Cibc World Market Inc. Buys 7,668 Shares of T. Rowe Price Group, Inc. $TROW

Cibc World Market Inc. boosted its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 28.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 34,857 shares of the asset manager’s stock after purchasing an additional 7,668 shares during the quarter. Cibc World Market Inc.’s holdings in T. Rowe Price Group were worth $3,569,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its position in T. Rowe Price Group by 332.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager’s stock worth $897,880,000 after purchasing an additional 6,740,172 shares during the last quarter. Norges Bank purchased a new position in T. Rowe Price Group during the fourth quarter worth about $128,283,000. PFA Pension Forsikringsaktieselskab purchased a new position in shares of T. Rowe Price Group in the 4th quarter worth about $61,073,000. Caisse de depot et placement du Quebec boosted its holdings 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. Finally, Anchyra Partners LLC purchased a new stake in T. Rowe Price Group during the 4th quarter valued at about $48,012,000. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW opened at $105.45 on Tuesday. The business’s 50 day moving average is $99.37 and its two-hundred day moving average is $99.37. T. Rowe Price Group, Inc. has a 1-year low of $85.22 and a 1-year high of $118.22. The stock has a market capitalization of $22.59 billion, a P/E ratio of 11.30, a PEG ratio of 5.42 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.37 by $0.15. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same period in the previous year, the firm posted $2.23 earnings per share. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9.63 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.9%. The ex-dividend date is Monday, June 15th. T. Rowe Price Group’s payout ratio is 55.73%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TROW. Morgan Stanley set a $105.00 target price on T. Rowe Price Group in a research report on Monday, April 27th. Keefe, Bruyette & Woods upped their price target on T. Rowe Price Group from $95.00 to $107.00 and gave the stock a “market perform” rating in a research note on Friday, May 1st. Jefferies Financial Group reduced their target price on T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating for the company in a report on Wednesday, April 8th. The Goldman Sachs Group lifted their target price on T. Rowe Price Group from $85.00 to $90.00 in a report on Friday, May 1st. Finally, Evercore lifted their target price on T. Rowe Price Group from $106.00 to $111.00 in a report on Monday. Eleven research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $100.08.

Insider Activity

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total transaction of $307,680.00. Following the completion of the transaction, the vice president owned 83,883 shares in the company, valued at $8,603,040.48. The trade was a 3.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is owned by company insiders.

About T. Rowe Price Group

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.