PNC Financial Services Group Inc. Has $70.23 Million Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

PNC Financial Services Group Inc. trimmed its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 620,966 shares of the asset manager’s stock after selling 10,613 shares during the period. PNC Financial Services Group Inc. owned approximately 0.28% of T. Rowe Price Group worth $70,225,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in TROW. Robeco Institutional Asset Management B.V. grew its stake in shares of T. Rowe Price Group by 14.3% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 47,793 shares of the asset manager’s stock valued at $5,206,000 after purchasing an additional 5,980 shares during the period. QRG Capital Management Inc. boosted its stake in T. Rowe Price Group by 40.5% in the 3rd quarter. QRG Capital Management Inc. now owns 7,304 shares of the asset manager’s stock valued at $796,000 after buying an additional 2,105 shares in the last quarter. Principal Financial Group Inc. grew its position in T. Rowe Price Group by 2.8% in the third quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager’s stock valued at $30,062,000 after acquiring an additional 7,503 shares during the period. Capital Performance Advisors LLP acquired a new position in T. Rowe Price Group during the third quarter worth $47,000. Finally, CWA Asset Management Group LLC bought a new position in shares of T. Rowe Price Group during the third quarter valued at $5,007,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TROW has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft upped their target price on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $113.00 price objective (up from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Barclays cut their target price on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a research note on Thursday, February 6th. StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. Finally, Morgan Stanley cut their price objective on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a research report on Monday, February 24th. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $114.09.

T. Rowe Price Group Stock Up 1.8 %

Shares of TROW opened at $100.66 on Friday. The stock’s fifty day simple moving average is $110.17 and its 200-day simple moving average is $112.12. The firm has a market capitalization of $22.41 billion, a PE ratio of 10.99, a price-to-earnings-growth ratio of 2.86 and a beta of 1.46. T. Rowe Price Group, Inc. has a 12-month low of $97.26 and a 12-month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same period in the prior year, the firm earned $1.72 EPS. Analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $1.27 dividend. The ex-dividend date is Friday, March 14th. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.05%. T. Rowe Price Group’s dividend payout ratio is 55.46%.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, VP Arif Husain sold 4,112 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value of $449,318.24. Following the transaction, the vice president now owns 36,800 shares of the company’s stock, valued at approximately $4,021,136. The trade was a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the completion of the transaction, the vice president now owns 119,577 shares of the company’s stock, valued at $14,749,822.95. This trade represents a 3.27 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

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.