Commerce Bank Decreases Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Commerce Bank trimmed its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 5.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm 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 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Addison Advisors LLC grew its stake in shares of T. Rowe Price Group by 67.4% during the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager's stock worth $26,000 after purchasing an additional 93 shares in the last quarter. Curio Wealth LLC purchased a new position in shares of T. Rowe Price Group in the 4th quarter valued at about $27,000. Y.D. More Investments Ltd lifted its stake in T. Rowe Price Group by 124.0% during the fourth quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager's stock worth $32,000 after purchasing an additional 155 shares during the last quarter. Stonebridge Financial Group LLC acquired a new position in T. Rowe Price Group in the fourth quarter valued at approximately $32,000. Finally, Advantage Trust Co raised its holdings 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 purchasing 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 0.9 %

Shares of NASDAQ:TROW opened at $86.11 on Friday. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81. The company has a 50-day moving average price of $95.65 and a 200 day moving average price of $108.40. The company has a market cap of $19.14 billion, a P/E ratio of 9.40, a PEG ratio of 2.86 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 EPS for the quarter, missing the consensus estimate 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 period last year, the firm earned $1.72 earnings per share. Analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently commented on TROW shares. Bank of America cut their price target on shares of T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating on the stock in a research note on Thursday, April 3rd. StockNews.com downgraded T. Rowe Price Group from a "buy" rating to a "hold" rating in a research note on Sunday, February 2nd. TD Cowen decreased their price objective on T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating for the company in a report on Wednesday, April 9th. JPMorgan Chase & Co. cut their target price on shares of T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating on the stock in a report on Wednesday. Finally, Wells Fargo & Company dropped their price objective on shares of T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $96.00.

Insider Activity

In other T. Rowe Price Group news, VP Arif Husain sold 4,112 shares of the company's 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 transaction, the vice president now directly owns 36,800 shares in the company, valued at approximately $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 can be accessed through this link. Also, Director Robert F. Maclellan sold 3,955 shares of T. Rowe Price Group stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $91.56, for a total transaction of $362,119.80. Following the sale, the director now owns 42,979 shares of the company's stock, valued at approximately $3,935,157.24. The trade was a 8.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company's stock.

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.

Want to see what other hedge funds are holding TROW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.