Todays Report: Today, T. Rowe Price Group Inc. (TROW) Position Decreased by British Columbia Investment Management Corp

Today, T. Rowe Price Group Inc. (TROW) Position Decreased by British Columbia Investment Management Corp

British Columbia Investment Management Corp cut its stake in shares of T. Rowe Price Group Inc. (NASDAQ:TROW) by 19.6% during the third quarter, Holdings Channel reports. The fund owned 163,004 shares of the company’s stock after selling 39,842 shares during the period. British Columbia Investment Management Corp’s holdings in T. Rowe Price Group were worth $10,840,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Schroder Investment Management Group raised its position in T. Rowe Price Group by 28.6% in the second quarter. Schroder Investment Management Group now owns 1,023,736 shares of the company’s stock valued at $74,702,000 after buying an additional 227,458 shares during the last quarter. Dean Investment Associates LLC raised its position in T. Rowe Price Group by 94.3% in the second quarter. Dean Investment Associates LLC now owns 17,555 shares of the company’s stock valued at $1,281,000 after buying an additional 8,521 shares during the last quarter. BlackRock Advisors LLC raised its position in T. Rowe Price Group by 1.9% in the second quarter. BlackRock Advisors LLC now owns 247,307 shares of the company’s stock valued at $18,046,000 after buying an additional 4,571 shares during the last quarter. First Manhattan Co. raised its position in T. Rowe Price Group by 219.9% in the second quarter. First Manhattan Co. now owns 110,673 shares of the company’s stock valued at $8,075,000 after buying an additional 76,073 shares during the last quarter. Finally, FirstMerit Bank N A Trustee raised its position in T. Rowe Price Group by 0.8% in the second quarter. FirstMerit Bank N A Trustee now owns 5,950 shares of the company’s stock valued at $434,000 after buying an additional 50 shares during the last quarter. 71.44% of the stock is owned by institutional investors and hedge funds.

Shares of T. Rowe Price Group Inc. (NASDAQ:TROW) traded up 0.20% during trading on Friday, reaching $74.43. 490,432 shares of the company’s stock traded hands. The company has a market capitalization of $18.12 billion, a price-to-earnings ratio of 16.79 and a beta of 1.21. The company has a 50 day moving average of $67.72 and a 200-day moving average of $70.23. T. Rowe Price Group Inc. has a 1-year low of $62.97 and a 1-year high of $79.00.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Thursday, October 27th. The company reported $1.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.18 by $0.01. The company earned $1.10 billion during the quarter, compared to analysts’ expectations of $1.08 billion. T. Rowe Price Group had a return on equity of 24.78% and a net margin of 26.71%. The firm’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.06 EPS. Equities analysts predict that T. Rowe Price Group Inc. will post $4.38 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 29th. Shareholders of record on Thursday, December 15th will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend is Tuesday, December 13th. T. Rowe Price Group’s dividend payout ratio is presently 49.54%.

TROW has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Tuesday, October 25th. Jefferies Group decreased their price target on shares of T. Rowe Price Group from $83.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, October 11th. Citigroup Inc. reiterated a “neutral” rating on shares of T. Rowe Price Group in a research note on Sunday, October 30th. UBS AG upgraded shares of T. Rowe Price Group from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $66.00 to $82.00 in a research note on Thursday, November 10th. Finally, Barclays PLC decreased their price target on shares of T. Rowe Price Group from $72.00 to $68.00 and set an “equal weight” rating for the company in a research note on Thursday, October 13th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $75.00.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services to individual and institutional investors in the sponsored T. Rowe Price mutual funds distributed in the United States and other investment portfolios. It operates through investment advisory business segment.

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