Alberta Investment Management Corp Has $4.09 Million Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Alberta Investment Management Corp trimmed its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 6.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,200 shares of the asset manager's stock after selling 2,500 shares during the quarter. Alberta Investment Management Corp's holdings in T. Rowe Price Group were worth $4,094,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its holdings in shares of T. Rowe Price Group by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager's stock valued at $745,169,000 after purchasing an additional 231,286 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of T. Rowe Price Group by 0.5% during the third quarter. Geode Capital Management LLC now owns 5,515,198 shares of the asset manager's stock valued at $598,801,000 after acquiring an additional 25,481 shares during the period. Provident Trust Co. boosted its holdings in T. Rowe Price Group by 8.9% in the fourth quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager's stock valued at $295,311,000 after acquiring an additional 213,566 shares during the last quarter. Fisher Asset Management LLC increased its position in T. Rowe Price Group by 2.6% in the third quarter. Fisher Asset Management LLC now owns 1,861,454 shares of the asset manager's stock worth $202,768,000 after purchasing an additional 47,998 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in T. Rowe Price Group by 4.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,375,306 shares of the asset manager's stock worth $149,812,000 after purchasing an additional 53,997 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company's stock.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Arif Husain sold 4,112 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total transaction of $449,318.24. Following the sale, the vice president now directly 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business's stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the completion of the transaction, the vice president now owns 119,577 shares of the company's stock, valued at $14,749,822.95. The trade was a 3.27 % 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.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock traded down $2.22 during midday trading on Friday, reaching $106.27. 1,199,985 shares of the company's stock were exchanged, compared to its average volume of 1,543,894. The stock's 50-day simple moving average is $113.06 and its 200 day simple moving average is $112.27. The firm has a market cap of $23.66 billion, a price-to-earnings ratio of 11.60, a P/E/G ratio of 2.85 and a beta of 1.44. T. Rowe Price Group, Inc. has a 52 week low of $100.49 and a 52 week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share 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 period last year, the business earned $1.72 EPS. Research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $1.27 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.08 dividend on an annualized basis and a yield of 4.78%. This is an increase from T. Rowe Price Group's previous quarterly dividend of $1.24. T. Rowe Price Group's payout ratio is currently 54.15%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TROW. Deutsche Bank Aktiengesellschaft boosted their price target on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the stock a "hold" rating in a research note on Monday, November 11th. Morgan Stanley raised their price target on T. Rowe Price Group from $129.00 to $132.00 and gave the stock an "equal weight" rating in a research report on Friday, December 20th. JPMorgan Chase & Co. dropped their price objective on T. Rowe Price Group from $116.00 to $115.00 and set an "underweight" rating for the company in a report on Monday, November 4th. Barclays cut their target price on T. Rowe Price Group from $113.00 to $105.00 and set an "underweight" rating on the stock in a research note on Thursday, February 6th. Finally, StockNews.com downgraded shares of T. Rowe Price Group from a "buy" rating to a "hold" rating in a research report on Sunday, February 2nd. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $115.09.

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.