T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. reduced its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 10.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,522 shares of the asset manager’s stock after selling 3,210 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in T. Rowe Price Group were worth $3,226,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of TROW. Amundi boosted its position in T. Rowe Price Group by 30.1% during the fourth quarter. Amundi now owns 1,717,877 shares of the asset manager’s stock worth $194,064,000 after acquiring an additional 397,278 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of T. Rowe Price Group by 5.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager’s stock worth $812,798,000 after purchasing an additional 346,369 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of T. Rowe Price Group by 382.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 398,175 shares of the asset manager’s stock worth $43,373,000 after purchasing an additional 315,581 shares during the last quarter. Raymond James Financial Inc. acquired a new position in T. Rowe Price Group in the fourth quarter valued at $32,332,000. Finally, Provident Trust Co. lifted its position in T. Rowe Price Group by 8.9% during the fourth quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager’s stock worth $295,311,000 after buying an additional 213,566 shares during the period. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Performance

Shares of NASDAQ:TROW opened at $94.31 on Tuesday. The business’s 50-day simple moving average is $107.87 and its 200 day simple moving average is $111.57. The company has a market cap of $21.00 billion, a P/E ratio of 10.30, a PEG ratio of 2.86 and a beta of 1.46. T. Rowe Price Group, Inc. has a one year low of $91.37 and a one year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last posted 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 20.83% and a net margin of 29.61%. During the same quarter last year, the firm earned $1.72 EPS. Analysts predict 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 disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a $1.27 dividend. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 dividend on an annualized basis and a yield of 5.39%. The ex-dividend date of this dividend is Friday, March 14th. T. Rowe Price Group’s dividend payout ratio is presently 55.46%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $113.00 price target (up from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Wells Fargo & Company dropped their price target on shares of T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Morgan Stanley lowered their price objective on shares of T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a research note on Monday, February 24th. Finally, Barclays cut their target price 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. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to data from MarketBeat, T. Rowe Price Group presently has a consensus rating of “Hold” and a consensus price target of $114.09.

Insider Activity

In other news, VP Arif Husain sold 4,112 shares of the 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 approximately $4,021,136. This represents a 10.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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.