National Bank of Canada FI Has $15.79 Million Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

National Bank of Canada FI trimmed its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 11.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 147,567 shares of the asset manager’s stock after selling 18,713 shares during the quarter. National Bank of Canada FI’s holdings in T. Rowe Price Group were worth $15,788,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. OFI Invest Asset Management bought a new position in shares of T. Rowe Price Group during the third quarter valued at about $25,000. Creative Financial Designs Inc. ADV grew its position in T. Rowe Price Group by 83.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock worth $25,000 after purchasing an additional 106 shares in the last quarter. Park Place Capital Corp increased its stake in T. Rowe Price Group by 1,775.0% in the 4th quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock valued at $32,000 after buying an additional 284 shares during the last quarter. Fortitude Family Office LLC bought a new position in shares of T. Rowe Price Group during the 4th quarter worth approximately $33,000. Finally, NBC Securities Inc. purchased a new position in shares of T. Rowe Price Group in the 3rd quarter worth approximately $39,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $111.25 on Wednesday. The stock’s 50-day moving average is $115.24 and its 200 day moving average is $107.68. T. Rowe Price Group, Inc. has a 1 year low of $87.43 and a 1 year high of $132.76. The company has a market cap of $24.84 billion, a PE ratio of 13.21, a P/E/G ratio of 1.93 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 29.09% and a return on equity of 19.70%. The business’s revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.69 earnings per share. Analysts expect that T. Rowe Price Group, Inc. will post 8.75 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, June 14th will be issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 4.46%. T. Rowe Price Group’s payout ratio is 58.91%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TROW. Citigroup raised their target price on T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. JPMorgan Chase & Co. increased their price target on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. Morgan Stanley boosted their target price on T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 17th. Keefe, Bruyette & Woods upgraded shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and raised their price objective for the company from $106.00 to $120.00 in a research report on Thursday, April 11th. Finally, UBS Group upped their target price on T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a research note on Friday, April 12th. Four analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $112.10.

Insider Activity

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,043 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $113.08, for a total transaction of $344,102.44. Following the completion of the sale, 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 can be accessed through this link. In other news, insider Jessica M. Hiebler sold 1,138 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $107.13, for a total value of $121,913.94. Following the transaction, the insider now owns 14,113 shares of the company’s stock, valued at $1,511,925.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $344,102.44. Following the transaction, the director now directly owns 34,635 shares of the company’s stock, valued at approximately $3,916,525.80. The disclosure for this sale can be found here. Insiders have sold 12,921 shares of company stock valued at $1,500,133 in the last ninety days. 2.00% of the stock is currently owned by company insiders.

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.