Fifth Third Bancorp Sells 9,700 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Fifth Third Bancorp trimmed its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROWFree Report) by 23.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 32,065 shares of the asset manager’s stock after selling 9,700 shares during the quarter. Fifth Third Bancorp’s holdings in T. Rowe Price Group were worth $3,453,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Union Savings Bank bought a new position in T. Rowe Price Group during the second quarter valued at $25,000. OFI Invest Asset Management bought a new position in shares of T. Rowe Price Group in the third quarter worth $25,000. Creative Financial Designs Inc. ADV boosted its holdings in shares of T. Rowe Price Group by 83.5% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock worth $25,000 after acquiring an additional 106 shares during the period. PCA Investment Advisory Services Inc. bought a new position in shares of T. Rowe Price Group in the second quarter worth $26,000. Finally, Fortitude Family Office LLC bought a new position in shares of T. Rowe Price Group in the fourth quarter worth $33,000. 73.39% of the stock is owned by institutional investors.

T. Rowe Price Group Trading Down 1.5 %

NASDAQ TROW opened at $118.55 on Wednesday. T. Rowe Price Group, Inc. has a 1-year low of $87.43 and a 1-year high of $132.76. The firm has a market cap of $26.51 billion, a PE ratio of 15.28, a price-to-earnings-growth ratio of 2.40 and a beta of 1.40. The stock has a 50-day moving average of $113.17 and a 200-day moving average of $105.88.

T. Rowe Price Group (NASDAQ:TROWGet Free Report) last announced its quarterly earnings results on Thursday, February 8th. The asset manager reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.12. T. Rowe Price Group had a return on equity of 18.41% and a net margin of 27.69%. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the previous year, the business earned $1.74 EPS. T. Rowe Price Group’s revenue was up 6.5% compared to the same quarter last year. As a group, equities research analysts forecast that T. Rowe Price Group, Inc. will post 7.75 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date was Thursday, March 14th. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.22. T. Rowe Price Group’s payout ratio is currently 63.92%.

Insider Activity at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 1,138 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $107.13, for a total transaction of $121,913.94. Following the transaction, the insider now owns 14,113 shares in the company, valued at approximately $1,511,925.69. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,138 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $107.13, for a total transaction of $121,913.94. Following the transaction, the insider now owns 14,113 shares in the company, valued at approximately $1,511,925.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $118.32, for a total value of $1,034,116.80. Following the transaction, the director now owns 21,073 shares in the company, valued at approximately $2,493,357.36. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. raised their price target on T. Rowe Price Group from $90.00 to $94.00 and gave the stock an “underweight” rating in a report on Friday, February 9th. Wells Fargo & Company increased their price objective on T. Rowe Price Group from $105.00 to $108.00 and gave the stock an “underweight” rating in a research report on Friday, February 9th. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. UBS Group increased their price objective on T. Rowe Price Group from $86.00 to $102.00 and gave the stock a “sell” rating in a research report on Wednesday, January 10th. Finally, Morgan Stanley increased their price objective on T. Rowe Price Group from $101.00 to $106.00 and gave the stock an “equal weight” rating in a research report on Friday, January 19th. Six investment analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $97.30.

View Our Latest Research Report on TROW

T. Rowe Price Group Company Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding TROW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for T. Rowe Price Group, Inc. (NASDAQ:TROWFree Report).

Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

Receive News & Ratings for T. Rowe Price Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for T. Rowe Price Group and related companies with MarketBeat.com's FREE daily email newsletter.