First National Trust Co Decreases Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

First National Trust Co decreased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 14.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,170 shares of the asset manager’s stock after selling 8,468 shares during the quarter. First National Trust Co’s holdings in T. Rowe Price Group were worth $5,295,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its position in T. Rowe Price Group by 2.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,900,101 shares of the asset manager’s stock worth $513,874,000 after buying an additional 134,839 shares in the last quarter. Morgan Stanley raised its holdings in shares of T. Rowe Price Group by 0.7% during the 3rd quarter. Morgan Stanley now owns 3,483,350 shares of the asset manager’s stock worth $365,299,000 after acquiring an additional 25,012 shares during the period. Northern Trust Corp boosted its position in shares of T. Rowe Price Group by 4.1% during the 3rd quarter. Northern Trust Corp now owns 2,356,132 shares of the asset manager’s stock valued at $247,088,000 after acquiring an additional 93,829 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of T. Rowe Price Group by 2.0% in the third quarter. Bank of New York Mellon Corp now owns 2,271,065 shares of the asset manager’s stock valued at $238,167,000 after purchasing an additional 44,175 shares during the period. Finally, Fisher Asset Management LLC increased its position in T. Rowe Price Group by 6.7% during the fourth quarter. Fisher Asset Management LLC now owns 1,752,005 shares of the asset manager’s stock worth $188,674,000 after purchasing an additional 109,653 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on TROW shares. TD Cowen upgraded shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and boosted their price objective for the company from $92.00 to $114.00 in a report on Monday, April 8th. UBS Group lifted their price objective on T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research note on Friday, April 12th. Evercore ISI decreased their target price on T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a research note on Tuesday. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Finally, Keefe, Bruyette & Woods raised shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and increased their price target for the stock from $106.00 to $120.00 in a research report on Thursday, April 11th. Four analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat.com, T. Rowe Price Group presently has a consensus rating of “Hold” and a consensus target price of $112.10.

T. Rowe Price Group Stock Up 0.3 %

NASDAQ TROW traded up $0.34 on Friday, hitting $111.50. 1,271,965 shares of the stock were exchanged, compared to its average volume of 1,679,318. T. Rowe Price Group, Inc. has a fifty-two week low of $87.43 and a fifty-two week high of $132.76. The company has a 50-day moving average price of $115.19 and a 200-day moving average price of $107.28. The company has a market cap of $24.90 billion, a PE ratio of 13.24, a PEG ratio of 1.92 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.34. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the previous year, the firm posted $1.69 earnings per share. The company’s revenue was up 13.8% compared to the same quarter last year. As a group, equities research analysts predict that T. Rowe Price Group, Inc. will post 8.75 EPS for the current fiscal year.

Insider Transactions at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 1,138 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $107.13, for a total transaction of $121,913.94. Following the completion of the sale, the insider now owns 14,113 shares in the company, valued at $1,511,925.69. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the transaction, the director now owns 21,073 shares of the company’s stock, valued at $2,493,357.36. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jessica M. Hiebler sold 1,138 shares of T. Rowe Price Group stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $107.13, for a total value of $121,913.94. Following the sale, the insider now owns 14,113 shares in the company, valued at approximately $1,511,925.69. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,921 shares of company stock valued at $1,500,133. 2.00% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Company 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.