iA Global Asset Management Inc. Has $1.12 Million Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

iA Global Asset Management Inc. cut its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 18.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,888 shares of the asset manager’s stock after selling 2,217 shares during the quarter. iA Global Asset Management Inc.’s holdings in T. Rowe Price Group were worth $1,118,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Addison Advisors LLC raised its position in shares of T. Rowe Price Group by 67.4% during the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock worth $26,000 after purchasing an additional 93 shares during the period. Curio Wealth LLC acquired a new position in shares of T. Rowe Price Group during the fourth quarter worth approximately $27,000. Y.D. More Investments Ltd raised its position in shares of T. Rowe Price Group by 124.0% during the fourth 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 during the period. Stonebridge Financial Group LLC acquired a new position in shares of T. Rowe Price Group during the fourth quarter worth approximately $32,000. Finally, Advantage Trust Co raised its position in shares of T. Rowe Price Group by 48.8% during the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock worth $34,000 after purchasing an additional 100 shares during the period. 73.39% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Arif Husain sold 4,112 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total transaction of $449,318.24. Following the transaction, the vice president now owns 36,800 shares of the company’s stock, valued at $4,021,136. This represents a 10.05 % decrease in their position. The sale was disclosed in a filing 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 Price Performance

Shares of NASDAQ:TROW opened at $92.83 on Friday. The company 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 has a fifty day moving average price of $106.39 and a two-hundred day moving average price of $111.14. T. Rowe Price Group, Inc. has a 1 year low of $91.37 and a 1 year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. During the same period in the prior year, the company posted $1.72 earnings per share. Sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.47%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s dividend payout ratio is currently 55.46%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on TROW shares. Morgan Stanley lowered their target price on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating on the stock in a research report on Monday, February 24th. Wells Fargo & Company decreased their price target on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set 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 decreased their price target on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Finally, StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $114.09.

T. Rowe Price Group 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.