Contravisory Investment Management Inc. Has $792,000 Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)


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Contravisory Investment Management Inc. boosted its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,618 shares of the asset manager’s stock after buying an additional 83 shares during the period. Contravisory Investment Management Inc.’s holdings in T. Rowe Price Group were worth $792,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. HM Payson & Co. boosted its stake in shares of T. Rowe Price Group by 5.5% during the 4th quarter. HM Payson & Co. now owns 1,115 shares of the asset manager’s stock worth $169,000 after acquiring an additional 58 shares in the last quarter. Curbstone Financial Management Corp boosted its stake in shares of T. Rowe Price Group by 0.9% during the 4th quarter. Curbstone Financial Management Corp now owns 7,306 shares of the asset manager’s stock worth $1,106,000 after acquiring an additional 66 shares in the last quarter. OLD National Bancorp IN boosted its stake in T. Rowe Price Group by 2.4% during the 4th quarter. OLD National Bancorp IN now owns 2,965 shares of the asset manager’s stock valued at $449,000 after purchasing an additional 69 shares during the period. D Orazio & Associates Inc. boosted its stake in T. Rowe Price Group by 25.7% during the 4th quarter. D Orazio & Associates Inc. now owns 377 shares of the asset manager’s stock valued at $57,000 after purchasing an additional 77 shares during the period. Finally, Cordatus Wealth Management LLC boosted its stake in T. Rowe Price Group by 0.7% during the 4th quarter. Cordatus Wealth Management LLC now owns 10,814 shares of the asset manager’s stock valued at $1,637,000 after purchasing an additional 78 shares during the period. 69.48% of the stock is currently owned by institutional investors.

NASDAQ:TROW opened at $177.35 on Friday. T. Rowe Price Group, Inc. has a 12-month low of $96.42 and a 12-month high of $183.05. The firm has a market capitalization of $40.43 billion, a P/E ratio of 19.86, a P/E/G ratio of 1.19 and a beta of 1.15. The stock’s fifty day simple moving average is $172.89 and its 200-day simple moving average is $154.42.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Thursday, January 28th. The asset manager reported $2.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.68 by $0.21. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.69 billion. T. Rowe Price Group had a return on equity of 30.52% and a net margin of 35.92%. The company’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.03 earnings per share. On average, sell-side analysts predict that T. Rowe Price Group, Inc. will post 9.23 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 30th. Shareholders of record on Tuesday, March 16th were paid a $1.08 dividend. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $0.90. The ex-dividend date was Monday, March 15th. This represents a $4.32 annualized dividend and a dividend yield of 2.44%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 53.53%.

Several research firms have commented on TROW. Barclays upped their price target on T. Rowe Price Group from $145.00 to $150.00 and gave the company an “underweight” rating in a report on Monday, January 25th. Credit Suisse Group cut T. Rowe Price Group from an “outperform” rating to a “neutral” rating and upped their price target for the company from $179.00 to $181.00 in a report on Tuesday, March 30th. They noted that the move was a valuation call. The Goldman Sachs Group raised T. Rowe Price Group from a “sell” rating to a “neutral” rating and upped their price target for the company from $134.00 to $170.00 in a report on Tuesday, January 5th. Wells Fargo & Company upped their price target on T. Rowe Price Group from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Morgan Stanley upped their price target on T. Rowe Price Group from $169.00 to $181.00 and gave the company an “equal weight” rating in a report on Wednesday. Three analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $158.50.

In related news, CEO William J. Stromberg sold 9,000 shares of T. Rowe Price Group stock in a transaction dated Thursday, March 11th. The stock was sold at an average price of $173.78, for a total value of $1,564,020.00. Also, President W. Sharps Robert sold 6,000 shares of T. Rowe Price Group stock in a transaction dated Monday, March 29th. The shares were sold at an average price of $176.75, for a total value of $1,060,500.00. Following the completion of the sale, the president now directly owns 472,138 shares in the company, valued at approximately $83,450,391.50. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

T. Rowe Price Group Company Profile

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

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