T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC lessened its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 22.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,948 shares of the asset manager’s stock after selling 12,393 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in T. Rowe Price Group were worth $4,733,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of TROW. Glenview Trust co boosted its position in T. Rowe Price Group by 2.2% during the fourth quarter. Glenview Trust co now owns 4,318 shares of the asset manager’s stock worth $488,000 after acquiring an additional 92 shares during the last quarter. MCF Advisors LLC boosted its holdings in shares of T. Rowe Price Group by 1.5% during the 4th quarter. MCF Advisors LLC now owns 6,226 shares of the asset manager’s stock worth $704,000 after purchasing an additional 93 shares during the last quarter. Addison Advisors LLC grew its position in shares of T. Rowe Price Group by 67.4% in the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 93 shares in the last quarter. Brooklyn Investment Group increased its holdings in shares of T. Rowe Price Group by 24.6% in the fourth quarter. Brooklyn Investment Group now owns 497 shares of the asset manager’s stock valued at $56,000 after purchasing an additional 98 shares during the last quarter. Finally, Advantage Trust Co lifted its position in T. Rowe Price Group by 48.8% during the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock worth $34,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Up 0.4 %

Shares of T. Rowe Price Group stock opened at $92.27 on Wednesday. T. Rowe Price Group, Inc. has a 52-week low of $89.70 and a 52-week high of $125.81. The company has a market capitalization of $20.51 billion, a P/E ratio of 10.07, a P/E/G ratio of 2.86 and a beta of 1.46. The company has a 50 day moving average of $103.75 and a 200 day moving average of $110.74.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same quarter in the previous year, the firm earned $1.72 EPS. As a group, research analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $1.27 per share. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 annualized dividend and a dividend yield of 5.51%. The ex-dividend date was Friday, March 14th. T. Rowe Price Group’s dividend payout ratio is currently 55.46%.

Insider Activity

In other news, Director Robert F. Maclellan sold 3,955 shares of the company’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $91.56, for a total value of $362,119.80. Following the completion of the transaction, the director now owns 42,979 shares in the company, valued at approximately $3,935,157.24. This represents a 8.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Arif Husain sold 4,112 shares of T. Rowe Price Group stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total transaction of $449,318.24. Following the sale, the vice president now owns 36,800 shares in the company, valued at $4,021,136. This represents a 10.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

TROW has been the topic of several recent analyst reports. Wells Fargo & Company decreased their price target on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Citigroup reduced their price target on shares of T. Rowe Price Group from $120.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday. Morgan Stanley lowered their price objective on shares of T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a research report on Monday, February 24th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $113.00 target price (up previously from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $111.82.

T. Rowe Price Group 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.