Confluence Investment Management LLC Sells 30,097 Shares of T. Rowe Price Group, Inc. $TROW

Confluence Investment Management LLC lessened its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 943,672 shares of the asset manager’s stock after selling 30,097 shares during the period. T. Rowe Price Group makes up about 1.4% of Confluence Investment Management LLC’s holdings, making the stock its 27th biggest position. Confluence Investment Management LLC owned 0.43% of T. Rowe Price Group worth $96,613,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. TD Waterhouse Canada Inc. increased its holdings in shares of T. Rowe Price Group by 66.7% in the second quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock worth $25,000 after purchasing an additional 100 shares during the period. Root Financial Partners LLC purchased a new stake in shares of T. Rowe Price Group in the third quarter worth $30,000. Vermillion & White Wealth Management Group LLC boosted its stake in T. Rowe Price Group by 120.0% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock valued at $31,000 after buying an additional 174 shares during the period. Salomon & Ludwin LLC boosted its stake in T. Rowe Price Group by 84.3% during the third quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager’s stock valued at $33,000 after buying an additional 145 shares during the period. Finally, Quent Capital LLC purchased a new position in T. Rowe Price Group during the third quarter worth about $39,000. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. BMO Capital Markets decreased their price objective on shares of T. Rowe Price Group from $110.00 to $104.00 and set a “market perform” rating on the stock in a research report on Thursday, February 12th. Argus upgraded shares of T. Rowe Price Group to a “hold” rating in a research report on Thursday, February 5th. The Goldman Sachs Group decreased their price target on shares of T. Rowe Price Group from $95.00 to $90.00 and set a “sell” rating on the stock in a report on Thursday, February 5th. Bank of America raised their price objective on shares of T. Rowe Price Group from $85.00 to $86.00 in a research report on Wednesday, January 14th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of T. Rowe Price Group from $108.00 to $106.00 and set an “underweight” rating for the company in a report on Thursday, February 5th. Twelve investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, T. Rowe Price Group presently has a consensus rating of “Reduce” and an average price target of $101.69.

T. Rowe Price Group Price Performance

NASDAQ:TROW opened at $87.09 on Friday. The company has a market capitalization of $18.95 billion, a price-to-earnings ratio of 9.42, a PEG ratio of 3.66 and a beta of 1.54. The business has a 50 day moving average of $97.30 and a 200 day moving average of $101.63. T. Rowe Price Group, Inc. has a 1-year low of $77.85 and a 1-year high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Wednesday, February 4th. The asset manager reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.47 by ($0.03). The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.92 billion. T. Rowe Price Group had a return on equity of 20.29% and a net margin of 28.53%.The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.12 earnings per share. As a group, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 6.0%. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.27. The ex-dividend date of this dividend is Monday, March 16th. T. Rowe Price Group’s payout ratio is presently 56.22%.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.