Connor Clark & Lunn Investment Management Ltd. Sells 26,615 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Connor Clark & Lunn Investment Management Ltd. decreased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 45.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,732 shares of the asset manager’s stock after selling 26,615 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in T. Rowe Price Group were worth $3,457,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of TROW. Victory Capital Management Inc. increased its holdings in shares of T. Rowe Price Group by 3.8% in the second quarter. Victory Capital Management Inc. now owns 3,436,019 shares of the asset manager’s stock valued at $396,207,000 after purchasing an additional 124,686 shares in the last quarter. American Century Companies Inc. boosted its position in shares of T. Rowe Price Group by 4.5% during the second quarter. American Century Companies Inc. now owns 2,512,793 shares of the asset manager’s stock worth $289,750,000 after purchasing an additional 107,086 shares in the last quarter. Provident Trust Co. lifted its position in T. Rowe Price Group by 0.3% in the 3rd quarter. Provident Trust Co. now owns 2,397,728 shares of the asset manager’s stock valued at $261,185,000 after acquiring an additional 7,905 shares in the last quarter. ProShare Advisors LLC lifted its position in T. Rowe Price Group by 2.5% in the 2nd quarter. ProShare Advisors LLC now owns 1,635,519 shares of the asset manager’s stock valued at $188,592,000 after acquiring an additional 40,490 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in T. Rowe Price Group by 15.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager’s stock valued at $185,810,000 after acquiring an additional 220,105 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction on Friday, September 6th. The shares were sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the completion of the transaction, the vice president now owns 123,624 shares of the company’s stock, valued at $12,712,255.92. This trade represents a 8.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction on Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the transaction, the insider now directly owns 13,939 shares of the company’s stock, valued at $1,459,831.47. This represents a 3.36 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $119.84 on Monday. The company has a market cap of $26.62 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 1.68 and a beta of 1.41. The firm has a 50 day simple moving average of $112.20 and a 200 day simple moving average of $112.44. T. Rowe Price Group, Inc. has a one year low of $96.48 and a one year high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, beating the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the prior year, the firm earned $2.17 EPS. The firm’s revenue was up 6.9% compared to the same quarter last year. As a group, analysts expect that T. Rowe Price Group, Inc. will post 9.33 EPS for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.14%. The ex-dividend date of this dividend is Friday, December 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 54.27%.

Wall Street Analysts Forecast Growth

TROW has been the topic of several recent research reports. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Evercore ISI boosted their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. TD Cowen decreased their price target on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Morgan Stanley boosted their price objective on shares of T. Rowe Price Group from $127.00 to $129.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Finally, The Goldman Sachs Group cut their price objective on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a report on Thursday, October 3rd. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $115.55.

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.