CIBC Asset Management Inc Decreases Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

CIBC Asset Management Inc decreased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROWGet Rating) by 9.1% during the first quarter, HoldingsChannel reports. The institutional investor owned 31,835 shares of the asset manager’s stock after selling 3,201 shares during the period. CIBC Asset Management Inc’s holdings in T. Rowe Price Group were worth $4,813,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. lifted its position in shares of T. Rowe Price Group by 0.3% during the 4th quarter. BlackRock Inc. now owns 18,809,279 shares of the asset manager’s stock valued at $3,698,654,000 after buying an additional 49,098 shares in the last quarter. State Street Corp lifted its position in shares of T. Rowe Price Group by 2.3% during the 4th quarter. State Street Corp now owns 12,103,628 shares of the asset manager’s stock valued at $2,380,057,000 after buying an additional 274,795 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of T. Rowe Price Group by 1.8% during the 4th quarter. JPMorgan Chase & Co. now owns 8,541,497 shares of the asset manager’s stock valued at $1,679,600,000 after buying an additional 147,938 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of T. Rowe Price Group by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 4,712,847 shares of the asset manager’s stock valued at $924,658,000 after buying an additional 101,912 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of T. Rowe Price Group by 4.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,456,219 shares of the asset manager’s stock valued at $679,632,000 after buying an additional 133,655 shares in the last quarter. Hedge funds and other institutional investors own 71.80% of the company’s stock.

T. Rowe Price Group Stock Down 0.1 %

Shares of TROW opened at $125.04 on Friday. The stock has a fifty day simple moving average of $118.03 and a two-hundred day simple moving average of $133.06. The company has a market capitalization of $28.22 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 2.59 and a beta of 1.30. T. Rowe Price Group, Inc. has a 52-week low of $104.72 and a 52-week high of $224.55.

T. Rowe Price Group (NASDAQ:TROWGet Rating) last issued its quarterly earnings data on Thursday, July 28th. The asset manager reported $1.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.64 by ($0.85). The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.68 billion. T. Rowe Price Group had a return on equity of 28.18% and a net margin of 33.26%. The firm’s revenue for the quarter was down 20.4% compared to the same quarter last year. During the same period in the previous year, the business posted $3.31 earnings per share. As a group, equities analysts anticipate that T. Rowe Price Group, Inc. will post 8.27 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 15th will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date is Wednesday, September 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is 46.33%.

Insider Activity at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 959 shares of T. Rowe Price Group stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $124.57, for a total value of $119,462.63. Following the completion of the transaction, the insider now owns 12,183 shares in the company, valued at approximately $1,517,636.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Jessica M. Hiebler sold 959 shares of T. Rowe Price Group stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $124.57, for a total value of $119,462.63. Following the completion of the transaction, the insider now owns 12,183 shares in the company, valued at approximately $1,517,636.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Andrew Justin Mackenzi Thomson sold 11,891 shares of T. Rowe Price Group stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $126.91, for a total value of $1,509,086.81. Following the completion of the transaction, the vice president now owns 136,410 shares of the company’s stock, valued at approximately $17,311,793.10. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. UBS Group decreased their target price on T. Rowe Price Group from $88.00 to $84.00 and set a “sell” rating on the stock in a research report on Friday, July 29th. BMO Capital Markets reduced their price objective on T. Rowe Price Group from $135.00 to $115.00 in a research note on Monday, August 1st. TheStreet downgraded T. Rowe Price Group from a “b-” rating to a “c” rating in a research note on Wednesday, July 13th. The Goldman Sachs Group reduced their price objective on T. Rowe Price Group from $118.00 to $100.00 and set a “sell” rating for the company in a research note on Wednesday, June 29th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on T. Rowe Price Group from $126.00 to $118.00 and set a “hold” rating for the company in a research note on Wednesday, July 13th. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $130.30.

T. Rowe Price Group Company Profile

(Get Rating)

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.

Read More

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:TROWGet Rating).

Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

Receive News & Ratings for T. Rowe Price Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for T. Rowe Price Group and related companies with MarketBeat.com's FREE daily email newsletter.