CNB Bank Sells 224 Shares of T. Rowe Price Group, Inc. $TROW

CNB Bank lessened its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 24.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 686 shares of the asset manager’s stock after selling 224 shares during the period. CNB Bank’s holdings in T. Rowe Price Group were worth $66,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Zions Bancorporation National Association UT bought a new position in T. Rowe Price Group in the 1st quarter worth about $27,000. Hexagon Capital Partners LLC grew its stake in T. Rowe Price Group by 44.8% in the first quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager’s stock worth $34,000 after purchasing an additional 113 shares in the last quarter. Smallwood Wealth Investment Management LLC purchased a new position in T. Rowe Price Group during the 1st quarter worth $39,000. Chilton Capital Management LLC bought a new stake in T. Rowe Price Group during the 1st quarter valued at $41,000. Finally, Cromwell Holdings LLC lifted its holdings in shares of T. Rowe Price Group by 3,483.3% in the 2nd quarter. Cromwell Holdings LLC now owns 430 shares of the asset manager’s stock worth $41,000 after buying an additional 418 shares during the period. Institutional investors own 73.39% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on TROW shares. Jefferies Financial Group raised their price target on T. Rowe Price Group from $104.00 to $106.00 and gave the company a “hold” rating in a research note on Tuesday, October 7th. Zacks Research upgraded shares of T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. Wells Fargo & Company upped their price target on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Friday, July 11th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of T. Rowe Price Group from $109.00 to $114.00 and gave the company a “hold” rating in a research note on Thursday, October 9th. Finally, Morgan Stanley boosted their price objective on shares of T. Rowe Price Group from $116.00 to $125.00 and gave the stock a “positive” rating in a research note on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, T. Rowe Price Group presently has an average rating of “Reduce” and a consensus target price of $107.54.

T. Rowe Price Group Stock Up 1.0%

Shares of T. Rowe Price Group stock opened at $103.55 on Friday. The company has a market cap of $22.75 billion, a P/E ratio of 11.57, a PEG ratio of 5.68 and a beta of 1.50. The firm’s 50 day moving average price is $105.34 and its 200-day moving average price is $99.61. T. Rowe Price Group, Inc. has a 52-week low of $77.85 and a 52-week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.09. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the prior year, the company posted $2.26 earnings per share. T. Rowe Price Group’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, equities research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 15th were paid a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 4.9%. The ex-dividend date was Monday, September 15th. T. Rowe Price Group’s payout ratio is 56.76%.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $105.01, for a total value of $324,480.90. Following the completion of the sale, the director directly owned 47,335 shares in the company, valued at approximately $4,970,648.35. This trade represents a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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.