T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 38,940 shares of the asset manager’s stock after purchasing an additional 876 shares during the period. CIBC Asset Management Inc’s holdings in T. Rowe Price Group were worth $4,404,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in TROW. Exchange Traded Concepts LLC acquired a new stake in shares of T. Rowe Price Group during the third quarter worth about $105,000. Creative Planning increased its position in T. Rowe Price Group by 0.3% in the 3rd quarter. Creative Planning now owns 55,324 shares of the asset manager’s stock valued at $6,026,000 after acquiring an additional 177 shares during the period. Bleakley Financial Group LLC increased its position in T. Rowe Price Group by 28.8% in the 3rd quarter. Bleakley Financial Group LLC now owns 3,821 shares of the asset manager’s stock valued at $416,000 after acquiring an additional 854 shares during the period. Blue Trust Inc. increased its position in T. Rowe Price Group by 302.3% in the 3rd quarter. Blue Trust Inc. now owns 2,615 shares of the asset manager’s stock valued at $301,000 after acquiring an additional 1,965 shares during the period. Finally, Eastern Bank acquired a new position in T. Rowe Price Group in the 3rd quarter valued at about $54,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $108.36 on Thursday. The business’s 50 day simple moving average is $113.31 and its 200-day simple moving average is $112.30. The firm has a market capitalization of $24.07 billion, a price-to-earnings ratio of 11.83, a price-to-earnings-growth ratio of 2.82 and a beta of 1.44. T. Rowe Price Group, Inc. has a 12 month low of $100.49 and a 12 month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 EPS for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.61%. During the same period in the previous year, the business posted $1.72 EPS. On average, equities analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a dividend of $1.27 per share. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.08 annualized dividend and a dividend yield of 4.69%. T. Rowe Price Group’s payout ratio is 54.15%.

Wall Street Analysts Forecast Growth

TROW has been the topic of several recent research reports. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $113.00 price target (up previously from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Barclays dropped their price target on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft boosted their price target on T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Wells Fargo & Company lowered their price objective on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Finally, StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat.com, T. Rowe Price Group has an average rating of “Hold” and an average price target of $115.09.

Insider Transactions at T. Rowe Price Group

In related news, VP Arif Husain sold 4,112 shares of T. Rowe Price Group stock in a transaction that occurred on 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 $4,021,136. The trade was a 10.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total value of $499,197.45. Following the transaction, the vice president now owns 119,577 shares of the company’s stock, valued at $14,749,822.95. This represents a 3.27 % 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.

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.