First Commonwealth Financial Corp PA Has $210,000 Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

First Commonwealth Financial Corp PA reduced its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 7.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,726 shares of the asset manager’s stock after selling 147 shares during the quarter. First Commonwealth Financial Corp PA’s holdings in T. Rowe Price Group were worth $210,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. First United Bank & Trust bought a new stake in shares of T. Rowe Price Group during the fourth quarter valued at approximately $31,000. Park Place Capital Corp boosted its stake in T. Rowe Price Group by 1,775.0% in the fourth quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 284 shares during the last quarter. CVA Family Office LLC bought a new position in T. Rowe Price Group in the fourth quarter valued at approximately $39,000. Signature Resources Capital Management LLC bought a new position in T. Rowe Price Group in the fourth quarter valued at approximately $39,000. Finally, Scarborough Advisors LLC bought a new position in T. Rowe Price Group in the fourth quarter valued at approximately $47,000. 73.39% of the stock is owned by institutional investors.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total value of $234,000.00. Following the sale, the vice president now directly owns 34,710 shares in the company, valued at approximately $4,061,070. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total value of $234,000.00. Following the completion of the transaction, the vice president now owns 34,710 shares of the company’s stock, valued at approximately $4,061,070. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert F. Maclellan sold 3,043 shares of T. Rowe Price Group stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $113.08, for a total transaction of $344,102.44. Following the completion of the transaction, the director now directly owns 34,635 shares of the company’s stock, valued at approximately $3,916,525.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,444 shares of company stock worth $740,408. Insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

TROW has been the topic of a number of recent research reports. Citigroup raised their price objective on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. StockNews.com raised shares of T. Rowe Price Group from a “hold” rating to a “buy” rating in a research note on Wednesday, July 10th. Morgan Stanley raised their price objective on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 17th. Keefe, Bruyette & Woods lifted their price target on shares of T. Rowe Price Group from $120.00 to $121.00 and gave the stock a “market perform” rating in a research report on Friday, July 12th. Finally, Evercore ISI reduced their price target on shares of T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 30th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $113.50.

T. Rowe Price Group Stock Down 3.0 %

Shares of NASDAQ:TROW traded down $3.41 during midday trading on Friday, reaching $112.08. 1,972,332 shares of the company were exchanged, compared to its average volume of 1,297,146. T. Rowe Price Group, Inc. has a fifty-two week low of $87.43 and a fifty-two week high of $132.76. The stock has a fifty day simple moving average of $116.57 and a two-hundred day simple moving average of $114.00. The firm has a market cap of $25.03 billion, a PE ratio of 13.72, a P/E/G ratio of 1.66 and a beta of 1.42.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.01). T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same quarter in the previous year, the firm posted $2.02 earnings per share. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. As a group, analysts forecast that T. Rowe Price Group, Inc. will post 8.98 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Friday, June 14th were paid a $1.24 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $4.96 annualized dividend and a yield of 4.43%. T. Rowe Price Group’s payout ratio is currently 58.91%.

T. Rowe Price Group Company 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.