First National Trust Co Buys 10,287 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

First National Trust Co grew its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 22.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,807 shares of the asset manager's stock after purchasing an additional 10,287 shares during the period. First National Trust Co's holdings in T. Rowe Price Group were worth $6,311,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in TROW. Addison Advisors LLC boosted its holdings in T. Rowe Price Group by 67.4% during the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager's stock worth $26,000 after buying an additional 93 shares in the last quarter. Y.D. More Investments Ltd grew its holdings in shares of T. Rowe Price Group by 124.0% in the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager's stock worth $32,000 after acquiring an additional 155 shares during the last quarter. Stonebridge Financial Group LLC acquired a new stake in shares of T. Rowe Price Group during the fourth quarter worth $32,000. Advantage Trust Co lifted its holdings in shares of T. Rowe Price Group by 48.8% during the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager's stock valued at $34,000 after purchasing an additional 100 shares during the last quarter. Finally, True Wealth Design LLC acquired a new position in shares of T. Rowe Price Group in the 3rd quarter valued at $37,000. Institutional investors and hedge funds own 73.39% of the company's stock.

Wall Street Analyst Weigh In

TROW has been the topic of several recent analyst reports. Morgan Stanley cut their price objective on T. Rowe Price Group from $126.00 to $121.00 and set an "equal weight" rating on the stock in a report on Monday, February 24th. Barclays cut their price target on shares of T. Rowe Price Group from $113.00 to $105.00 and set an "underweight" rating on the stock in a report on Thursday, February 6th. StockNews.com lowered shares of T. Rowe Price Group from a "buy" rating to a "hold" rating in a research note on Sunday, February 2nd. Wells Fargo & Company cut their target price on shares of T. Rowe Price Group from $118.00 to $116.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 6th. Finally, Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $113.00 target price (up previously from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $114.09.

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Insiders Place Their Bets

In related news, VP Arif Husain sold 4,112 shares of T. Rowe Price Group stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value of $449,318.24. Following the transaction, the vice president now owns 36,800 shares in the company, valued at $4,021,136. This trade represents a 10.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.00% of the company's stock.

T. Rowe Price Group Trading Up 1.1 %

TROW stock traded up $1.00 during mid-day trading on Friday, hitting $93.04. The stock had a trading volume of 2,552,180 shares, compared to its average volume of 1,704,732. T. Rowe Price Group, Inc. has a 1-year low of $91.37 and a 1-year high of $125.81. The company has a fifty day moving average of $108.27 and a 200 day moving average of $111.62. The stock has a market capitalization of $20.71 billion, a price-to-earnings ratio of 10.16, a PEG ratio of 2.86 and a beta of 1.46.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 EPS for the quarter, missing analysts' consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same period last year, the company posted $1.72 earnings per share. As a group, sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a dividend of $1.27 per share. This is a positive change from T. Rowe Price Group's previous quarterly dividend of $1.24. This represents a $5.08 annualized dividend and a yield of 5.46%. The ex-dividend date of this dividend is Friday, March 14th. T. Rowe Price Group's dividend payout ratio (DPR) is 55.46%.

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.