Commerce Bank Trims Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Commerce Bank trimmed its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,440 shares of the asset manager’s stock after selling 4,758 shares during the period. Commerce Bank’s holdings in T. Rowe Price Group were worth $10,002,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Barclays PLC raised its holdings in shares of T. Rowe Price Group by 13.6% in the third quarter. Barclays PLC now owns 822,869 shares of the asset manager’s stock worth $89,635,000 after acquiring an additional 98,448 shares during the last quarter. Tudor Financial Inc. acquired a new position in T. Rowe Price Group in the 3rd quarter valued at about $668,000. Sanctuary Advisors LLC lifted its holdings in T. Rowe Price Group by 6.6% in the 3rd quarter. Sanctuary Advisors LLC now owns 14,644 shares of the asset manager’s stock valued at $1,755,000 after purchasing an additional 902 shares in the last quarter. World Investment Advisors LLC purchased a new position in T. Rowe Price Group in the 3rd quarter valued at about $273,000. Finally, Wilmington Savings Fund Society FSB boosted its stake in shares of T. Rowe Price Group by 191.1% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 11,404 shares of the asset manager’s stock worth $1,242,000 after purchasing an additional 7,486 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Stock Performance

NASDAQ TROW opened at $86.11 on Friday. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $125.81. The company’s 50 day moving average price is $95.65 and its 200 day moving average price is $108.40. The firm has a market capitalization of $19.14 billion, a price-to-earnings ratio of 9.40, a PEG ratio of 2.86 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Wednesday, February 5th. The asset manager reported $2.12 EPS for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. During the same quarter in the previous year, the company posted $1.72 earnings per share. Sell-side analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.90%. The ex-dividend date was Friday, March 14th. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s payout ratio is currently 55.46%.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,955 shares of the company’s stock in a transaction dated 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 directly owns 42,979 shares of the company’s stock, valued at $3,935,157.24. This represents a 8.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Arif Husain sold 4,112 shares of T. Rowe Price Group stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total value of $449,318.24. Following the sale, the vice president now directly owns 36,800 shares in the company, valued at approximately $4,021,136. The trade was 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

Several equities analysts recently issued reports on TROW shares. Evercore ISI reduced their price objective on shares of T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating on the stock in a research note on Friday, April 11th. Citigroup reduced their price target on T. Rowe Price Group from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $113.00 price objective (up previously from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Bank of America reduced their target price on T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating on the stock in a research report on Thursday, April 3rd. Finally, StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat, T. Rowe Price Group currently has an average rating of “Hold” and a consensus price target of $96.00.

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.