Trade Report: Today, BB&T Corp Sold shares of T. Rowe Price Group Inc. (TROW)

Today, BB&T Corp Sold shares of T. Rowe Price Group Inc. (TROW)

BB&T Corp reduced its position in T. Rowe Price Group Inc. (NASDAQ:TROW) by 33.6% during the third quarter, Holdings Channel reports. The firm owned 7,760 shares of the company’s stock after selling 3,919 shares during the period. BB&T Corp’s holdings in T. Rowe Price Group were worth $516,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of TROW. Fenimore Asset Management Inc. increased its stake in T. Rowe Price Group by 11.0% in the third quarter. Fenimore Asset Management Inc. now owns 491,250 shares of the company’s stock worth $32,668,000 after buying an additional 48,575 shares during the period. Schroder Investment Management Group increased its stake in T. Rowe Price Group by 28.6% in the second quarter. Schroder Investment Management Group now owns 1,023,736 shares of the company’s stock worth $74,702,000 after buying an additional 227,458 shares during the period. Dean Investment Associates LLC increased its stake in T. Rowe Price Group by 94.3% in the second quarter. Dean Investment Associates LLC now owns 17,555 shares of the company’s stock worth $1,281,000 after buying an additional 8,521 shares during the period. BlackRock Advisors LLC increased its stake in T. Rowe Price Group by 1.9% in the second quarter. BlackRock Advisors LLC now owns 247,307 shares of the company’s stock worth $18,046,000 after buying an additional 4,571 shares during the period. Finally, First Manhattan Co. increased its stake in T. Rowe Price Group by 219.9% in the second quarter. First Manhattan Co. now owns 110,673 shares of the company’s stock worth $8,075,000 after buying an additional 76,073 shares during the period. 71.44% of the stock is owned by institutional investors and hedge funds.

Shares of T. Rowe Price Group Inc. (NASDAQ:TROW) opened at 74.43 on Friday. The stock has a market cap of $18.12 billion, a PE ratio of 16.79 and a beta of 1.21. T. Rowe Price Group Inc. has a 52 week low of $62.97 and a 52 week high of $79.00. The firm has a 50-day moving average of $67.72 and a 200 day moving average of $70.23.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Thursday, October 27th. The company reported $1.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.18 by $0.01. The business earned $1.10 billion during the quarter, compared to analyst estimates of $1.08 billion. T. Rowe Price Group had a return on equity of 24.78% and a net margin of 26.71%. The firm’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.06 EPS. On average, equities analysts forecast that T. Rowe Price Group Inc. will post $4.38 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 29th. Stockholders of record on Thursday, December 15th will be paid a $0.54 dividend. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.90%. T. Rowe Price Group’s payout ratio is currently 49.54%.

TROW has been the subject of a number of recent research reports. Zacks Investment Research raised shares of T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Tuesday, October 25th. Jefferies Group cut their price objective on shares of T. Rowe Price Group from $83.00 to $80.00 and set a “buy” rating for the company in a research report on Tuesday, October 11th. Citigroup Inc. reissued a “neutral” rating on shares of T. Rowe Price Group in a research report on Sunday, October 30th. UBS AG raised shares of T. Rowe Price Group from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $66.00 to $82.00 in a research report on Thursday, November 10th. Finally, Barclays PLC cut their price objective on shares of T. Rowe Price Group from $72.00 to $68.00 and set an “equal weight” rating for the company in a research report on Thursday, October 13th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. T. Rowe Price Group currently has a consensus rating of “Hold” and a consensus target price of $75.00.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services to individual and institutional investors in the sponsored T. Rowe Price mutual funds distributed in the United States and other investment portfolios. It operates through investment advisory business segment.

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