Cibc World Markets Corp Sells 1,053 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Cibc World Markets Corp trimmed its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,097 shares of the asset manager’s stock after selling 1,053 shares during the period. Cibc World Markets Corp’s holdings in T. Rowe Price Group were worth $4,761,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TROW. Atria Investments Inc grew its holdings in T. Rowe Price Group by 7.0% during the 3rd quarter. Atria Investments Inc now owns 6,103 shares of the asset manager’s stock worth $665,000 after acquiring an additional 400 shares in the last quarter. Quest Partners LLC grew its holdings in T. Rowe Price Group by 442,900.0% during the 3rd quarter. Quest Partners LLC now owns 4,430 shares of the asset manager’s stock worth $483,000 after acquiring an additional 4,429 shares in the last quarter. LMR Partners LLP bought a new position in T. Rowe Price Group during the 3rd quarter worth about $249,000. Pathstone Holdings LLC grew its holdings in T. Rowe Price Group by 3.4% during the 3rd quarter. Pathstone Holdings LLC now owns 27,535 shares of the asset manager’s stock worth $2,999,000 after acquiring an additional 894 shares in the last quarter. Finally, Meeder Asset Management Inc. grew its holdings in T. Rowe Price Group by 260.7% during the 3rd quarter. Meeder Asset Management Inc. now owns 9,227 shares of the asset manager’s stock worth $1,005,000 after acquiring an additional 6,669 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on TROW shares. Morgan Stanley lowered their price target on shares of T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating on the stock in a report on Monday, February 24th. Wells Fargo & Company lowered their price target on shares of T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Barclays lowered their price target on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a report on Thursday, February 6th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $113.00 price target (up from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to MarketBeat.com, T. Rowe Price Group currently has an average rating of “Hold” and an average target price of $114.09.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Arif Husain sold 4,112 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total transaction of $449,318.24. Following the completion of the transaction, the vice president now directly owns 36,800 shares of the company’s stock, valued at approximately $4,021,136. This trade represents a 10.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.00% of the stock is currently owned by insiders.

T. Rowe Price Group Trading Up 0.5 %

TROW opened at $94.05 on Thursday. T. Rowe Price Group, Inc. has a 12-month low of $91.37 and a 12-month high of $125.81. The firm has a market capitalization of $20.94 billion, a PE ratio of 10.27, a P/E/G ratio of 2.86 and a beta of 1.46. The firm has a 50 day moving average of $107.10 and a two-hundred day moving average of $111.36.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business earned $1.72 EPS. As a group, analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a dividend of $1.27 per share. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 dividend on an annualized basis and a yield of 5.40%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 55.46%.

About T. Rowe Price Group

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.