First Citizens Bank & Trust Co. Trims Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

First Citizens Bank & Trust Co. reduced its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 8.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund 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.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Insight Folios Inc lifted its holdings in T. Rowe Price Group by 3.6% during the 3rd quarter. Insight Folios Inc now owns 2,612 shares of the asset manager’s stock worth $285,000 after buying an additional 90 shares during the last quarter. Keystone Financial Services lifted its stake in T. Rowe Price Group by 5.1% during the third quarter. Keystone Financial Services now owns 1,885 shares of the asset manager’s stock worth $205,000 after purchasing an additional 92 shares during the last quarter. MCF Advisors LLC lifted its position in shares of T. Rowe Price Group by 1.5% in the 4th quarter. MCF Advisors LLC now owns 6,226 shares of the asset manager’s stock worth $704,000 after buying an additional 93 shares during the last quarter. Nvwm LLC lifted its position in shares of T. Rowe Price Group by 2.2% in the 3rd quarter. Nvwm LLC now owns 4,496 shares of the asset manager’s stock worth $490,000 after buying an additional 95 shares during the last quarter. Finally, Strategy Asset Managers LLC lifted its position in shares of T. Rowe Price Group by 4.6% in the 3rd quarter. Strategy Asset Managers LLC now owns 2,169 shares of the asset manager’s stock worth $236,000 after buying an additional 95 shares during the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

T. Rowe Price Group Trading Up 0.7 %

Shares of T. Rowe Price Group stock opened at $114.21 on Friday. The company’s 50-day moving average price is $117.22 and its two-hundred day moving average price is $112.80. T. Rowe Price Group, Inc. has a 52 week low of $100.49 and a 52 week high of $125.81. The stock has a market cap of $25.37 billion, a PE ratio of 12.50, a price-to-earnings-growth ratio of 1.68 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.21. The company had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The firm’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.17 earnings per share. On average, equities analysts predict that T. Rowe Price Group, Inc. will post 9.45 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

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

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’s stock in a transaction 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 sale, the vice president now directly owns 119,577 shares of the company’s stock, valued at $14,749,822.95. The trade was a 3.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TROW shares. Evercore ISI raised their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Keefe, Bruyette & Woods cut their price target on T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating on the stock in a report on Monday, January 13th. Deutsche Bank Aktiengesellschaft raised their target price on T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research note on Monday, November 11th. TD Cowen cut their target price on 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. Finally, Morgan Stanley lifted their price objective on shares of T. Rowe Price Group from $129.00 to $132.00 and gave the company an “equal weight” rating in a research report on Friday, December 20th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $115.82.

About T. Rowe Price Group

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.