PNC Financial Services Group Inc. Has $42.09 Million Stake in T. Rowe Price Group, Inc. $TROW

PNC Financial Services Group Inc. lowered its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 6.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 466,890 shares of the asset manager’s stock after selling 34,389 shares during the period. PNC Financial Services Group Inc.’s holdings in T. Rowe Price Group were worth $42,086,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TROW. TD Private Client Wealth LLC boosted its stake in shares of T. Rowe Price Group by 91.8% during the 4th quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock worth $26,000 after buying an additional 123 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of T. Rowe Price Group by 540.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock valued at $29,000 after acquiring an additional 238 shares in the last quarter. Canton Hathaway LLC acquired a new stake in shares of T. Rowe Price Group in the fourth quarter valued at about $31,000. Sound Income Strategies LLC increased its position in shares of T. Rowe Price Group by 170.3% in the fourth quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 189 shares during the last quarter. Finally, DV Equities LLC bought a new stake in T. Rowe Price Group during the fourth quarter worth about $32,000. 73.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on TROW shares. Evercore set a $121.00 price target on T. Rowe Price Group in a research report on Friday, July 10th. Morgan Stanley boosted their price target on T. Rowe Price Group from $105.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Friday, June 26th. Jefferies Financial Group dropped their price objective on T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating on the stock in a research note on Wednesday, April 8th. The Goldman Sachs Group increased their price objective on T. Rowe Price Group from $90.00 to $92.00 and gave the company a “sell” rating in a report on Tuesday, June 30th. Finally, Keefe, Bruyette & Woods raised their target price on shares of T. Rowe Price Group from $107.00 to $120.00 and gave the company a “market perform” rating in a research note on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $104.50.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total transaction of $307,680.00. Following the completion of the sale, the vice president owned 83,883 shares of the company’s stock, valued at $8,603,040.48. This trade represents a 3.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.60% of the company’s stock.

T. Rowe Price Group Stock Down 0.9%

Shares of NASDAQ TROW opened at $114.95 on Friday. The business’s 50 day moving average price is $109.89 and its two-hundred day moving average price is $101.67. The company has a market cap of $24.63 billion, a PE ratio of 12.32, a price-to-earnings-growth ratio of 4.16 and a beta of 1.47. T. Rowe Price Group, Inc. has a twelve month low of $85.22 and a twelve month high of $121.17.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.15. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same period last year, the firm posted $2.23 earnings per share. The business’s revenue was up 5.3% on a year-over-year basis. As a group, research analysts anticipate that T. Rowe Price Group, Inc. will post 10.12 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 15th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date was Monday, June 15th. T. Rowe Price Group’s dividend payout ratio is 55.73%.

T. Rowe Price Group Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.