Commerzbank Aktiengesellschaft FI Reduces Stock Position in T. Rowe Price Group, Inc. $TROW

Commerzbank Aktiengesellschaft FI trimmed its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 19.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 76,221 shares of the asset manager’s stock after selling 17,963 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in T. Rowe Price Group were worth $6,871,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Oregon Public Employees Retirement Fund grew its holdings in shares of T. Rowe Price Group by 0.4% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 25,062 shares of the asset manager’s stock worth $2,259,000 after acquiring an additional 100 shares during the period. MTM Investment Management LLC raised its holdings in T. Rowe Price Group by 3.5% during the fourth quarter. MTM Investment Management LLC now owns 3,167 shares of the asset manager’s stock worth $324,000 after purchasing an additional 107 shares during the last quarter. GenTrust LLC boosted its position in T. Rowe Price Group by 5.5% during the fourth quarter. GenTrust LLC now owns 2,114 shares of the asset manager’s stock worth $216,000 after purchasing an additional 110 shares in the last quarter. Fiduciary Trust Co boosted its position in T. Rowe Price Group by 4.5% during the third quarter. Fiduciary Trust Co now owns 2,579 shares of the asset manager’s stock worth $265,000 after purchasing an additional 111 shares in the last quarter. Finally, 1834 Investment Advisors Co. grew its holdings in T. Rowe Price Group by 0.3% in the fourth quarter. 1834 Investment Advisors Co. now owns 37,490 shares of the asset manager’s stock valued at $3,838,000 after purchasing an additional 115 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Transactions at T. Rowe Price Group

In related news, VP Stephon A. Jackson sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total transaction of $307,680.00. Following the sale, the vice president owned 83,883 shares in the company, valued at approximately $8,603,040.48. This trade represents a 3.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group raised their price target on T. Rowe Price Group from $90.00 to $92.00 and gave the company a “sell” rating in a research report on Tuesday, June 30th. Jefferies Financial Group lowered their price objective on shares of T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating on the stock in a research note on Wednesday, April 8th. Morgan Stanley raised their target price on shares of T. Rowe Price Group from $105.00 to $109.00 and gave the company an “equal weight” rating in a report on Friday, June 26th. Keefe, Bruyette & Woods lifted their target price on shares of T. Rowe Price Group from $107.00 to $120.00 and gave the stock a “market perform” rating in a research report on Friday, July 10th. Finally, Zacks Research raised shares of T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $104.50.

T. Rowe Price Group Trading Down 0.7%

T. Rowe Price Group stock opened at $116.49 on Tuesday. The stock has a 50-day moving average price of $109.08 and a 200 day moving average price of $101.39. T. Rowe Price Group, Inc. has a 52 week low of $85.22 and a 52 week high of $121.17. The stock has a market cap of $24.96 billion, a PE ratio of 12.49, a P/E/G ratio of 4.23 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.15. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.23 EPS. On average, equities analysts predict that T. Rowe Price Group, Inc. will post 10.07 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 15th were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $5.20 annualized dividend and a dividend yield of 4.5%. T. Rowe Price Group’s dividend payout ratio is presently 55.73%.

T. Rowe Price Group Company 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.