iA Global Asset Management Inc. Reduces Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

iA Global Asset Management Inc. decreased its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 18.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 9,888 shares of the asset manager’s stock after selling 2,217 shares during the period. iA Global Asset Management Inc.’s holdings in T. Rowe Price Group were worth $1,118,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Addison Advisors LLC lifted its holdings in T. Rowe Price Group by 67.4% during the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock worth $26,000 after purchasing an additional 93 shares in the last quarter. Curio Wealth LLC purchased a new stake in T. Rowe Price Group during the 4th quarter worth about $27,000. Y.D. More Investments Ltd lifted its holdings in T. Rowe Price Group by 124.0% during the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock worth $32,000 after purchasing an additional 155 shares in the last quarter. Stonebridge Financial Group LLC purchased a new stake in T. Rowe Price Group during the 4th quarter worth about $32,000. Finally, Advantage Trust Co raised its holdings in shares of T. Rowe Price Group by 48.8% in the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock valued at $34,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Trading Down 0.2 %

Shares of T. Rowe Price Group stock opened at $92.83 on Friday. The firm has a market capitalization of $20.67 billion, a PE ratio of 10.13, a price-to-earnings-growth ratio of 2.86 and a beta of 1.46. The business’s 50-day moving average price is $106.39 and its 200-day moving average price is $111.14. T. Rowe Price Group, Inc. has a 12 month low of $91.37 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 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 period in the previous year, the firm earned $1.72 earnings per share. As a group, analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid 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 5.47%. The ex-dividend date of this dividend is Friday, March 14th. T. Rowe Price Group’s payout ratio is 55.46%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Morgan Stanley lowered their price target on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating on the stock in a report on Monday, February 24th. Keefe, Bruyette & Woods reaffirmed 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 report on Thursday, February 6th. Barclays lowered their price target on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a report on Thursday, February 6th. Finally, Wells Fargo & Company lowered their price target 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. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to MarketBeat, T. Rowe Price Group currently has an average rating of “Hold” and a consensus target price of $114.09.

Insiders Place Their Bets

In other T. Rowe Price Group 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 value of $449,318.24. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.00% of the company’s stock.

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.