Connor Clark & Lunn Investment Management Ltd. Sells 3,210 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Connor Clark & Lunn Investment Management Ltd. lowered its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 10.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 28,522 shares of the asset manager's stock after selling 3,210 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in T. Rowe Price Group were worth $3,226,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. MCF Advisors LLC boosted its stake in T. Rowe Price Group by 1.5% in the fourth quarter. MCF Advisors LLC now owns 6,226 shares of the asset manager's stock worth $704,000 after purchasing an additional 93 shares in the last quarter. Addison Advisors LLC lifted 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 valued at $26,000 after acquiring an additional 93 shares during the period. Strategy Asset Managers LLC lifted its stake in shares of T. Rowe Price Group by 4.6% during the third quarter. Strategy Asset Managers LLC now owns 2,169 shares of the asset manager's stock valued at $236,000 after acquiring an additional 95 shares during the period. Brooklyn Investment Group lifted its stake in shares of T. Rowe Price Group by 24.6% during the fourth quarter. Brooklyn Investment Group now owns 497 shares of the asset manager's stock valued at $56,000 after acquiring an additional 98 shares during the period. Finally, Advantage Trust Co lifted its stake in shares of T. Rowe Price Group by 48.8% during the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager's stock valued at $34,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 73.39% of the company's stock.

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T. Rowe Price Group Trading Down 0.2 %

Shares of NASDAQ TROW traded down $0.21 during mid-day trading on Friday, reaching $92.83. 5,915,205 shares of the company's stock were exchanged, compared to its average volume of 1,296,255. The firm has a market capitalization of $20.67 billion, a price-to-earnings ratio of 10.13, a PEG ratio of 2.86 and a beta of 1.46. The business has a fifty day simple moving average of $106.71 and a 200 day simple moving average of $111.23. T. Rowe Price Group, Inc. has a twelve month low of $91.37 and a twelve month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly 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 return on equity of 20.83% and a net margin of 29.61%. During the same period last year, the business posted $1.72 EPS. Equities research 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a dividend of $1.27 per share. The ex-dividend date of this dividend is Friday, March 14th. This is an increase 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 5.47%. T. Rowe Price Group's dividend payout ratio (DPR) is presently 55.46%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on TROW shares. Morgan Stanley cut their price target on T. Rowe Price Group from $126.00 to $121.00 and set an "equal weight" rating on the stock in a research note on Monday, February 24th. Wells Fargo & Company cut their price target on T. Rowe Price Group from $118.00 to $116.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 6th. StockNews.com lowered T. Rowe Price Group from a "buy" rating to a "hold" rating in a research note on Sunday, February 2nd. 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, Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $113.00 target price (up previously from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $114.09.

Insider Buying and Selling

In related news, VP Arif Husain sold 4,112 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total transaction of $449,318.24. Following the completion of the transaction, the vice president now directly owns 36,800 shares in the company, 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 this hyperlink. 2.00% of the stock is owned by corporate insiders.

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.