T. Rowe Price Group, Inc. $TROW Shares Sold by iA Global Asset Management Inc.

iA Global Asset Management Inc. cut its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 76.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,660 shares of the asset manager’s stock after selling 8,731 shares during the period. iA Global Asset Management Inc.’s holdings in T. Rowe Price Group were worth $257,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Zions Bancorporation National Association UT acquired a new stake in T. Rowe Price Group during the first quarter valued at approximately $27,000. Hexagon Capital Partners LLC lifted its stake in T. Rowe Price Group by 44.8% during the first quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 113 shares during the last quarter. Curio Wealth LLC lifted its stake in T. Rowe Price Group by 20,700.0% during the second quarter. Curio Wealth LLC now owns 416 shares of the asset manager’s stock valued at $40,000 after purchasing an additional 414 shares during the last quarter. Cromwell Holdings LLC lifted its stake in T. Rowe Price Group by 3,483.3% during the second quarter. Cromwell Holdings LLC now owns 430 shares of the asset manager’s stock valued at $41,000 after purchasing an additional 418 shares during the last quarter. Finally, Bogart Wealth LLC lifted its stake in T. Rowe Price Group by 1,787.5% during the second quarter. Bogart Wealth LLC now owns 453 shares of the asset manager’s stock valued at $44,000 after purchasing an additional 429 shares during the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $105.01, for a total value of $324,480.90. Following the transaction, the director owned 47,335 shares in the company, valued at approximately $4,970,648.35. This represents a 6.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on TROW shares. Bank of America increased their target price on shares of T. Rowe Price Group from $91.00 to $97.00 and gave the company an “underperform” rating in a research note on Thursday, October 2nd. Keefe, Bruyette & Woods upped their price target on shares of T. Rowe Price Group from $115.00 to $117.00 and gave the company a “market perform” rating in a research report on Monday. BMO Capital Markets started coverage on shares of T. Rowe Price Group in a research report on Friday, October 3rd. They issued a “market perform” rating and a $108.00 price target for the company. Morgan Stanley upped their price target on shares of T. Rowe Price Group from $125.00 to $126.00 and gave the company an “equal weight” rating in a research report on Monday, October 27th. Finally, Barclays set a $101.00 price target on shares of T. Rowe Price Group in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, eleven have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $109.31.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock opened at $101.27 on Wednesday. The firm has a market cap of $22.25 billion, a PE ratio of 11.32, a P/E/G ratio of 5.61 and a beta of 1.50. The firm’s 50 day moving average price is $104.81 and its two-hundred day moving average price is $100.53. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, October 31st. The asset manager reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.26. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.88 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.57 EPS. Equities analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be paid a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 5.0%. The ex-dividend date is Monday, December 15th. T. Rowe Price Group’s dividend payout ratio is currently 55.34%.

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.