Synovus Financial Corp Has $323,000 Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Synovus Financial Corp raised its position in T. Rowe Price Group, Inc. (NASDAQ:TROWGet Rating) by 11.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 2,845 shares of the asset manager’s stock after purchasing an additional 299 shares during the quarter. Synovus Financial Corp’s holdings in T. Rowe Price Group were worth $323,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Trust Asset Management LLC boosted its position in T. Rowe Price Group by 6.0% in the second quarter. Trust Asset Management LLC now owns 2,418 shares of the asset manager’s stock valued at $275,000 after buying an additional 136 shares in the last quarter. Mackenzie Financial Corp boosted its position in T. Rowe Price Group by 6.6% in the second quarter. Mackenzie Financial Corp now owns 29,812 shares of the asset manager’s stock valued at $3,387,000 after buying an additional 1,841 shares in the last quarter. Boston Common Asset Management LLC boosted its position in T. Rowe Price Group by 1.1% in the second quarter. Boston Common Asset Management LLC now owns 71,400 shares of the asset manager’s stock valued at $8,112,000 after buying an additional 782 shares in the last quarter. MTM Investment Management LLC boosted its position in T. Rowe Price Group by 5.5% in the second quarter. MTM Investment Management LLC now owns 2,112 shares of the asset manager’s stock valued at $244,000 after buying an additional 110 shares in the last quarter. Finally, Vicus Capital acquired a new position in T. Rowe Price Group in the second quarter valued at about $306,000. 74.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, insider William J. Stromberg sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $124.15, for a total value of $1,241,500.00. Following the completion of the sale, the insider now owns 41,000 shares of the company’s stock, valued at $5,090,150. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Price Performance

TROW opened at $122.07 on Monday. The company has a market cap of $27.28 billion, a price-to-earnings ratio of 14.01, a price-to-earnings-growth ratio of 3.14 and a beta of 1.25. The firm has a 50 day simple moving average of $109.84 and a 200 day simple moving average of $116.87. T. Rowe Price Group, Inc. has a fifty-two week low of $93.53 and a fifty-two week high of $212.90.

T. Rowe Price Group (NASDAQ:TROWGet Rating) last posted its quarterly earnings results on Thursday, October 27th. The asset manager reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.03. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.53 billion. T. Rowe Price Group had a net margin of 29.35% and a return on equity of 23.88%. T. Rowe Price Group’s revenue for the quarter was down 18.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.27 earnings per share. As a group, analysts expect that T. Rowe Price Group, Inc. will post 7.9 EPS for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 29th. Investors of record on Friday, December 16th will be paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date of this dividend is Thursday, December 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is 55.11%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on TROW shares. BMO Capital Markets reduced their price target on shares of T. Rowe Price Group from $135.00 to $115.00 in a research report on Monday, August 1st. StockNews.com assumed coverage on shares of T. Rowe Price Group in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Credit Suisse Group assumed coverage on shares of T. Rowe Price Group in a research report on Wednesday, October 19th. They set an “underperform” rating and a $70.00 target price on the stock. JPMorgan Chase & Co. upped their target price on shares of T. Rowe Price Group from $90.00 to $93.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 18th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of T. Rowe Price Group from $97.00 to $123.00 and gave the stock a “hold” rating in a research report on Tuesday, November 15th. Six research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat.com, T. Rowe Price Group currently has an average rating of “Reduce” and an average target price of $114.30.

About T. Rowe Price Group

(Get Rating)

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.

Further Reading

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:TROWGet Rating).

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

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