CIBC Asset Management Inc Cuts Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

CIBC Asset Management Inc lowered its position in T. Rowe Price Group, Inc. (NASDAQ:TROWFree Report) by 5.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,409 shares of the asset manager’s stock after selling 2,121 shares during the quarter. CIBC Asset Management Inc’s holdings in T. Rowe Price Group were worth $3,921,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV raised its position in shares of T. Rowe Price Group by 83.5% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock worth $25,000 after acquiring an additional 106 shares in the last quarter. First United Bank & Trust acquired a new stake in T. Rowe Price Group during the 4th quarter worth $31,000. Park Place Capital Corp lifted its position in T. Rowe Price Group by 1,775.0% in the fourth quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 284 shares during the last quarter. Fortitude Family Office LLC acquired a new position in T. Rowe Price Group in the fourth quarter valued at $33,000. Finally, NBC Securities Inc. purchased a new position in shares of T. Rowe Price Group during the third quarter worth about $39,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,043 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $113.08, for a total value of $344,102.44. Following the completion of the transaction, the director now directly owns 34,635 shares of the company’s stock, valued at $3,916,525.80. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on TROW shares. Morgan Stanley boosted their target price on T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a report on Wednesday, April 17th. TD Cowen upgraded shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and raised their target price for the stock from $92.00 to $114.00 in a research report on Monday, April 8th. JPMorgan Chase & Co. upped their price target on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a research report on Tuesday, April 16th. UBS Group raised their price objective on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a research report on Friday, April 12th. Finally, Keefe, Bruyette & Woods raised shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and upped their target price for the company from $106.00 to $120.00 in a report on Thursday, April 11th. Four analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $112.10.

Get Our Latest Analysis on T. Rowe Price Group

T. Rowe Price Group Stock Down 0.5 %

NASDAQ TROW opened at $116.23 on Friday. T. Rowe Price Group, Inc. has a 52-week low of $87.43 and a 52-week high of $132.76. The firm has a 50-day moving average price of $114.72 and a 200 day moving average price of $110.81. The stock has a market capitalization of $25.95 billion, a P/E ratio of 13.80, a P/E/G ratio of 2.00 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROWGet Free Report) last posted its quarterly earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.34. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.71 billion. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.69 earnings per share. On average, equities research analysts expect that T. Rowe Price Group, Inc. will post 8.8 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, June 14th will be issued a $1.24 dividend. The ex-dividend date is Friday, June 14th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.27%. T. Rowe Price Group’s dividend payout ratio is presently 58.91%.

T. Rowe Price Group Profile

(Free Report)

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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