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

CIBC Asset Management Inc trimmed its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROWGet Rating) by 9.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,835 shares of the asset manager’s stock after selling 3,201 shares during the quarter. CIBC Asset Management Inc’s holdings in T. Rowe Price Group were worth $4,813,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. BlackRock Inc. boosted its stake in T. Rowe Price Group by 0.3% during the fourth quarter. BlackRock Inc. now owns 18,809,279 shares of the asset manager’s stock worth $3,698,654,000 after buying an additional 49,098 shares during the period. State Street Corp boosted its stake in T. Rowe Price Group by 2.3% during the fourth quarter. State Street Corp now owns 12,103,628 shares of the asset manager’s stock worth $2,380,057,000 after buying an additional 274,795 shares during the period. JPMorgan Chase & Co. boosted its stake in T. Rowe Price Group by 1.8% during the fourth quarter. JPMorgan Chase & Co. now owns 8,541,497 shares of the asset manager’s stock worth $1,679,600,000 after buying an additional 147,938 shares during the period. Geode Capital Management LLC boosted its stake in shares of T. Rowe Price Group by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 4,712,847 shares of the asset manager’s stock valued at $924,658,000 after purchasing an additional 101,912 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of T. Rowe Price Group by 4.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,456,219 shares of the asset manager’s stock valued at $679,632,000 after purchasing an additional 133,655 shares during the period. 71.80% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Jessica M. Hiebler sold 959 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $124.57, for a total transaction of $119,462.63. Following the transaction, the insider now owns 12,183 shares in the company, valued at $1,517,636.31. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, VP Andrew Justin Mackenzi Thomson sold 11,891 shares of the company’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $126.91, for a total transaction of $1,509,086.81. Following the transaction, the vice president now owns 136,410 shares in the company, valued at $17,311,793.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jessica M. Hiebler sold 959 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $124.57, for a total transaction of $119,462.63. Following the transaction, the insider now owns 12,183 shares in the company, valued at approximately $1,517,636.31. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Price Performance

NASDAQ:TROW opened at $125.04 on Friday. T. Rowe Price Group, Inc. has a 1-year low of $104.72 and a 1-year high of $224.55. The company has a 50-day moving average of $118.03 and a 200 day moving average of $133.06. The firm has a market cap 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 (NASDAQ:TROWGet Rating) last announced its earnings results on Thursday, July 28th. The asset manager reported $1.79 EPS for the quarter, missing analysts’ consensus estimates of $2.64 by ($0.85). The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.68 billion. T. Rowe Price Group had a return on equity of 28.18% and a net margin of 33.26%. The business’s revenue for the quarter was down 20.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.31 earnings per share. Sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 8.27 EPS 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. Shareholders of record on Thursday, September 15th will be issued a $1.20 dividend. The ex-dividend date is Wednesday, September 14th. This represents a $4.80 dividend on an annualized basis and a yield of 3.84%. T. Rowe Price Group’s dividend payout ratio is presently 46.33%.

Wall Street Analysts Forecast Growth

TROW has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lowered their target price on shares of T. Rowe Price Group from $117.00 to $94.00 and set an “underweight” rating for the company in a research note on Monday, July 18th. The Goldman Sachs Group lowered their target price on shares of 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. Citigroup lowered their target price on shares of T. Rowe Price Group from $110.00 to $90.00 in a research note on Friday, April 29th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of 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. Finally, UBS Group lowered their target price on shares of T. Rowe Price Group from $88.00 to $84.00 and set a “sell” rating for the company in a research note on Friday, July 29th. Five analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, T. Rowe Price Group currently has a consensus rating of “Hold” and an average price target of $130.30.

T. Rowe Price Group 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

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.