T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. decreased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 1.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 620,966 shares of the asset manager's stock after selling 10,613 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.28% of T. Rowe Price Group worth $70,225,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Addison Advisors LLC boosted its holdings in T. Rowe Price Group by 67.4% in the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager's stock valued at $26,000 after purchasing an additional 93 shares during the last quarter. Y.D. More Investments Ltd raised its position in shares of T. Rowe Price Group by 124.0% during the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager's stock valued at $32,000 after buying an additional 155 shares during the period. Stonebridge Financial Group LLC acquired a new position in T. Rowe Price Group in the fourth quarter valued at approximately $32,000. Advantage Trust Co grew its position in T. Rowe Price Group by 48.8% in the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager's stock worth $34,000 after acquiring an additional 100 shares during the period. Finally, True Wealth Design LLC purchased a new position in T. Rowe Price Group in the third quarter worth approximately $37,000. Hedge funds and other institutional investors own 73.39% of the company's stock.

Analysts Set New Price Targets

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

Remove Ads

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock traded down $3.02 during trading hours on Wednesday, reaching $93.28. 2,968,746 shares of the company were exchanged, compared to its average volume of 1,664,186. The firm has a market cap of $20.77 billion, a PE ratio of 10.18, a PEG ratio of 2.86 and a beta of 1.46. T. Rowe Price Group, Inc. has a 1 year low of $92.79 and a 1 year high of $125.81. The stock's fifty day moving average is $109.53 and its 200 day moving average is $111.97.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing the consensus estimate 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 in the previous year, the company posted $1.72 EPS. Research analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $1.27 dividend. This is a boost from T. Rowe Price Group's previous quarterly dividend of $1.24. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.08 annualized dividend and a yield of 5.45%. T. Rowe Price Group's dividend payout ratio (DPR) is 55.46%.

Insider Buying and Selling

In other news, VP Arif Husain sold 4,112 shares of the firm's 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 sale, the vice president now directly owns 36,800 shares in the company, valued at approximately $4,021,136. This trade represents a 10.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is owned by insiders.

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.