First Citizens Bank & Trust Co. Has $7.19 Million Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

First Citizens Bank & Trust Co. lessened its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 8.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 63,599 shares of the asset manager’s stock after selling 5,933 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in T. Rowe Price Group were worth $7,192,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC increased its position in T. Rowe Price Group by 7,992.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,067,655 shares of the asset manager’s stock worth $116,300,000 after purchasing an additional 1,054,461 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in T. Rowe Price Group by 382.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 398,175 shares of the asset manager’s stock worth $43,373,000 after buying an additional 315,581 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in T. Rowe Price Group by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock worth $745,169,000 after buying an additional 231,286 shares during the last quarter. AQR Capital Management LLC increased its holdings in T. Rowe Price Group by 77.2% in the second quarter. AQR Capital Management LLC now owns 451,237 shares of the asset manager’s stock worth $52,032,000 after buying an additional 196,565 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of T. Rowe Price Group by 45.1% during the 3rd quarter. Franklin Resources Inc. now owns 490,155 shares of the asset manager’s stock worth $53,760,000 after purchasing an additional 152,430 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Trading Up 0.7 %

Shares of T. Rowe Price Group stock opened at $114.21 on Friday. The company has a market cap of $25.37 billion, a price-to-earnings ratio of 12.50, a PEG ratio of 1.68 and a beta of 1.43. The company’s fifty day simple moving average is $117.22 and its 200-day simple moving average is $112.80. T. Rowe Price Group, Inc. has a 1 year low of $100.49 and a 1 year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same period last year, the business earned $2.17 earnings per share. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, research analysts forecast that T. Rowe Price Group, Inc. will post 9.45 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 4.34%. The ex-dividend date was Friday, December 13th. T. Rowe Price Group’s payout ratio is presently 54.27%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. TD Cowen dropped their price target on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Evercore ISI increased their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Morgan Stanley increased their price objective on T. Rowe Price Group from $129.00 to $132.00 and gave the company an “equal weight” rating in a report on Friday, December 20th. StockNews.com raised T. Rowe Price Group from a “hold” rating to a “buy” rating in a report on Saturday. Finally, JPMorgan Chase & Co. lowered their price target on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $115.82.

Insider Transactions at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the sale, the vice president now directly owns 119,577 shares in the company, valued at approximately $14,749,822.95. The trade was a 3.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is owned by insiders.

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.