T. Rowe Price Group Inc (TROW) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp lessened its position in T. Rowe Price Group Inc (NASDAQ:TROW) by 39.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 128,825 shares of the asset manager’s stock after selling 83,588 shares during the quarter. Mackenzie Financial Corp owned approximately 0.05% of T. Rowe Price Group worth $11,893,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TROW. Penserra Capital Management LLC purchased a new position in T. Rowe Price Group during the fourth quarter valued at $87,000. Canada Pension Plan Investment Board raised its stake in shares of T. Rowe Price Group by 870,600.0% in the fourth quarter. Canada Pension Plan Investment Board now owns 87,070 shares of the asset manager’s stock worth $8,038,000 after purchasing an additional 87,060 shares during the last quarter. Nicolet Bankshares Inc. raised its stake in shares of T. Rowe Price Group by 4.2% in the fourth quarter. Nicolet Bankshares Inc. now owns 4,885 shares of the asset manager’s stock worth $451,000 after purchasing an additional 195 shares during the last quarter. Dean Investment Associates LLC raised its stake in shares of T. Rowe Price Group by 9.4% in the fourth quarter. Dean Investment Associates LLC now owns 23,716 shares of the asset manager’s stock worth $2,190,000 after purchasing an additional 2,033 shares during the last quarter. Finally, Cerity Partners LLC raised its stake in shares of T. Rowe Price Group by 7.1% in the fourth quarter. Cerity Partners LLC now owns 30,342 shares of the asset manager’s stock worth $2,801,000 after purchasing an additional 2,023 shares during the last quarter. Institutional investors own 70.75% of the company’s stock.

In other T. Rowe Price Group news, VP Christopher D. Alderson sold 5,681 shares of the business’s stock in a transaction dated Monday, December 10th. The stock was sold at an average price of $92.22, for a total transaction of $523,901.82. Following the completion of the sale, the vice president now owns 118,818 shares of the company’s stock, valued at $10,957,395.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Edward C. Bernard sold 10,000 shares of the business’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $97.15, for a total value of $971,500.00. Following the sale, the insider now directly owns 651,532 shares of the company’s stock, valued at approximately $63,296,333.80. The disclosure for this sale can be found here. Insiders own 3.10% of the company’s stock.

NASDAQ:TROW opened at $98.18 on Thursday. T. Rowe Price Group Inc has a 52-week low of $84.59 and a 52-week high of $127.43. The stock has a market cap of $23.01 billion, a price-to-earnings ratio of 13.73, a P/E/G ratio of 1.63 and a beta of 1.02.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Wednesday, January 30th. The asset manager reported $1.41 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.66 by ($0.25). T. Rowe Price Group had a net margin of 33.95% and a return on equity of 29.16%. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the prior year, the firm posted $1.52 EPS. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, equities research analysts expect that T. Rowe Price Group Inc will post 6.19 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend is Thursday, March 14th. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $0.70. T. Rowe Price Group’s payout ratio is currently 39.16%.

Several research firms have recently weighed in on TROW. Citigroup decreased their price target on T. Rowe Price Group from $113.00 to $105.00 and set a “hold” rating for the company in a research note on Monday, October 29th. Credit Suisse Group cut their price objective on T. Rowe Price Group from $115.00 to $107.00 and set an “outperform” rating for the company in a report on Monday, January 14th. Zacks Investment Research lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Monday, October 29th. Goldman Sachs Group lowered T. Rowe Price Group from a “buy” rating to a “neutral” rating and set a $93.00 price objective for the company. in a report on Friday, January 4th. Finally, Barclays lifted their price objective on T. Rowe Price Group from $85.00 to $88.00 and gave the stock an “underweight” rating in a report on Tuesday. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $103.00.

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About T. Rowe Price Group

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

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