PNC Financial Services Group Inc. Sells 27,664 Shares of T. Rowe Price Group, Inc. $TROW

PNC Financial Services Group Inc. trimmed its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 582,625 shares of the asset manager’s stock after selling 27,664 shares during the period. PNC Financial Services Group Inc.’s holdings in T. Rowe Price Group were worth $56,223,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Wealthfront Advisers LLC boosted its holdings in T. Rowe Price Group by 109.2% in the 1st quarter. Wealthfront Advisers LLC now owns 69,326 shares of the asset manager’s stock valued at $6,369,000 after purchasing an additional 36,190 shares during the period. Commerzbank Aktiengesellschaft FI lifted its position in T. Rowe Price Group by 74.1% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 19,905 shares of the asset manager’s stock worth $1,829,000 after purchasing an additional 8,473 shares during the period. PARK CIRCLE Co raised its stake in shares of T. Rowe Price Group by 20.2% in the 1st quarter. PARK CIRCLE Co now owns 64,345 shares of the asset manager’s stock valued at $5,911,000 after buying an additional 10,800 shares in the last quarter. Apollon Wealth Management LLC increased its stake in T. Rowe Price Group by 56.8% in the first quarter. Apollon Wealth Management LLC now owns 12,228 shares of the asset manager’s stock valued at $1,123,000 after acquiring an additional 4,431 shares during the period. Finally, Level Four Advisory Services LLC boosted its holdings in T. Rowe Price Group by 4.2% during the first quarter. Level Four Advisory Services LLC now owns 102,084 shares of the asset manager’s stock valued at $9,379,000 after purchasing an additional 4,141 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TROW has been the subject of a number of analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of T. Rowe Price Group in a report on Wednesday, October 8th. Morgan Stanley raised their target price on T. Rowe Price Group from $125.00 to $126.00 and gave the company an “equal weight” rating in a research note on Monday, October 27th. JPMorgan Chase & Co. upped their target price on shares of T. Rowe Price Group from $109.00 to $111.00 and gave the stock an “underweight” rating in a research report on Monday, November 3rd. The Goldman Sachs Group increased their price objective on T. Rowe Price Group from $93.00 to $98.00 in a research report on Monday, November 3rd. Finally, Bank of America lifted their price objective on T. Rowe Price Group from $91.00 to $97.00 and gave the stock an “underperform” rating in a research report on Thursday, October 2nd. One investment 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 company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $109.31.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $105.01, for a total value of $324,480.90. Following the sale, the director owned 47,335 shares in the company, valued at approximately $4,970,648.35. The trade was a 6.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Down 1.0%

TROW opened at $103.72 on Friday. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $125.81. The stock has a market cap of $22.64 billion, a P/E ratio of 11.59, a P/E/G ratio of 5.61 and a beta of 1.51. The company has a fifty day simple moving average of $104.15 and a 200 day simple moving average of $101.14.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, October 31st. The asset manager reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.26. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.88 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 was up 6.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.57 earnings per share. On average, equities research analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be issued a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date is Monday, December 15th. T. Rowe Price Group’s payout ratio is 55.34%.

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.