T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Provident Trust Co.

Provident Trust Co. cut its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,339,544 shares of the asset manager’s stock after selling 22,106 shares during the period. T. Rowe Price Group comprises approximately 5.2% of Provident Trust Co.’s investment portfolio, making the stock its 9th biggest position. Provident Trust Co. owned approximately 1.05% of T. Rowe Price Group worth $251,945,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of TROW. Simmons Bank increased its holdings in T. Rowe Price Group by 23.0% in the third quarter. Simmons Bank now owns 3,503 shares of the asset manager’s stock valued at $367,000 after purchasing an additional 656 shares during the period. L. Roy Papp & Associates LLP increased its holdings in T. Rowe Price Group by 5.8% in the fourth quarter. L. Roy Papp & Associates LLP now owns 158,875 shares of the asset manager’s stock valued at $17,109,000 after purchasing an additional 8,773 shares during the period. Nordea Investment Management AB increased its holdings in T. Rowe Price Group by 3.5% in the fourth quarter. Nordea Investment Management AB now owns 317,349 shares of the asset manager’s stock valued at $34,299,000 after purchasing an additional 10,680 shares during the period. Vest Financial LLC increased its holdings in T. Rowe Price Group by 48.8% in the fourth quarter. Vest Financial LLC now owns 280,552 shares of the asset manager’s stock valued at $30,213,000 after purchasing an additional 92,059 shares during the period. Finally, Cullen Investment Group LTD. acquired a new stake in T. Rowe Price Group in the fourth quarter valued at $953,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on the stock. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. UBS Group upped their price target on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research report on Friday, April 12th. Citigroup upped their price target on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. JPMorgan Chase & Co. upped their price target on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a research report on Tuesday, April 16th. Finally, Keefe, Bruyette & Woods raised shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and increased their price objective for the stock from $106.00 to $120.00 in a research report on Thursday, April 11th. Four investment analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $112.67.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,138 shares of the firm’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 transaction, the insider now directly owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 shares were sold at an average price of $118.32, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jessica M. Hiebler sold 1,138 shares of T. Rowe Price Group stock in a transaction on Friday, February 9th. The stock was sold at an average price of $107.13, for a total transaction of $121,913.94. Following the sale, the insider now directly owns 14,113 shares of the company’s stock, valued at $1,511,925.69. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Trading Up 4.8 %

Shares of TROW stock traded up $5.19 during trading hours on Friday, hitting $114.02. 2,943,278 shares of the company were exchanged, compared to its average volume of 1,335,708. The firm has a fifty day simple moving average of $115.10 and a 200 day simple moving average of $107.07. T. Rowe Price Group, Inc. has a 52-week low of $87.43 and a 52-week high of $132.76. The stock has a market capitalization of $25.50 billion, a price-to-earnings ratio of 14.69, a P/E/G ratio of 2.04 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, topping the consensus estimate of $2.04 by $0.34. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.71 billion. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.41%. T. Rowe Price Group’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same period last year, the firm earned $1.69 EPS. Sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 8.36 EPS for the current year.

T. Rowe Price Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.35%. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.22. The ex-dividend date was Thursday, March 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 63.92%.

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.