T. Rowe Price Group, Inc. $TROW Shares Sold by First National Trust Co

First National Trust Co cut its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 12.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,682 shares of the asset manager’s stock after selling 3,158 shares during the quarter. First National Trust Co’s holdings in T. Rowe Price Group were worth $2,092,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of TROW. Invesco Ltd. grew its stake in shares of T. Rowe Price Group by 43.2% in the first quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager’s stock valued at $315,453,000 after buying an additional 1,035,865 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of T. Rowe Price Group by 7.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager’s stock valued at $707,973,000 after buying an additional 519,075 shares in the last quarter. ARGA Investment Management LP grew its stake in T. Rowe Price Group by 3,807.3% during the 2nd quarter. ARGA Investment Management LP now owns 477,161 shares of the asset manager’s stock worth $46,046,000 after purchasing an additional 464,949 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in T. Rowe Price Group during the 2nd quarter worth $37,722,000. Finally, Vanguard Group Inc. grew its stake in T. Rowe Price Group by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 26,286,393 shares of the asset manager’s stock worth $2,414,931,000 after purchasing an additional 222,556 shares in the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,090 shares of the business’s 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 of the company’s stock, valued at approximately $4,970,648.35. The trade was a 6.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.60% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW opened at $104.96 on Wednesday. The company has a market capitalization of $23.06 billion, a price-to-earnings ratio of 11.73, a price-to-earnings-growth ratio of 5.75 and a beta of 1.50. The business has a 50-day moving average of $105.28 and a two-hundred day moving average of $99.92. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81.

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

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be issued a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend is Monday, December 15th. T. Rowe Price Group’s payout ratio is 56.76%.

Wall Street Analyst Weigh In

Several research analysts recently commented on TROW shares. The Goldman Sachs Group boosted their target price on T. Rowe Price Group from $91.00 to $92.00 and gave the stock a “sell” rating in a research note on Friday, October 3rd. Evercore ISI boosted their target price on T. Rowe Price Group from $115.00 to $118.00 and gave the stock an “in-line” rating in a research note on Thursday, October 9th. Deutsche Bank Aktiengesellschaft boosted their target price on T. Rowe Price Group from $109.00 to $114.00 and gave the stock a “hold” rating in a research note on Thursday, October 9th. Keefe, Bruyette & Woods boosted their target price on T. Rowe Price Group from $112.00 to $115.00 and gave the stock a “hold” rating in a research note on Monday, October 13th. Finally, JPMorgan Chase & Co. boosted their target price on T. Rowe Price Group from $102.00 to $109.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, T. Rowe Price Group presently has an average rating of “Reduce” and a consensus target price of $107.62.

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.