T. Rowe Price Group, Inc. (NASDAQ:TROW) Position Lowered by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. reduced its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 10.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,522 shares of the asset manager’s stock after selling 3,210 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in T. Rowe Price Group were worth $3,226,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Avantax Advisory Services Inc. increased its holdings in shares of T. Rowe Price Group by 15.2% in the 4th quarter. Avantax Advisory Services Inc. now owns 5,083 shares of the asset manager’s stock valued at $575,000 after acquiring an additional 669 shares during the last quarter. Hopwood Financial Services Inc. bought a new stake in T. Rowe Price Group during the fourth quarter valued at $412,000. EverSource Wealth Advisors LLC increased its stake in T. Rowe Price Group by 284.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,547 shares of the asset manager’s stock valued at $175,000 after purchasing an additional 1,145 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of T. Rowe Price Group by 53.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 5,518 shares of the asset manager’s stock worth $624,000 after buying an additional 1,929 shares during the last quarter. Finally, HighTower Advisors LLC boosted its holdings in shares of T. Rowe Price Group by 13.8% in the 4th quarter. HighTower Advisors LLC now owns 150,550 shares of the asset manager’s stock valued at $17,026,000 after buying an additional 18,212 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insider Activity

In related news, VP Arif Husain sold 4,112 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total transaction of $449,318.24. Following the completion of the transaction, the vice president now owns 36,800 shares of the company’s stock, valued at $4,021,136. This trade represents a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.00% of the stock is owned by insiders.

T. Rowe Price Group Stock Up 1.4 %

TROW stock opened at $94.31 on Tuesday. The company has a 50-day simple moving average of $107.87 and a 200 day simple moving average of $111.57. The company has a market capitalization of $21.00 billion, a P/E ratio of 10.30, a PEG ratio of 2.86 and a beta of 1.46. T. Rowe Price Group, Inc. has a fifty-two week low of $91.37 and a fifty-two week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same quarter last year, the business earned $1.72 earnings per share. Equities analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS 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. Shareholders of record on Friday, March 14th will be paid a dividend of $1.27 per share. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 dividend on an annualized basis and a yield of 5.39%. The ex-dividend date is Friday, March 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 55.46%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on TROW shares. Wells Fargo & Company dropped their price objective on shares of T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. Barclays dropped their price target on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a research report on Thursday, February 6th. Morgan Stanley reduced their price objective on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a research report on Monday, February 24th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $113.00 target price (up from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Finally, StockNews.com downgraded shares of 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 given a hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price 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.