Caisse DE Depot ET Placement DU Quebec Decreases Holdings in T. Rowe Price Group, Inc. $TROW

Key Points

• Caisse DE Depot ET Placement DU Quebec reduced its holdings in T. Rowe Price Group by 2.5%, owning 504,075 shares after selling 12,754 shares in the 1st quarter.
• In contrast, several other institutional investors including Vanguard Group Inc. and Invesco Ltd. increased their positions, indicating strong institutional interest in T. Rowe Price Group.
• T. Rowe Price recently declared a quarterly dividend of $1.27, representing a 4.7% yield based on an annualized payout of $5.08.

Caisse DE Depot ET Placement DU Quebec reduced its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 2.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 504,075 shares of the asset manager's stock after selling 12,754 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned about 0.23% of T. Rowe Price Group worth $46,309,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TROW. Cooper Financial Group grew its stake in shares of T. Rowe Price Group by 5.2% in the 1st quarter. Cooper Financial Group now owns 2,234 shares of the asset manager's stock worth $205,000 after buying an additional 110 shares in the last quarter. Hexagon Capital Partners LLC lifted its holdings in shares of T. Rowe Price Group by 44.8% in the 1st quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager's stock valued at $34,000 after acquiring an additional 113 shares during the last quarter. Associated Banc Corp grew its position in T. Rowe Price Group by 0.5% in the first quarter. Associated Banc Corp now owns 24,864 shares of the asset manager's stock worth $2,284,000 after acquiring an additional 114 shares in the last quarter. Wealthcare Capital Partners LLC increased its stake in T. Rowe Price Group by 1.2% during the first quarter. Wealthcare Capital Partners LLC now owns 9,429 shares of the asset manager's stock worth $866,000 after acquiring an additional 115 shares during the last quarter. Finally, Cullen Investment Group LTD. raised its position in T. Rowe Price Group by 0.9% during the first quarter. Cullen Investment Group LTD. now owns 13,554 shares of the asset manager's stock valued at $1,245,000 after purchasing an additional 117 shares during the period. Institutional investors own 73.39% of the company's stock.

Insider Activity at T. Rowe Price Group

In other news, VP Dorothy C. Sawyer sold 2,000 shares of the firm's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total value of $190,860.00. Following the sale, the vice president directly owned 44,789 shares in the company, valued at approximately $4,274,214.27. This trade represents a 4.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.00% of the company's stock.

T. Rowe Price Group Stock Down 1.0%

TROW stock traded down $1.09 during trading on Thursday, hitting $108.28. 976,282 shares of the company's stock traded hands, compared to its average volume of 1,435,618. The firm has a market capitalization of $23.79 billion, a P/E ratio of 12.10, a PEG ratio of 2.85 and a beta of 1.47. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81. The business has a fifty day simple moving average of $103.41 and a two-hundred day simple moving average of $97.55.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.09. The business had revenue of $1.72 billion for the quarter, compared to analysts' expectations of $1.72 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The business's revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the firm earned $2.26 EPS. On average, equities research analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be given a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend is Monday, September 15th. T. Rowe Price Group's dividend payout ratio is presently 56.76%.

Wall Street Analyst Weigh In

TROW has been the topic of several recent research reports. Morgan Stanley increased their price target on T. Rowe Price Group from $112.00 to $116.00 and gave the company an "equal weight" rating in a report on Monday, August 4th. Keefe, Bruyette & Woods increased their price objective on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the stock a "market perform" rating in a research report on Monday, August 4th. JPMorgan Chase & Co. boosted their target price on T. Rowe Price Group from $98.00 to $102.00 and gave the company an "underweight" rating in a research report on Monday, August 4th. Barclays reiterated an "underweight" rating and issued a $95.00 price target (up from $91.00) on shares of T. Rowe Price Group in a report on Monday, August 4th. Finally, Evercore ISI boosted their price objective on T. Rowe Price Group from $106.00 to $110.00 and gave the company an "in-line" rating in a report on Monday, August 4th. Eight research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat, T. Rowe Price Group currently has an average rating of "Reduce" and a consensus target price of $101.09.

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.