Alberta Investment Management Corp Sells 2,500 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Alberta Investment Management Corp lessened its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 6.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 36,200 shares of the asset manager’s stock after selling 2,500 shares during the quarter. Alberta Investment Management Corp’s holdings in T. Rowe Price Group were worth $4,094,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of TROW. Kentucky Retirement Systems Insurance Trust Fund increased its position in shares of T. Rowe Price Group by 40.2% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,240 shares of the asset manager’s stock worth $1,045,000 after acquiring an additional 2,649 shares during the period. Cardinal Capital Management grew its position in shares of T. Rowe Price Group by 0.7% during the 4th quarter. Cardinal Capital Management now owns 61,417 shares of the asset manager’s stock worth $6,946,000 after buying an additional 452 shares in the last quarter. Kestra Investment Management LLC increased its stake in shares of T. Rowe Price Group by 71.3% during the fourth quarter. Kestra Investment Management LLC now owns 9,609 shares of the asset manager’s stock valued at $1,087,000 after buying an additional 3,999 shares during the period. Provident Trust Co. lifted its stake in T. Rowe Price Group by 8.9% in the fourth quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager’s stock worth $295,311,000 after acquiring an additional 213,566 shares during the period. Finally, Venturi Wealth Management LLC lifted its stake in T. Rowe Price Group by 125.4% in the fourth quarter. Venturi Wealth Management LLC now owns 719 shares of the asset manager’s stock worth $81,000 after acquiring an additional 400 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Wall Street Analyst Weigh In

TROW has been the subject of several recent research reports. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Wells Fargo & Company cut their target price 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. Morgan Stanley boosted their price objective on shares of T. Rowe Price Group from $129.00 to $132.00 and gave the stock an “equal weight” rating in a research note on Friday, December 20th. TD Cowen decreased their target price on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $113.00 price target (up from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat, T. Rowe Price Group has an average rating of “Hold” and an average price target of $115.09.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total value of $499,197.45. Following the completion of the transaction, the vice president now owns 119,577 shares in the company, valued at $14,749,822.95. The trade was a 3.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Arif Husain sold 4,112 shares of the company’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total value of $449,318.24. Following the completion of the transaction, the vice president now directly owns 36,800 shares of the company’s stock, valued at $4,021,136. The trade was a 10.05 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

T. Rowe Price Group Trading Up 0.1 %

NASDAQ:TROW opened at $108.49 on Friday. The firm has a fifty day simple moving average of $113.06 and a 200-day simple moving average of $112.27. T. Rowe Price Group, Inc. has a 12 month low of $100.49 and a 12 month high of $125.81. The company has a market capitalization of $24.15 billion, a P/E ratio of 11.84, a PEG ratio of 2.84 and a beta of 1.44.

T. Rowe Price Group (NASDAQ:TROW) last released its 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 20.91% and a net margin of 29.61%. During the same period last year, the company posted $1.72 EPS. Equities analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $1.27 dividend. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 annualized dividend and a dividend yield of 4.68%. The ex-dividend date of this dividend is Friday, March 14th. T. Rowe Price Group’s dividend payout ratio is 55.46%.

T. Rowe Price Group Company 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.