Fiduciary Trust Co Has $392,000 Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Fiduciary Trust Co raised its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 16.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,468 shares of the asset manager’s stock after buying an additional 485 shares during the quarter. Fiduciary Trust Co’s holdings in T. Rowe Price Group were worth $392,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Addison Advisors LLC increased its stake in T. Rowe Price Group by 67.4% in the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after buying an additional 93 shares during the period. Curio Wealth LLC bought a new stake in T. Rowe Price Group in the fourth quarter worth approximately $27,000. Y.D. More Investments Ltd grew its position in T. Rowe Price Group by 124.0% in the fourth quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock worth $32,000 after acquiring an additional 155 shares in the last quarter. Stonebridge Financial Group LLC bought a new stake in T. Rowe Price Group in the fourth quarter worth approximately $32,000. Finally, Advantage Trust Co grew its position in T. Rowe Price Group by 48.8% in the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock worth $34,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Barclays boosted their target price on shares of T. Rowe Price Group from $85.00 to $90.00 and gave the stock an “underweight” rating in a research report on Monday, May 5th. TD Cowen decreased 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 research report on Wednesday, April 9th. The Goldman Sachs Group decreased their target price on shares of T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating for the company in a research report on Monday, April 14th. Evercore ISI decreased 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 report on Friday, April 11th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $113.00 price objective (up from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Four equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the company’s stock. According to MarketBeat, T. Rowe Price Group has an average rating of “Hold” and an average target price of $94.09.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock opened at $92.74 on Monday. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81. The firm has a fifty day moving average price of $90.62 and a two-hundred day moving average price of $106.22. The company has a market cap of $20.43 billion, a PE ratio of 10.12, a price-to-earnings-growth ratio of 2.86 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last issued 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. T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the prior year, the firm earned $2.38 EPS. The business’s revenue was up .8% on a year-over-year basis. Analysts expect 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.48%. T. Rowe Price Group’s dividend payout ratio is 57.60%.

Insider Activity

In other news, Director Robert F. Maclellan sold 3,955 shares of the stock in a transaction on Monday, March 31st. The shares were sold at an average price of $91.56, for a total value of $362,119.80. Following the completion of the transaction, the director now owns 42,979 shares in the company, valued at approximately $3,935,157.24. This represents a 8.43% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Arif Husain sold 4,112 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total transaction of $449,318.24. Following the completion of the transaction, the vice president now owns 36,800 shares of the company’s stock, valued at approximately $4,021,136. This represents a 10.05% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

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.