record on Thursday, December 14th were given a $0.57 dividend. The ex-dividend date was Wednesday, December 13th. This represents a $2.28 annualized dividend and a dividend yield of 1.96%. T. Rowe Price Group’s dividend payout ratio is presently 37.32%.

In related news, CEO William J. Stromberg sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $97.09, for a total value of $2,912,700.00. Following the completion of the transaction, the chief executive officer now directly owns 534,077 shares in the company, valued at approximately $51,853,535.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christopher D. Alderson sold 6,808 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $102.83, for a total value of $700,066.64. Following the completion of the transaction, the vice president now owns 119,846 shares of the company’s stock, valued at $12,323,764.18. The disclosure for this sale can be found here. Insiders sold a total of 204,980 shares of company stock valued at $20,776,729 over the last quarter. 3.60% of the stock is owned by insiders.

A number of analysts recently commented on the company. Zacks Investment Research lowered T. Rowe Price Group from a “buy” rating to a “hold” rating and set a $115.00 price objective for the company. in a research report on Friday, January 5th. UBS Group upgraded T. Rowe Price Group from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $75.00 to $110.00 in a research report on Tuesday, January 9th. Bank of America upgraded T. Rowe Price Group from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $113.00 to $125.00 in a research report on Monday, January 8th. Goldman Sachs Group upgraded T. Rowe Price Group from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $85.00 to $100.00 in a research report on Thursday, September 28th. Finally, Morgan Stanley upgraded T. Rowe Price Group from an “underweight” rating to an “equal” rating and lifted their price objective for the stock from $77.00 to $93.00 in a research report on Thursday, October 5th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. T. Rowe Price Group presently has an average rating of “Hold” and an average target price of $98.70.

WARNING: “Cullinan Associates Inc. Increases Position in T. Rowe Price Group Inc (TROW)” was first reported by Daily Political and is owned by of Daily Political. If you are accessing this article on another website, it was copied illegally and reposted in violation of United States and international copyright and trademark law. The original version of this article can be viewed at https://www.dailypolitical.com/2018/01/17/cullinan-associates-inc-increases-position-in-t-rowe-price-group-inc-trow.html.

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.

Want to see what other hedge funds are holding TROW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for T. Rowe Price Group Inc (NASDAQ:TROW).

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

Receive News & Ratings for T. Rowe Price Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for T. Rowe Price Group and related companies with MarketBeat.com's FREE daily email newsletter.