NBT Bank N A NY Has $3.45 Million Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

NBT Bank N A NY cut its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.3% during the first quarter, HoldingsChannel reports. The firm owned 37,544 shares of the asset manager’s stock after selling 883 shares during the period. NBT Bank N A NY’s holdings in T. Rowe Price Group were worth $3,449,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Amundi increased its position in T. Rowe Price Group by 30.1% in the 4th quarter. Amundi now owns 1,717,877 shares of the asset manager’s stock worth $194,064,000 after buying an additional 397,278 shares during the period. Schroder Investment Management Group grew its stake in shares of T. Rowe Price Group by 49.4% in the fourth quarter. Schroder Investment Management Group now owns 221,579 shares of the asset manager’s stock worth $25,229,000 after acquiring an additional 73,307 shares during the last quarter. Commonwealth Equity Services LLC increased its position in T. Rowe Price Group by 5.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 357,556 shares of the asset manager’s stock worth $40,436,000 after acquiring an additional 20,062 shares during the period. Resona Asset Management Co. Ltd. bought a new position in T. Rowe Price Group during the fourth quarter worth $9,590,000. Finally, GAMMA Investing LLC raised its stake in T. Rowe Price Group by 9,555.5% during the 1st quarter. GAMMA Investing LLC now owns 333,212 shares of the asset manager’s stock valued at $30,612,000 after purchasing an additional 329,761 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insiders Place Their Bets

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,955 shares of the stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $91.56, for a total transaction of $362,119.80. Following the sale, the director now owns 42,979 shares of the company’s stock, valued at $3,935,157.24. This represents a 8.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jessica M. Hiebler sold 968 shares of the business’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $96.98, for a total transaction of $93,876.64. Following the completion of the transaction, the insider now directly owns 13,611 shares of the company’s stock, valued at approximately $1,319,994.78. This represents a 6.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,923 shares of company stock valued at $646,856. 2.00% of the stock is currently owned by insiders.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $93.21 on Tuesday. The business’s fifty day moving average price is $91.91 and its two-hundred day moving average price is $102.07. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81. The stock has a market capitalization of $20.54 billion, a price-to-earnings ratio of 10.18, a price-to-earnings-growth ratio of 2.86 and a beta of 1.49.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, May 2nd. The asset manager reported $2.23 EPS for the quarter, beating the consensus estimate of $2.13 by $0.10. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.80 billion. T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.38 EPS. Research analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a $1.27 dividend. The ex-dividend date is Friday, June 13th. This represents a $5.08 dividend on an annualized basis and a yield of 5.45%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 57.60%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on TROW shares. Cowen restated a “hold” rating on shares of T. Rowe Price Group in a research report on Monday, May 5th. Wells Fargo & Company decreased their target price on T. Rowe Price Group from $116.00 to $98.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. Citigroup lowered their price target on T. Rowe Price Group from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Morgan Stanley raised their price objective on T. Rowe Price Group from $94.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 6th. Finally, The Goldman Sachs Group lowered their price objective on T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating on the stock in a research report on Monday, April 14th. Four analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $94.09.

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.