Fenimore Asset Management Inc. reduced its position in T. Rowe Price Group Inc (NASDAQ:TROW) by 0.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 390,684 shares of the asset manager’s stock after selling 189 shares during the quarter. T. Rowe Price Group makes up about 1.5% of Fenimore Asset Management Inc.’s holdings, making the stock its 28th largest position. Fenimore Asset Management Inc. owned about 0.16% of T. Rowe Price Group worth $36,068,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. Highwater Wealth Management LLC purchased a new position in shares of T. Rowe Price Group in the fourth quarter valued at $64,000. IMS Capital Management purchased a new position in shares of T. Rowe Price Group in the third quarter valued at $134,000. Townsend & Associates Inc purchased a new position in shares of T. Rowe Price Group in the third quarter valued at $135,000. Focused Wealth Management Inc purchased a new position in shares of T. Rowe Price Group in the second quarter valued at $139,000. Finally, Ancora Advisors LLC purchased a new position in shares of T. Rowe Price Group in the third quarter valued at $171,000. 71.32% of the stock is owned by institutional investors and hedge funds.
Several research firms recently issued reports on TROW. Bank of America reissued a “buy” rating and set a $108.00 price objective (down previously from $125.00) on shares of T. Rowe Price Group in a research note on Thursday, December 6th. Zacks Investment Research lowered T. Rowe Price Group from a “buy” rating to a “hold” rating and set a $106.00 price objective for the company. in a research note on Saturday, November 17th. Deutsche Bank lifted their price objective on T. Rowe Price Group from $118.00 to $119.00 and gave the company a “hold” rating in a research note on Thursday, September 27th. Morgan Stanley dropped their price objective on T. Rowe Price Group from $105.00 to $98.00 and set an “equal weight” rating for the company in a research note on Friday, January 4th. Finally, Wells Fargo & Co dropped their price objective on T. Rowe Price Group from $115.00 to $106.00 and set a “market perform” rating for the company in a research note on Friday, October 26th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. T. Rowe Price Group currently has an average rating of “Hold” and an average price target of $105.40.
TROW stock traded down $1.86 during mid-day trading on Friday, hitting $90.43. 63,447 shares of the stock were exchanged, compared to its average volume of 1,565,345. T. Rowe Price Group Inc has a 12 month low of $84.59 and a 12 month high of $127.43. The firm has a market cap of $22.30 billion, a P/E ratio of 16.69, a price-to-earnings-growth ratio of 1.17 and a beta of 1.12.
T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Thursday, October 25th. The asset manager reported $2.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.93 by $0.37. T. Rowe Price Group had a return on equity of 29.52% and a net margin of 33.98%. The firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the previous year, the company posted $1.56 earnings per share. On average, equities analysts expect that T. Rowe Price Group Inc will post 7.38 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 28th. Shareholders of record on Friday, December 14th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.10%. The ex-dividend date was Thursday, December 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 51.57%.
In other T. Rowe Price Group news, VP Christopher D. Alderson sold 5,681 shares of T. Rowe Price Group stock in a transaction dated Monday, December 10th. The stock was sold at an average price of $92.22, for a total transaction of $523,901.82. Following the completion of the sale, the vice president now owns 118,818 shares of the company’s stock, valued at $10,957,395.96. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 3.10% of the company’s stock.
About T. Rowe Price Group
T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.
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