Fifth Third Bancorp Has $3.45 Million Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Fifth Third Bancorp lessened its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROWFree Report) by 23.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,065 shares of the asset manager’s stock after selling 9,700 shares during the period. Fifth Third Bancorp’s holdings in T. Rowe Price Group were worth $3,453,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Clear Harbor Asset Management LLC grew its stake in shares of T. Rowe Price Group by 3.2% in the 4th quarter. Clear Harbor Asset Management LLC now owns 3,240 shares of the asset manager’s stock valued at $349,000 after buying an additional 100 shares in the last quarter. TCM Advisors LLC grew its stake in shares of T. Rowe Price Group by 1.5% in the 1st quarter. TCM Advisors LLC now owns 6,900 shares of the asset manager’s stock valued at $779,000 after buying an additional 100 shares in the last quarter. Caprock Group LLC grew its stake in shares of T. Rowe Price Group by 4.7% in the 4th quarter. Caprock Group LLC now owns 2,251 shares of the asset manager’s stock valued at $242,000 after buying an additional 101 shares in the last quarter. Asset Dedication LLC grew its stake in shares of T. Rowe Price Group by 35.2% in the 2nd quarter. Asset Dedication LLC now owns 396 shares of the asset manager’s stock valued at $45,000 after buying an additional 103 shares in the last quarter. Finally, Roundview Capital LLC grew its stake in shares of T. Rowe Price Group by 0.5% in the 3rd quarter. Roundview Capital LLC now owns 22,279 shares of the asset manager’s stock valued at $2,336,000 after buying an additional 105 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Analyst Ratings Changes

TROW has been the subject of several analyst reports. UBS Group boosted their target price on T. Rowe Price Group from $86.00 to $102.00 and gave the stock a “sell” rating in a report on Wednesday, January 10th. TD Cowen started coverage on T. Rowe Price Group in a report on Thursday, January 4th. They set an “underperform” rating and a $88.00 price target for the company. JPMorgan Chase & Co. upped their target price on T. Rowe Price Group from $90.00 to $94.00 and gave the company an “underweight” rating in a research note on Friday, February 9th. Wells Fargo & Company upped their target price on T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a research note on Friday, February 9th. Finally, StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Six research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $97.30.

Read Our Latest Analysis on TROW

T. Rowe Price Group Stock Performance

Shares of TROW stock opened at $118.55 on Wednesday. The stock’s fifty day moving average is $113.17 and its 200-day moving average is $105.88. The stock has a market capitalization of $26.51 billion, a PE ratio of 15.28, a PEG ratio of 2.40 and a beta of 1.40. T. Rowe Price Group, Inc. has a 52 week low of $87.43 and a 52 week high of $132.76.

T. Rowe Price Group (NASDAQ:TROWGet Free Report) last posted its quarterly earnings results on Thursday, February 8th. The asset manager reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.12. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. T. Rowe Price Group had a return on equity of 18.41% and a net margin of 27.69%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.74 earnings per share. As a group, 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 company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a $1.24 dividend. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.22. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $4.96 annualized dividend and a yield of 4.18%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 63.92%.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 8,740 shares of the stock in a transaction dated 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 of the company’s stock, valued at $2,493,357.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Jessica M. Hiebler sold 1,138 shares of the firm’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 sale, the insider now owns 14,113 shares of the company’s stock, valued at $1,511,925.69. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 21,073 shares in the company, valued at approximately $2,493,357.36. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

About T. Rowe Price Group

(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.

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

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