PNC Financial Services Group Inc. Has $70.23 Million Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

PNC Financial Services Group Inc. decreased its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.7% during the 4th quarter, according to its most recent 13F filing with the Securities & 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.’s holdings in T. Rowe Price Group were worth $70,225,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Addison Advisors LLC raised its position 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 acquiring an additional 93 shares in the last quarter. Y.D. More Investments Ltd raised 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 valued at $32,000 after purchasing an additional 155 shares during the period. Stonebridge Financial Group LLC acquired a new stake in T. Rowe Price Group in the 4th quarter valued at about $32,000. Advantage Trust Co lifted its stake in T. Rowe Price Group by 48.8% in the 4th 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 bought a new position in T. Rowe Price Group during the third quarter worth about $37,000. Institutional investors own 73.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TROW. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $113.00 price objective (up previously from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Morgan Stanley decreased their price objective on shares of 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. Deutsche Bank Aktiengesellschaft raised their target price on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Finally, Wells Fargo & Company reduced their target price on shares of T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $114.09.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Arif Husain sold 4,112 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total transaction of $449,318.24. Following the sale, the vice president now directly owns 36,800 shares in the company, valued at $4,021,136. This represents a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the completion of the transaction, the vice president now owns 119,577 shares of the company’s stock, valued at $14,749,822.95. The trade was a 3.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

T. Rowe Price Group Stock Up 1.8 %

Shares of T. Rowe Price Group stock opened at $100.66 on Friday. The company has a 50-day simple moving average of $110.17 and a two-hundred day simple moving average of $112.12. T. Rowe Price Group, Inc. has a twelve month low of $97.26 and a twelve month high of $125.81. The stock has a market capitalization of $22.41 billion, a price-to-earnings ratio of 10.99, a price-to-earnings-growth ratio of 2.86 and a beta of 1.46.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. During the same quarter last year, the company earned $1.72 earnings per share. On average, sell-side analysts anticipate 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. Stockholders of record on Friday, March 14th will be given a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.05%. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend is Friday, March 14th. T. Rowe Price Group’s dividend payout ratio is presently 55.46%.

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.