T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by First Commonwealth Financial Corp PA

First Commonwealth Financial Corp PA reduced its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 7.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,726 shares of the asset manager’s stock after selling 147 shares during the quarter. First Commonwealth Financial Corp PA’s holdings in T. Rowe Price Group were worth $210,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Massmutual Trust Co. FSB ADV increased its stake in T. Rowe Price Group by 7.5% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,236 shares of the asset manager’s stock valued at $151,000 after purchasing an additional 86 shares during the last quarter. ST Germain D J Co. Inc. grew its position in T. Rowe Price Group by 0.3% during the first quarter. ST Germain D J Co. Inc. now owns 31,065 shares of the asset manager’s stock valued at $3,787,000 after acquiring an additional 88 shares during the period. MCF Advisors LLC grew its position in T. Rowe Price Group by 1.6% during the first quarter. MCF Advisors LLC now owns 5,953 shares of the asset manager’s stock valued at $726,000 after acquiring an additional 92 shares during the period. Paulson Wealth Management Inc. grew its position in T. Rowe Price Group by 4.9% during the first quarter. Paulson Wealth Management Inc. now owns 2,028 shares of the asset manager’s stock valued at $247,000 after acquiring an additional 95 shares during the period. Finally, Clear Harbor Asset Management LLC grew its position in T. Rowe Price Group by 3.2% during the fourth quarter. Clear Harbor Asset Management LLC now owns 3,240 shares of the asset manager’s stock valued at $349,000 after acquiring an additional 100 shares during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Jessica M. Hiebler sold 1,401 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $115.85, for a total value of $162,305.85. Following the transaction, the insider now owns 14,198 shares in the company, valued at $1,644,838.30. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,043 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $113.08, for a total transaction of $344,102.44. Following the sale, the director now owns 34,635 shares in the company, valued at $3,916,525.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jessica M. Hiebler sold 1,401 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $115.85, for a total value of $162,305.85. Following the sale, the insider now owns 14,198 shares in the company, valued at approximately $1,644,838.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,444 shares of company stock worth $740,408. 2.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on TROW shares. UBS Group boosted their price target on 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. TD Cowen boosted their price target on T. Rowe Price Group from $121.00 to $123.00 and gave the company a “hold” rating in a research report on Monday, July 8th. Morgan Stanley boosted their price target on T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 17th. Evercore ISI decreased 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 research report on Tuesday, April 30th. Finally, Citigroup upped their target price on T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $113.50.

T. Rowe Price Group Stock Down 3.0 %

Shares of NASDAQ TROW traded down $3.41 on Friday, hitting $112.08. The company had a trading volume of 1,972,332 shares, compared to its average volume of 1,297,146. T. Rowe Price Group, Inc. has a 12-month low of $87.43 and a 12-month high of $132.76. The business has a 50 day moving average of $116.57 and a two-hundred day moving average of $114.00. The firm has a market capitalization of $25.03 billion, a P/E ratio of 13.72, a PEG ratio of 1.66 and a beta of 1.42.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.01). T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same quarter last year, the firm posted $2.02 EPS. The company’s revenue was up 7.6% compared to the same quarter last year. On average, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 8.98 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Friday, June 14th were paid a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 4.43%. The ex-dividend date of this dividend was Friday, June 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is 58.91%.

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.