CIBC Asset Management Inc Has $2.62 Million Position in T. Rowe Price Group Inc (TROW)

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CIBC Asset Management Inc increased its stake in shares of T. Rowe Price Group Inc (NASDAQ:TROW) by 6.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 22,599 shares of the asset manager’s stock after purchasing an additional 1,338 shares during the quarter. CIBC Asset Management Inc’s holdings in T. Rowe Price Group were worth $2,624,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of TROW. Sumitomo Mitsui Trust Holdings Inc. boosted its position in T. Rowe Price Group by 1.8% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 834,003 shares of the asset manager’s stock worth $96,819,000 after purchasing an additional 14,425 shares in the last quarter. World Asset Management Inc boosted its position in T. Rowe Price Group by 11.8% during the second quarter. World Asset Management Inc now owns 18,884 shares of the asset manager’s stock worth $2,192,000 after purchasing an additional 1,991 shares in the last quarter. Greenleaf Trust lifted its position in shares of T. Rowe Price Group by 40.4% in the second quarter. Greenleaf Trust now owns 3,906 shares of the asset manager’s stock valued at $453,000 after acquiring an additional 1,123 shares in the last quarter. Teacher Retirement System of Texas lifted its position in shares of T. Rowe Price Group by 22.6% in the first quarter. Teacher Retirement System of Texas now owns 132,593 shares of the asset manager’s stock valued at $14,316,000 after acquiring an additional 24,468 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of T. Rowe Price Group by 6.9% in the first quarter. Russell Investments Group Ltd. now owns 130,154 shares of the asset manager’s stock valued at $14,008,000 after acquiring an additional 8,452 shares in the last quarter. 70.32% of the stock is currently owned by hedge funds and other institutional investors.

Shares of T. Rowe Price Group stock opened at $116.27 on Thursday. T. Rowe Price Group Inc has a one year low of $81.61 and a one year high of $127.43. The company has a market cap of $28.28 billion, a P/E ratio of 17.67, a P/E/G ratio of 1.46 and a beta of 1.24.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Wednesday, July 25th. The asset manager reported $1.87 EPS for the quarter, topping the Zacks’ consensus estimate of $1.76 by $0.11. T. Rowe Price Group had a return on equity of 28.49% and a net margin of 31.67%. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter last year, the business posted $1.28 earnings per share. The firm’s revenue was up 13.4% compared to the same quarter last year. analysts forecast that T. Rowe Price Group Inc will post 7.23 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be given a dividend of $0.70 per share. The ex-dividend date is Thursday, September 13th. This represents a $2.80 dividend on an annualized basis and a yield of 2.41%. T. Rowe Price Group’s payout ratio is 51.57%.

Several equities analysts have recently weighed in on the company. BidaskClub downgraded T. Rowe Price Group from a “hold” rating to a “sell” rating in a research report on Saturday, August 18th. Deutsche Bank decreased their target price on T. Rowe Price Group from $136.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, August 16th. Zacks Investment Research downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Friday, August 10th. ValuEngine downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. Finally, Wells Fargo & Co raised their target price on T. Rowe Price Group from $114.00 to $124.00 and gave the company a “market perform” rating in a research report on Friday, July 13th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $118.27.

In related news, CEO William J. Stromberg sold 21,000 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, June 12th. The stock was sold at an average price of $125.48, for a total transaction of $2,635,080.00. Following the transaction, the chief executive officer now owns 539,020 shares in the company, valued at $67,636,229.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP W. Sharps Robert sold 36,000 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, June 12th. The stock was sold at an average price of $126.34, for a total value of $4,548,240.00. Following the transaction, the vice president now owns 487,917 shares in the company, valued at approximately $61,643,433.78. The disclosure for this sale can be found here. In the last quarter, insiders have sold 143,139 shares of company stock worth $17,756,528. 3.10% of the stock is currently owned by company insiders.

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.

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Want to see what other hedge funds are holding TROW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for T. Rowe Price Group Inc (NASDAQ:TROW).

Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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