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

M&T Bank Corp trimmed its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 109,941 shares of the asset manager’s stock after selling 3,397 shares during the quarter. M&T Bank Corp’s holdings in T. Rowe Price Group were worth $11,840,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. OFI Invest Asset Management purchased a new stake in T. Rowe Price Group in the 3rd quarter valued at $25,000. Creative Financial Designs Inc. ADV lifted its stake in shares of T. Rowe Price Group by 83.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 106 shares during the last quarter. Park Place Capital Corp lifted its stake in shares of T. Rowe Price Group by 1,775.0% in the 4th quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 284 shares during the last quarter. Fortitude Family Office LLC acquired a new position in shares of T. Rowe Price Group in the 4th quarter valued at $33,000. Finally, NBC Securities Inc. acquired a new position in T. Rowe Price Group during the 3rd quarter worth about $39,000. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

T. Rowe Price Group Price Performance

Shares of TROW traded up $0.34 during mid-day trading on Friday, reaching $111.50. The company’s stock had a trading volume of 1,271,965 shares, compared to its average volume of 1,679,318. T. Rowe Price Group, Inc. has a 12-month low of $87.43 and a 12-month high of $132.76. The stock has a market cap of $24.90 billion, a PE ratio of 13.24, a price-to-earnings-growth ratio of 1.93 and a beta of 1.40. The company’s 50 day moving average is $115.20 and its 200 day moving average is $107.36.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.34. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the prior year, the business posted $1.69 EPS. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. As a group, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 8.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TROW has been the topic of several research reports. Citigroup increased their target price on T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Wells Fargo & Company increased their target price on T. Rowe Price Group from $105.00 to $108.00 and gave the stock an “underweight” rating in a research note on Friday, February 9th. UBS Group increased their target price on T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a research note on Friday, April 12th. JPMorgan Chase & Co. increased their target price on T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 16th. Finally, Keefe, Bruyette & Woods raised T. Rowe Price Group from an “underperform” rating to a “market perform” rating and increased their price target for the company from $106.00 to $120.00 in a research report on Thursday, April 11th. Four analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $112.10.

Insider Buying and Selling

In related news, Director Robert F. Maclellan sold 3,043 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $113.08, for a total transaction of $344,102.44. Following the transaction, the director now owns 34,635 shares in the company, valued at approximately $3,916,525.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,043 shares of T. Rowe Price Group stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $113.08, for a total value of $344,102.44. Following the transaction, the director now directly owns 34,635 shares in the company, valued at approximately $3,916,525.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Freeman A. Hrabowski III sold 8,740 shares of T. Rowe Price Group stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $118.32, for a total value of $1,034,116.80. Following the completion of the transaction, the director now owns 21,073 shares in the company, valued at $2,493,357.36. The disclosure for this sale can be found here. Insiders have sold 12,921 shares of company stock worth $1,500,133 in the last quarter. 2.00% of the stock is owned by insiders.

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.