M&T Bank Corp Trims Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

M&T Bank Corp trimmed its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,021 shares of the asset manager’s stock after selling 928 shares during the quarter. M&T Bank Corp’s holdings in T. Rowe Price Group were worth $12,216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Keystone Financial Services increased its stake in T. Rowe Price Group by 5.1% in the 3rd quarter. Keystone Financial Services now owns 1,885 shares of the asset manager’s stock worth $205,000 after buying an additional 92 shares in the last quarter. MCF Advisors LLC boosted its stake in shares of T. Rowe Price Group by 1.5% in the fourth quarter. MCF Advisors LLC now owns 6,226 shares of the asset manager’s stock worth $704,000 after acquiring an additional 93 shares during the period. Addison Advisors LLC grew its position in shares of T. Rowe Price Group by 67.4% during the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock worth $26,000 after purchasing an additional 93 shares in the last quarter. Strategy Asset Managers LLC raised its stake in T. Rowe Price Group by 4.6% during the 3rd quarter. Strategy Asset Managers LLC now owns 2,169 shares of the asset manager’s stock valued at $236,000 after purchasing an additional 95 shares during the period. Finally, Brooklyn Investment Group lifted its holdings in T. Rowe Price Group by 24.6% in the 4th quarter. Brooklyn Investment Group now owns 497 shares of the asset manager’s stock worth $56,000 after purchasing an additional 98 shares in the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Performance

NASDAQ TROW opened at $98.89 on Friday. The business’s 50 day moving average price is $110.47 and its 200-day moving average price is $112.16. T. Rowe Price Group, Inc. has a fifty-two week low of $98.70 and a fifty-two week high of $125.81. The company has a market cap of $22.02 billion, a P/E ratio of 10.80, a P/E/G ratio of 2.86 and a beta of 1.46.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. During the same quarter in the prior year, the firm posted $1.72 EPS. As a group, equities analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a $1.27 dividend. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 dividend on an annualized basis and a yield of 5.14%. The ex-dividend date is Friday, March 14th. T. Rowe Price Group’s dividend payout ratio is 55.46%.

Insiders Place Their Bets

In related news, VP Arif Husain sold 4,112 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value of $449,318.24. Following the transaction, the vice president now owns 36,800 shares of the company’s stock, valued at $4,021,136. This trade represents a 10.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the completion of the sale, the vice president now directly owns 119,577 shares of the company’s stock, valued at approximately $14,749,822.95. This trade represents a 3.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on TROW. Deutsche Bank Aktiengesellschaft increased their price objective on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a report on Monday, November 11th. Barclays cut their price objective on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a research report on Thursday, February 6th. Evercore ISI lifted their target price on T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Wells Fargo & Company dropped their price target on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Finally, StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $114.09.

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.