CIBC Asset Management Inc Grows Stock Holdings in T. Rowe Price Group, Inc. $TROW

CIBC Asset Management Inc grew its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 55.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 55,829 shares of the asset manager’s stock after acquiring an additional 19,924 shares during the quarter. CIBC Asset Management Inc’s holdings in T. Rowe Price Group were worth $5,716,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Goldman Sachs Group Inc. raised its stake in shares of T. Rowe Price Group by 332.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager’s stock valued at $897,880,000 after acquiring an additional 6,740,172 shares during the period. Kesler Norman & Wride LLC raised its stake in shares of T. Rowe Price Group by 24.7% in the fourth quarter. Kesler Norman & Wride LLC now owns 15,543 shares of the asset manager’s stock valued at $1,591,000 after acquiring an additional 3,083 shares during the period. Peak Retirement Planning Inc. raised its stake in shares of T. Rowe Price Group by 23.9% in the fourth quarter. Peak Retirement Planning Inc. now owns 19,713 shares of the asset manager’s stock valued at $2,018,000 after acquiring an additional 3,798 shares during the period. Natixis Advisors LLC raised its stake in shares of T. Rowe Price Group by 42.4% in the fourth quarter. Natixis Advisors LLC now owns 35,726 shares of the asset manager’s stock valued at $3,658,000 after acquiring an additional 10,633 shares during the period. Finally, AXQ Capital LP purchased a new stake in shares of T. Rowe Price Group in the fourth quarter valued at $1,379,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

TROW stock opened at $105.99 on Friday. The company has a market capitalization of $22.71 billion, a PE ratio of 11.36, a P/E/G ratio of 5.42 and a beta of 1.50. T. Rowe Price Group, Inc. has a 12 month low of $85.22 and a 12 month high of $118.22. The firm’s 50-day moving average is $99.06 and its 200 day moving average is $99.30.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 EPS for the quarter, topping the consensus estimate of $2.37 by $0.15. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.85 billion. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The firm’s revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.23 EPS. Sell-side analysts forecast that T. Rowe Price Group, Inc. will post 9.63 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.9%. The ex-dividend date is Monday, June 15th. T. Rowe Price Group’s dividend payout ratio is presently 55.73%.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total transaction of $307,680.00. Following the transaction, the vice president directly owned 83,883 shares in the company, valued at $8,603,040.48. This represents a 3.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

TROW has been the topic of several recent analyst reports. BMO Capital Markets increased their target price on shares of T. Rowe Price Group from $98.00 to $110.00 and gave the company a “market perform” rating in a research note on Monday, May 4th. Evercore reduced their target price on shares of T. Rowe Price Group from $106.00 to $104.00 in a research note on Monday, May 11th. Morgan Stanley set a $105.00 target price on shares of T. Rowe Price Group in a research note on Monday, April 27th. The Goldman Sachs Group increased their target price on shares of T. Rowe Price Group from $85.00 to $90.00 in a research note on Friday, May 1st. Finally, Keefe, Bruyette & Woods raised their price target on shares of T. Rowe Price Group from $95.00 to $107.00 and gave the stock a “market perform” rating in a research note on Friday, May 1st. Eleven research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, T. Rowe Price Group presently has an average rating of “Reduce” and an average price target of $99.54.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.