31,534 Shares of T. Rowe Price Group, Inc. $TROW Purchased by NBT Bank N.A.

NBT Bank N.A. acquired a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 31,534 shares of the asset manager’s stock, valued at approximately $3,281,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in shares of T. Rowe Price Group in the 2nd quarter valued at approximately $2,728,119,000. State Street Corp increased its holdings in shares of T. Rowe Price Group by 2.7% in the second quarter. State Street Corp now owns 14,653,478 shares of the asset manager’s stock valued at $1,665,954,000 after purchasing an additional 381,183 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of T. Rowe Price Group by 20.0% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,150,561 shares of the asset manager’s stock valued at $358,187,000 after purchasing an additional 524,544 shares during the period. First Trust Advisors LP raised its stake in shares of T. Rowe Price Group by 12.6% during the first quarter. First Trust Advisors LP now owns 3,694,171 shares of the asset manager’s stock worth $332,993,000 after purchasing an additional 413,317 shares during the last quarter. Finally, Provident Trust Co. raised its stake in shares of T. Rowe Price Group by 0.4% during the second quarter. Provident Trust Co. now owns 2,061,353 shares of the asset manager’s stock worth $234,355,000 after purchasing an additional 8,524 shares during the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Trading Up 0.2%

NASDAQ TROW opened at $103.45 on Friday. The business’s 50 day moving average is $106.45 and its two-hundred day moving average is $107.13. T. Rowe Price Group, Inc. has a 12-month low of $85.22 and a 12-month high of $122.00. The stock has a market capitalization of $22.07 billion, a price-to-earnings ratio of 9.99, a PEG ratio of 3.02 and a beta of 1.45.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.05. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.24 EPS. Equities analysts forecast that T. Rowe Price Group, Inc. will post 10.10 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th were given a $1.30 dividend. The ex-dividend date was Tuesday, September 15th. This represents a $5.20 annualized dividend and a yield of 5.0%. T. Rowe Price Group’s dividend payout ratio is presently 52.16%.

Analysts Set New Price Targets

Several brokerages recently weighed in on TROW. Morgan Stanley decreased their price target on T. Rowe Price Group from $116.00 to $110.00 and set an “equal weight” rating for the company in a report on Friday, September 25th. BMO Capital Markets dropped their price objective on shares of T. Rowe Price Group from $120.00 to $110.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 13th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $109.00 price objective on shares of T. Rowe Price Group in a research report on Monday, August 3rd. UBS Group started coverage on shares of T. Rowe Price Group in a research note on Wednesday, October 7th. They issued a “neutral” rating and a $107.00 target price for the company. Finally, TD Cowen lowered their target price on shares of T. Rowe Price Group from $110.00 to $109.00 and set a “hold” rating on the stock in a report on Monday, October 12th. One research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $104.08.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Joshua Nelson sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $111.82, for a total value of $1,118,200.00. Following the completion of the sale, the vice president owned 71,328 shares of the company’s stock, valued at approximately $7,975,896.96. This trade represents a 12.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.60% of the company’s stock.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland. Founded in 1937 by Thomas Rowe Price Jr., the company provides investment strategies and advisory services to individual investors, retirement plans, financial intermediaries, institutions and other clients.

The company offers a range of actively managed and multi-asset investment products, including mutual funds, exchange-traded funds, separately managed accounts and other portfolio solutions.