Commerzbank Aktiengesellschaft FI Trims Holdings in T. Rowe Price Group, Inc. $TROW

Commerzbank Aktiengesellschaft FI lowered its holdings 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 filing with the Securities and Exchange Commission (SEC). 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 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. TD Private Client Wealth LLC increased its stake in T. Rowe Price Group by 91.8% in the fourth quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 123 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of T. Rowe Price Group by 540.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock valued at $29,000 after buying an additional 238 shares during the last quarter. Canton Hathaway LLC acquired a new stake in shares of T. Rowe Price Group during the fourth quarter worth about $31,000. Sound Income Strategies LLC boosted its stake in shares of T. Rowe Price Group by 170.3% during the fourth quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock worth $32,000 after buying an additional 189 shares during the period. Finally, DV Equities LLC purchased a new position in shares of T. Rowe Price Group during the fourth quarter worth about $32,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Trading Down 0.7%

Shares of TROW opened at $116.49 on Tuesday. The stock’s 50 day moving average is $109.08 and its two-hundred day moving average is $101.39. T. Rowe Price Group, Inc. has a twelve month low of $85.22 and a twelve month high of $121.17. The firm has a market capitalization 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 issued its earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.37 by $0.15. The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.85 billion. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.23 EPS. On average, sell-side analysts predict that T. Rowe Price Group, Inc. will post 10.07 EPS for the current year.

T. Rowe Price Group Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on TROW shares. Jefferies Financial Group dropped their price target on T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating on the stock in a research report on Wednesday, April 8th. Keefe, Bruyette & Woods lifted their target price on T. Rowe Price Group from $107.00 to $120.00 and gave the company a “market perform” rating in a research note on Friday, July 10th. Evercore set a $121.00 target price on T. Rowe Price Group in a research note on Friday, July 10th. TD Cowen dropped their target price on T. Rowe Price Group from $108.00 to $107.00 and set a “hold” rating on the stock in a report on Monday. Finally, BMO Capital Markets upped their price target on T. Rowe Price Group from $98.00 to $110.00 and gave the stock a “market perform” rating in a research note on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $104.50.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total value of $307,680.00. Following the completion of the sale, the vice president owned 83,883 shares of the company’s stock, valued at approximately $8,603,040.48. This trade represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.60% of the company’s stock.

T. Rowe Price Group 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.