Desjardins Global Asset Management Inc. Buys 350 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Desjardins Global Asset Management Inc. grew its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 23.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,825 shares of the asset manager’s stock after acquiring an additional 350 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in T. Rowe Price Group were worth $197,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Clear Harbor Asset Management LLC boosted its position in shares of T. Rowe Price Group by 3.2% during the fourth quarter. Clear Harbor Asset Management LLC now owns 3,240 shares of the asset manager’s stock valued at $349,000 after buying an additional 100 shares during the last quarter. TCM Advisors LLC boosted its position in shares of T. Rowe Price Group by 1.5% during the first quarter. TCM Advisors LLC now owns 6,900 shares of the asset manager’s stock valued at $779,000 after buying an additional 100 shares during the last quarter. Caprock Group LLC boosted its position in shares of T. Rowe Price Group by 4.7% during the fourth quarter. Caprock Group LLC now owns 2,251 shares of the asset manager’s stock valued at $242,000 after buying an additional 101 shares during the last quarter. Roundview Capital LLC boosted its position in shares of T. Rowe Price Group by 0.5% during the third quarter. Roundview Capital LLC now owns 22,279 shares of the asset manager’s stock valued at $2,336,000 after buying an additional 105 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV boosted its position in shares of T. Rowe Price Group by 83.5% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock valued at $25,000 after buying an additional 106 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Citigroup increased their price objective 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. UBS Group increased their price objective on T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research report on Friday, April 12th. Morgan Stanley increased their price objective on T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research report on Wednesday. JPMorgan Chase & Co. raised their target price on T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a research report on Tuesday. Finally, Keefe, Bruyette & Woods raised T. Rowe Price Group from an “underperform” rating to a “market perform” rating and raised their target price for the stock from $106.00 to $120.00 in a research report on Thursday, April 11th. Four research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $112.67.

Insider Transactions at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 1,138 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was 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 filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Jessica M. Hiebler sold 1,138 shares of T. Rowe Price Group stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $107.13, for a total transaction of $121,913.94. Following the sale, the insider now owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Freeman A. Hrabowski III sold 8,740 shares of T. Rowe Price Group stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $118.32, for a total value of $1,034,116.80. Following the sale, the director now directly owns 21,073 shares in the company, valued at approximately $2,493,357.36. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of NASDAQ:TROW opened at $108.72 on Friday. The stock’s 50-day simple moving average is $114.67 and its two-hundred day simple moving average is $106.71. T. Rowe Price Group, Inc. has a 52-week low of $87.43 and a 52-week high of $132.76. The stock has a market capitalization of $24.31 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 2.15 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Thursday, February 8th. The asset manager reported $1.72 EPS for the quarter, topping the consensus estimate of $1.60 by $0.12. T. Rowe Price Group had a return on equity of 18.41% and a net margin of 27.69%. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter last year, the company earned $1.74 earnings per share. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, equities analysts forecast that T. Rowe Price Group, Inc. will post 8.13 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a $1.24 dividend. The ex-dividend date was Thursday, March 14th. This represents a $4.96 annualized dividend and a dividend yield of 4.56%. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.22. T. Rowe Price Group’s dividend payout ratio (DPR) is 63.92%.

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.