First National Trust Co Reduces Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

First National Trust Co reduced its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 14.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,170 shares of the asset manager’s stock after selling 8,468 shares during the quarter. First National Trust Co’s holdings in T. Rowe Price Group were worth $5,295,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Creative Financial Designs Inc. ADV lifted its holdings in T. Rowe Price Group by 83.5% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock worth $25,000 after buying an additional 106 shares during the last quarter. OFI Invest Asset Management bought a new position in T. Rowe Price Group during the third quarter worth $25,000. Park Place Capital Corp boosted its holdings in T. Rowe Price Group by 1,775.0% in the fourth quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock worth $32,000 after purchasing an additional 284 shares during the period. Fortitude Family Office LLC acquired a new position in T. Rowe Price Group in the fourth quarter worth $33,000. Finally, CVA Family Office LLC bought a new stake in T. Rowe Price Group during the fourth quarter valued at $39,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

Analyst Ratings Changes

TROW has been the topic of a number of recent research reports. UBS Group raised their price target on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a research report on Friday, April 12th. TD Cowen upgraded T. Rowe Price Group from a “sell” rating to a “hold” rating and lifted their target price for the company from $92.00 to $114.00 in a research note on Monday, April 8th. Evercore ISI lowered their target price on T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating for the company in a report on Tuesday. JPMorgan Chase & Co. raised their price target on T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. Finally, Wells Fargo & Company boosted their price objective on T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a research report on Friday, February 9th. Four equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat, T. Rowe Price Group has an average rating of “Hold” and an average target price of $112.10.

T. Rowe Price Group Stock Up 0.3 %

T. Rowe Price Group stock traded up $0.34 during mid-day trading on Friday, hitting $111.50. 1,271,965 shares of the company’s stock traded hands, compared to its average volume of 1,679,318. T. Rowe Price Group, Inc. has a one year low of $87.43 and a one year high of $132.76. The firm has a 50 day moving average price of $115.19 and a 200 day moving average price of $107.28. The company has a market cap of $24.90 billion, a PE ratio of 13.24, a price-to-earnings-growth ratio of 1.92 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.34. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.71 billion. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same period last year, the company earned $1.69 earnings per share. On average, analysts expect that T. Rowe Price Group, Inc. will post 8.75 earnings per share for the current fiscal year.

Insider Buying and Selling at T. Rowe Price Group

In other news, Director Freeman A. Hrabowski III sold 8,740 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $118.32, for a total value of $1,034,116.80. Following the completion of the sale, the director now directly owns 21,073 shares of the company’s stock, valued at approximately $2,493,357.36. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Freeman A. Hrabowski III sold 8,740 shares of T. Rowe Price Group stock in a transaction on Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the transaction, the director now directly owns 21,073 shares in the company, valued at approximately $2,493,357.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jessica M. Hiebler sold 1,138 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $107.13, for a total value of $121,913.94. Following the completion of the sale, the insider now owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,921 shares of company stock valued at $1,500,133. Company 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.