National Bank of Canada FI Acquires 15,359 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

National Bank of Canada FI lifted its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 8.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 200,812 shares of the asset manager's stock after acquiring an additional 15,359 shares during the period. National Bank of Canada FI owned about 0.09% of T. Rowe Price Group worth $22,720,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of T. Rowe Price Group by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 26,063,837 shares of the asset manager's stock worth $2,947,559,000 after buying an additional 135,203 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of T. Rowe Price Group by 5.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager's stock valued at $812,798,000 after purchasing an additional 346,369 shares during the period. Geode Capital Management LLC boosted its holdings 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 worth $598,801,000 after purchasing an additional 25,481 shares during the period. Provident Trust Co. increased its stake in T. Rowe Price Group by 8.9% in the 4th quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager's stock valued at $295,311,000 after buying an additional 213,566 shares during the period. Finally, Fisher Asset Management LLC boosted its stake in shares of T. Rowe Price Group by 0.5% during the 4th quarter. Fisher Asset Management LLC now owns 1,870,446 shares of the asset manager's stock valued at $211,529,000 after buying an additional 8,992 shares during the period. Hedge funds and other institutional investors own 73.39% of the company's stock.

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Analysts Set New Price Targets

TROW has been the subject of a number of analyst reports. Citigroup reduced their price objective on shares of T. Rowe Price Group from $120.00 to $100.00 and set a "neutral" rating for the company in a research note on Monday, March 31st. The Goldman Sachs Group lowered their price objective on T. Rowe Price Group from $103.00 to $89.00 and set a "sell" rating on the stock in a research note on Thursday, April 3rd. Wells Fargo & Company cut their price target on shares of T. Rowe Price Group from $118.00 to $116.00 and set an "equal weight" rating for the company in a report on Thursday, February 6th. StockNews.com cut T. Rowe Price Group from a "buy" rating to a "hold" rating in a report on Sunday, February 2nd. Finally, Keefe, Bruyette & Woods reissued 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 note on Thursday, February 6th. Five research analysts have rated the stock with a sell rating and eight have given a hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $108.50.

T. Rowe Price Group Trading Up 2.2 %

Shares of NASDAQ:TROW traded up $1.77 during trading on Tuesday, hitting $83.43. 973,175 shares of the company's stock traded hands, compared to its average volume of 1,402,108. The company has a market cap of $18.54 billion, a price-to-earnings ratio of 9.11, a price-to-earnings-growth ratio of 2.86 and a beta of 1.50. The company has a 50-day moving average price of $101.54 and a 200-day moving average price of $110.12. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its 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 net margin of 29.61% and a return on equity of 20.83%. During the same period last year, the business posted $1.72 earnings per share. On average, analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a $1.27 dividend. This is a positive change from T. Rowe Price Group's previous quarterly dividend of $1.24. This represents a $5.08 annualized dividend and a yield of 6.09%. The ex-dividend date was Friday, March 14th. T. Rowe Price Group's payout ratio is presently 55.46%.

Insider Transactions at T. Rowe Price Group

In related news, VP Arif Husain sold 4,112 shares of the firm's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert F. Maclellan sold 3,955 shares of the stock in a transaction 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 completion of the sale, the director now owns 42,979 shares of the company's stock, valued at approximately $3,935,157.24. This represents a 8.43 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.00% of the company's stock.

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.