CNB Bank Sells 224 Shares of T. Rowe Price Group, Inc. $TROW

CNB Bank trimmed its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 24.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 686 shares of the asset manager’s stock after selling 224 shares during the period. CNB Bank’s holdings in T. Rowe Price Group were worth $66,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Invesco Ltd. increased its stake in T. Rowe Price Group by 43.2% in the 1st quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager’s stock worth $315,453,000 after buying an additional 1,035,865 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of T. Rowe Price Group by 7.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager’s stock worth $707,973,000 after purchasing an additional 519,075 shares in the last quarter. ARGA Investment Management LP raised its stake in T. Rowe Price Group by 3,807.3% during the 2nd quarter. ARGA Investment Management LP now owns 477,161 shares of the asset manager’s stock valued at $46,046,000 after purchasing an additional 464,949 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in T. Rowe Price Group in the 2nd quarter worth approximately $37,722,000. Finally, Vanguard Group Inc. lifted its holdings in T. Rowe Price Group by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 26,286,393 shares of the asset manager’s stock worth $2,414,931,000 after purchasing an additional 222,556 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $105.01, for a total transaction of $324,480.90. Following the completion of the transaction, the director owned 47,335 shares in the company, valued at $4,970,648.35. The trade was a 6.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.00% of the stock is currently owned by insiders.

T. Rowe Price Group Stock Up 1.0%

Shares of NASDAQ:TROW opened at $103.55 on Friday. The firm has a fifty day simple moving average of $105.34 and a two-hundred day simple moving average of $99.61. The stock has a market capitalization of $22.75 billion, a P/E ratio of 11.57, a PEG ratio of 5.68 and a beta of 1.50. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.09. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter last year, the firm earned $2.26 EPS. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. On average, analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 15th were given a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend was Monday, September 15th. T. Rowe Price Group’s dividend payout ratio is 56.76%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. TD Cowen lifted their price objective on shares of T. Rowe Price Group from $103.00 to $108.00 and gave the company a “hold” rating in a research report on Wednesday, October 8th. Morgan Stanley lifted their price target on shares of T. Rowe Price Group from $116.00 to $125.00 and gave the company a “positive” rating in a report on Monday, October 6th. Wells Fargo & Company boosted their price target on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Friday, July 11th. Jefferies Financial Group increased their price objective on shares of T. Rowe Price Group from $104.00 to $106.00 and gave the company a “hold” rating in a report on Tuesday, October 7th. Finally, Barclays lifted their target price on T. Rowe Price Group from $95.00 to $103.00 and gave the stock an “underweight” rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, ten have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $107.54.

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.