PNC Financial Services Group Inc. Has $51.32 Million Position in T. Rowe Price Group, Inc. $TROW

PNC Financial Services Group Inc. lessened its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 501,279 shares of the asset manager’s stock after selling 22,521 shares during the quarter. PNC Financial Services Group Inc.’s holdings in T. Rowe Price Group were worth $51,321,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TROW. Woodline Partners LP grew its position in T. Rowe Price Group by 41.0% in the first quarter. Woodline Partners LP now owns 18,809 shares of the asset manager’s stock worth $1,728,000 after acquiring an additional 5,467 shares in the last quarter. Focus Partners Wealth raised its holdings in shares of T. Rowe Price Group by 10.6% during the 1st quarter. Focus Partners Wealth now owns 13,054 shares of the asset manager’s stock valued at $1,199,000 after purchasing an additional 1,250 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of T. Rowe Price Group by 44.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,546 shares of the asset manager’s stock valued at $149,000 after purchasing an additional 478 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of T. Rowe Price Group in the 2nd quarter valued at $931,000. Finally, Daiwa Securities Group Inc. boosted its holdings in T. Rowe Price Group by 5.4% in the second quarter. Daiwa Securities Group Inc. now owns 33,245 shares of the asset manager’s stock worth $3,208,000 after purchasing an additional 1,703 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at T. Rowe Price Group

In related 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 value of $307,680.00. Following the completion of the transaction, the vice president directly owned 83,883 shares of the company’s stock, valued at $8,603,040.48. This trade represents a 3.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TROW. BMO Capital Markets raised their target price on T. Rowe Price Group from $98.00 to $110.00 and gave the company a “market perform” rating in a report on Monday, May 4th. Morgan Stanley set a $105.00 price target on T. Rowe Price Group in a research note on Monday, April 27th. Jefferies Financial Group lowered their price objective on T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating on the stock in a report on Wednesday, April 8th. Keefe, Bruyette & Woods raised their price objective on T. Rowe Price Group from $95.00 to $107.00 and gave the company a “market perform” rating in a research note on Friday, May 1st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of T. Rowe Price Group in a report on Friday, May 8th. Eleven equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $99.54.

T. Rowe Price Group Stock Up 0.1%

TROW stock opened at $101.95 on Friday. T. Rowe Price Group, Inc. has a twelve month low of $85.22 and a twelve month high of $118.22. The company has a market cap of $21.84 billion, a PE ratio of 10.93, a price-to-earnings-growth ratio of 4.45 and a beta of 1.51. The business’s 50-day simple moving average is $95.47 and its 200 day simple moving average is $99.15.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter in the prior year, the firm posted $2.23 EPS. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9.61 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date is Monday, June 15th. T. Rowe Price Group’s dividend payout ratio is presently 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.