Private Trust Co. NA Cuts Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Private Trust Co. NA lessened its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 48.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,970 shares of the asset manager’s stock after selling 1,849 shares during the quarter. Private Trust Co. NA’s holdings in T. Rowe Price Group were worth $223,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Addison Advisors LLC boosted 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 valued at $26,000 after purchasing an additional 93 shares in the last quarter. Y.D. More Investments Ltd grew its position 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 buying an additional 155 shares during the last quarter. Stonebridge Financial Group LLC bought a new position in shares of T. Rowe Price Group during the 4th quarter worth approximately $32,000. Advantage Trust Co lifted its position in 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 acquiring an additional 100 shares during the last quarter. Finally, True Wealth Design LLC acquired a new stake in T. Rowe Price Group in the third quarter valued at approximately $37,000. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Down 1.7 %

Shares of NASDAQ TROW opened at $103.88 on Tuesday. The firm has a market cap of $23.13 billion, a price-to-earnings ratio of 11.34, a price-to-earnings-growth ratio of 2.86 and a beta of 1.44. The company’s 50-day simple moving average is $111.51 and its 200-day simple moving average is $112.39. T. Rowe Price Group, Inc. has a 52-week low of $100.49 and a 52-week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) 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 last year, the firm earned $1.72 earnings per share. Equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 4.89%. 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. T. Rowe Price Group’s payout ratio is presently 55.46%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TROW. Evercore ISI upped their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. TD Cowen decreased their price target on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $113.00 price objective (up from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft upped their target price on T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Finally, Barclays reduced their price objective on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a research note on Thursday, February 6th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $114.09.

Insider Activity at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total transaction of $499,197.45. Following the transaction, the vice president now directly owns 119,577 shares in the company, valued at $14,749,822.95. The trade was a 3.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Arif Husain sold 4,112 shares of the company’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 completion of the sale, the vice president now owns 36,800 shares of the company’s stock, valued at approximately $4,021,136. The trade was a 10.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

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.