Security National Bank of Sioux City Iowa IA Decreases Holdings in T. Rowe Price Group, Inc. (TROW)

Security National Bank of Sioux City Iowa IA reduced its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,343 shares of the asset manager’s stock after selling 20 shares during the quarter. Security National Bank of Sioux City Iowa IA’s holdings in T. Rowe Price Group were worth $1,064,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TROW. Russell Investments Group Ltd. boosted its stake in T. Rowe Price Group by 11.2% during the 1st quarter. Russell Investments Group Ltd. now owns 40,642 shares of the asset manager’s stock valued at $2,771,000 after purchasing an additional 4,086 shares in the last quarter. Aberdeen Asset Management PLC UK boosted its stake in shares of T. Rowe Price Group by 13.0% during the 1st quarter. Aberdeen Asset Management PLC UK now owns 58,707 shares of the asset manager’s stock worth $4,001,000 after acquiring an additional 6,739 shares in the last quarter. Roof Eidam & Maycock ADV bought a new stake in shares of T. Rowe Price Group during the 1st quarter worth $1,470,000. M&T Bank Corp boosted its stake in shares of T. Rowe Price Group by 8.6% during the 1st quarter. M&T Bank Corp now owns 342,815 shares of the asset manager’s stock worth $23,364,000 after acquiring an additional 27,185 shares in the last quarter. Finally, Mawer Investment Management Ltd. boosted its stake in shares of T. Rowe Price Group by 0.8% during the 1st quarter. Mawer Investment Management Ltd. now owns 76,245 shares of the asset manager’s stock worth $5,196,000 after acquiring an additional 610 shares in the last quarter. 73.62% of the stock is owned by hedge funds and other institutional investors.

Several research firms have recently weighed in on TROW. Morgan Stanley raised T. Rowe Price Group from an “underweight” rating to an “equal” rating and raised their price objective for the stock from $77.00 to $93.00 in a research note on Thursday, October 5th. Goldman Sachs Group, Inc. (The) raised T. Rowe Price Group from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $85.00 to $100.00 in a research note on Thursday, September 28th. Zacks Investment Research raised T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $98.00 price objective for the company in a research note on Tuesday, September 26th. Barclays PLC began coverage on T. Rowe Price Group in a research note on Friday, September 8th. They set an “underweight” rating and a $79.00 price objective for the company. Finally, Jefferies Group LLC reissued a “buy” rating and set a $96.00 price objective on shares of T. Rowe Price Group in a research note on Sunday, August 20th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $85.45.

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In other news, Director Anne M. Whittemore sold 4,163 shares of the business’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $90.64, for a total value of $377,334.32. Following the completion of the transaction, the director now owns 29,070 shares of the company’s stock, valued at approximately $2,634,904.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Anne M. Whittemore sold 8,326 shares of the business’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $82.03, for a total transaction of $682,981.78. Following the completion of the transaction, the director now directly owns 28,982 shares of the company’s stock, valued at approximately $2,377,393.46. The disclosure for this sale can be found here. Insiders sold a total of 36,924 shares of company stock valued at $3,187,333 in the last three months. 3.60% of the stock is owned by company insiders.

Shares of T. Rowe Price Group, Inc. (TROW) traded down 0.11% during mid-day trading on Tuesday, hitting $91.88. The stock had a trading volume of 370,139 shares. The stock’s 50-day moving average price is $85.92 and its 200-day moving average price is $77.34. The stock has a market capitalization of $22.08 billion, a price-to-earnings ratio of 15.78 and a beta of 1.25. T. Rowe Price Group, Inc. has a 12-month low of $62.97 and a 12-month high of $92.58.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Tuesday, July 25th. The asset manager reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.01. T. Rowe Price Group had a net margin of 32.64% and a return on equity of 24.38%. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the business earned $0.76 EPS. The firm’s revenue was up 12.1% on a year-over-year basis. On average, equities analysts anticipate that T. Rowe Price Group, Inc. will post $5.72 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, September 28th. Stockholders of record on Thursday, September 14th were issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend was Wednesday, September 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is 39.18%.

T. Rowe Price Group Profile

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.

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

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