Wesbanco Bank Inc. Takes $207,000 Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Wesbanco Bank Inc. acquired a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the fourth quarter, HoldingsChannel reports. The firm acquired 1,827 shares of the asset manager’s stock, valued at approximately $207,000.

Other hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its stake in T. Rowe Price Group by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock worth $745,169,000 after buying an additional 231,286 shares during the last quarter. Geode Capital Management LLC grew its stake in T. Rowe Price Group by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,515,198 shares of the asset manager’s stock worth $598,801,000 after buying an additional 25,481 shares during the last quarter. Provident Trust Co. grew its stake in T. Rowe Price Group by 0.3% during the 3rd quarter. Provident Trust Co. now owns 2,397,728 shares of the asset manager’s stock worth $261,185,000 after buying an additional 7,905 shares during the last quarter. Fisher Asset Management LLC grew its stake in T. Rowe Price Group by 2.6% during the 3rd quarter. Fisher Asset Management LLC now owns 1,861,454 shares of the asset manager’s stock worth $202,768,000 after buying an additional 47,998 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in T. Rowe Price Group by 4.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,375,306 shares of the asset manager’s stock worth $149,812,000 after buying an additional 53,997 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Activity

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was 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 owns 119,577 shares of the company’s stock, valued at approximately $14,749,822.95. The trade was a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of TROW stock opened at $114.21 on Friday. The stock has a fifty day moving average price of $117.31 and a 200 day moving average price of $112.81. The stock has a market cap of $25.37 billion, a PE ratio of 12.50, a P/E/G ratio of 1.68 and a beta of 1.43. T. Rowe Price Group, Inc. has a 1 year low of $100.49 and a 1 year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.21. The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. T. Rowe Price Group’s revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.17 earnings per share. As a group, equities research analysts predict that T. Rowe Price Group, Inc. will post 9.45 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 4.34%. The ex-dividend date was Friday, December 13th. T. Rowe Price Group’s payout ratio is 54.27%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on TROW shares. TD Cowen dropped their price target on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft increased their price objective on T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Keefe, Bruyette & Woods decreased their price objective on T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating for the company in a research report on Monday, January 13th. Morgan Stanley increased their price objective on T. Rowe Price Group from $129.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Friday, December 20th. Finally, The Goldman Sachs Group decreased their price objective on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a research report on Thursday, October 3rd. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, T. Rowe Price Group currently has a consensus rating of “Hold” and an average target price of $115.82.

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.