Keybank National Association OH Has $12.94 Million Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Keybank National Association OH cut its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 4.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 140,828 shares of the asset manager's stock after selling 7,126 shares during the quarter. Keybank National Association OH owned about 0.06% of T. Rowe Price Group worth $12,938,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Curio Wealth LLC bought a new position in shares of T. Rowe Price Group in the 4th quarter valued at about $27,000. Ameriflex Group Inc. bought a new position in T. Rowe Price Group during the fourth quarter worth about $42,000. Smallwood Wealth Investment Management LLC acquired a new position in T. Rowe Price Group during the first quarter worth approximately $39,000. Summit Securities Group LLC acquired a new position in T. Rowe Price Group during the fourth quarter worth approximately $57,000. Finally, Park Square Financial Group LLC bought a new stake in T. Rowe Price Group in the fourth quarter valued at approximately $61,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Stock Up 1.3%

Shares of T. Rowe Price Group stock opened at $99.96 on Thursday. The stock has a market capitalization of $22.02 billion, a price-to-earnings ratio of 11.33, a price-to-earnings-growth ratio of 3.20 and a beta of 1.49. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81. The company has a 50-day simple moving average of $93.81 and a two-hundred day simple moving average of $100.07.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share for the quarter, beating analysts' consensus estimates of $2.13 by $0.10. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.80 billion. T. Rowe Price Group had a net margin of 28.38% and a return on equity of 20.17%. The firm's quarterly revenue was up .8% on a year-over-year basis. During the same period in the previous year, the business earned $2.38 earnings per share. On average, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were given a dividend of $1.27 per share. The ex-dividend date was Friday, June 13th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.08%. T. Rowe Price Group's payout ratio is 57.60%.

Insider Buying and Selling at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 968 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $96.98, for a total transaction of $93,876.64. Following the completion of the sale, the insider owned 13,611 shares of the company's stock, valued at approximately $1,319,994.78. This represents a 6.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total transaction of $190,860.00. Following the completion of the transaction, the vice president directly owned 44,789 shares in the company, valued at $4,274,214.27. This trade represents a 4.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on TROW shares. Cowen reiterated a "hold" rating on shares of T. Rowe Price Group in a research note on Monday, May 5th. Evercore ISI reduced their price objective on shares of T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating for the company in a research report on Friday, April 11th. Barclays increased their price objective on shares of T. Rowe Price Group from $85.00 to $90.00 and gave the company an "underweight" rating in a research report on Monday, May 5th. TD Cowen reduced their target price on shares of T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating for the company in a report on Wednesday, April 9th. Finally, Morgan Stanley upped their price target on shares of T. Rowe Price Group from $95.00 to $104.00 and gave the company an "equal weight" rating in a research note on Wednesday. Four research analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $94.91.

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.

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