T. Rowe Price Group, Inc. $TROW Shares Bought by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. lifted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 141.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 175,885 shares of the asset manager’s stock after purchasing an additional 103,174 shares during the period. First Citizens Bank & Trust Co. owned 0.08% of T. Rowe Price Group worth $18,053,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in TROW. Sawgrass Asset Management LLC lifted its position in T. Rowe Price Group by 19.6% during the third quarter. Sawgrass Asset Management LLC now owns 2,928 shares of the asset manager’s stock worth $301,000 after buying an additional 479 shares in the last quarter. 1834 Investment Advisors Co. increased its stake in shares of T. Rowe Price Group by 27.3% in the 3rd quarter. 1834 Investment Advisors Co. now owns 37,375 shares of the asset manager’s stock worth $3,836,000 after acquiring an additional 8,010 shares during the last quarter. BAM Wealth Management LLC acquired a new stake in shares of T. Rowe Price Group in the 3rd quarter worth $286,000. PFG Investments LLC raised its holdings in shares of T. Rowe Price Group by 4.8% during the 3rd quarter. PFG Investments LLC now owns 2,249 shares of the asset manager’s stock worth $231,000 after acquiring an additional 102 shares during the period. Finally, ARGA Investment Management LP boosted its position in shares of T. Rowe Price Group by 19.2% during the 3rd quarter. ARGA Investment Management LP now owns 568,567 shares of the asset manager’s stock valued at $58,358,000 after acquiring an additional 91,406 shares during the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Arif Husain sold 4,260 shares of the business’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $101.96, for a total transaction of $434,349.60. Following the completion of the transaction, the vice president directly owned 47,102 shares of the company’s stock, valued at approximately $4,802,519.92. The trade was a 8.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Down 1.4%

T. Rowe Price Group stock opened at $105.63 on Friday. T. Rowe Price Group, Inc. has a 52-week low of $77.85 and a 52-week high of $118.32. The firm has a market cap of $23.05 billion, a PE ratio of 11.51, a price-to-earnings-growth ratio of 2.56 and a beta of 1.52. The company’s 50 day moving average is $103.93 and its two-hundred day moving average is $104.55.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, October 31st. The asset manager reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.26. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.88 billion. T. Rowe Price Group had a return on equity of 19.95% and a net margin of 28.89%.The company’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.57 earnings per share. On average, equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th were given a $1.27 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $5.08 dividend on an annualized basis and a yield of 4.8%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 55.34%.

Wall Street Analyst Weigh In

TROW has been the subject of several recent analyst reports. Barclays cut their target price on T. Rowe Price Group from $102.00 to $101.00 and set an “underweight” rating for the company in a research note on Thursday, January 15th. Citigroup raised their price objective on T. Rowe Price Group from $105.00 to $107.00 in a research report on Monday, November 3rd. The Goldman Sachs Group decreased their target price on shares of T. Rowe Price Group from $97.00 to $95.00 and set a “sell” rating on the stock in a research report on Wednesday, January 14th. Bank of America increased their target price on shares of T. Rowe Price Group from $85.00 to $86.00 in a research note on Wednesday, January 14th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of T. Rowe Price Group from $117.00 to $115.00 and set a “market perform” rating on the stock in a research note on Tuesday, December 16th. Eleven research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $107.31.

T. Rowe Price Group Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.