CIBC Private Wealth Group LLC Has $4.73 Million Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

CIBC Private Wealth Group LLC lessened its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 22.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 41,948 shares of the asset manager's stock after selling 12,393 shares during the quarter. CIBC Private Wealth Group LLC's holdings in T. Rowe Price Group were worth $4,733,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Addison Advisors LLC boosted its holdings in T. Rowe Price Group by 67.4% in 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 during the period. Curio Wealth LLC acquired a new position in shares of T. Rowe Price Group in the 4th quarter valued at about $27,000. Y.D. More Investments Ltd grew its position in shares of T. Rowe Price Group by 124.0% during the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager's stock valued at $32,000 after buying an additional 155 shares during the last quarter. Stonebridge Financial Group LLC bought a new position in T. Rowe Price Group in the fourth quarter worth about $32,000. Finally, Advantage Trust Co increased its position in T. Rowe Price Group by 48.8% in the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager's stock worth $34,000 after buying an additional 100 shares during the period. Institutional investors own 73.39% of the company's stock.

Insiders Place Their Bets

In other news, Director Robert F. Maclellan sold 3,955 shares of the firm's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $91.56, for a total value of $362,119.80. Following the completion of the sale, the director now owns 42,979 shares of the company's stock, valued at $3,935,157.24. This trade represents a 8.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Arif Husain sold 4,112 shares of the company'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 transaction, the vice president now directly owns 36,800 shares in the company, valued at $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. Corporate insiders own 2.00% of the company's stock.

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Analyst Ratings Changes

A number of brokerages have recently commented on TROW. The Goldman Sachs Group lowered their price target on T. Rowe Price Group from $103.00 to $89.00 and set a "sell" rating on the stock in a report on Thursday. Barclays lowered their target price on shares of 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. Wells Fargo & Company reduced 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 research note on Thursday, February 6th. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $113.00 price objective (up from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Finally, StockNews.com cut T. Rowe Price Group from a "buy" rating to a "hold" rating in a report on Sunday, February 2nd. Five research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $108.50.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW traded down $7.68 during trading on Thursday, hitting $86.22. The company had a trading volume of 3,284,963 shares, compared to its average volume of 1,378,461. T. Rowe Price Group, Inc. has a 52 week low of $85.76 and a 52 week high of $125.81. The business's 50-day moving average is $102.82 and its 200 day moving average is $110.45. The company has a market cap of $19.16 billion, a P/E ratio of 9.41, a PEG ratio of 2.86 and a beta of 1.46.

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 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. On average, research analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The company 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. The ex-dividend date was 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 5.89%. T. Rowe Price Group's dividend payout ratio 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.