Confluence Investment Management LLC Trims Stock Holdings in T. Rowe Price Group, Inc. $TROW

Confluence Investment Management LLC cut its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 943,672 shares of the asset manager’s stock after selling 30,097 shares during the quarter. T. Rowe Price Group makes up approximately 1.4% of Confluence Investment Management LLC’s investment portfolio, making the stock its 27th biggest position. Confluence Investment Management LLC’s holdings in T. Rowe Price Group were worth $96,613,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. First Trust Advisors LP grew its holdings in T. Rowe Price Group by 137.7% in the second quarter. First Trust Advisors LP now owns 3,441,458 shares of the asset manager’s stock worth $332,101,000 after purchasing an additional 1,993,920 shares during the period. Norges Bank purchased a new position in shares of T. Rowe Price Group during the second quarter valued at approximately $82,756,000. Caisse de depot et placement du Quebec boosted its position in shares of T. Rowe Price Group by 81.0% in the 3rd quarter. Caisse de depot et placement du Quebec now owns 1,306,922 shares of the asset manager’s stock worth $134,142,000 after purchasing an additional 584,949 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of T. Rowe Price Group in the 3rd quarter worth approximately $34,034,000. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of T. Rowe Price Group by 160.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 506,588 shares of the asset manager’s stock worth $48,886,000 after buying an additional 311,987 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock opened at $87.09 on Friday. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $118.22. The stock has a fifty day moving average of $97.30 and a 200 day moving average of $101.63. The stock has a market cap of $18.95 billion, a PE ratio of 9.42, a price-to-earnings-growth ratio of 3.66 and a beta of 1.54.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Wednesday, February 4th. The asset manager reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.47 by ($0.03). T. Rowe Price Group had a return on equity of 20.29% and a net margin of 28.53%.The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter in the previous year, the business posted $2.12 earnings per share. The firm’s revenue was up 6.0% on a year-over-year basis. As a group, sell-side analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 6.0%. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.27. The ex-dividend date of this dividend is Monday, March 16th. T. Rowe Price Group’s dividend payout ratio is currently 56.22%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Zacks Research downgraded T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Bank of America upped their price target on shares of T. Rowe Price Group from $85.00 to $86.00 in a research note on Wednesday, January 14th. The Goldman Sachs Group cut their price objective on shares of T. Rowe Price Group from $95.00 to $90.00 and set a “sell” rating on the stock in a research report on Thursday, February 5th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of T. Rowe Price Group from $106.00 to $100.00 and set a “hold” rating for the company in a research note on Thursday, February 5th. Finally, Evercore dropped their target price on shares of T. Rowe Price Group from $106.00 to $99.00 in a research note on Friday, March 6th. Twelve analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, T. Rowe Price Group currently has an average rating of “Reduce” and a consensus price target of $101.69.

T. Rowe Price Group Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.