Security National Bank of Sioux City Iowa IA Sells 292 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Security National Bank of Sioux City Iowa IA decreased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,744 shares of the asset manager’s stock after selling 292 shares during the quarter. Security National Bank of Sioux City Iowa IA’s holdings in T. Rowe Price Group were worth $1,700,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Victory Capital Management Inc. lifted its stake in T. Rowe Price Group by 3.8% in the second quarter. Victory Capital Management Inc. now owns 3,436,019 shares of the asset manager’s stock valued at $396,207,000 after buying an additional 124,686 shares during the period. American Century Companies Inc. raised its position in shares of T. Rowe Price Group by 4.5% in the 2nd quarter. American Century Companies Inc. now owns 2,512,793 shares of the asset manager’s stock valued at $289,750,000 after acquiring an additional 107,086 shares during the period. Fisher Asset Management LLC boosted its stake in T. Rowe Price Group by 6.6% during the 4th quarter. Fisher Asset Management LLC now owns 1,751,405 shares of the asset manager’s stock worth $188,609,000 after acquiring an additional 109,053 shares during the last quarter. ProShare Advisors LLC grew its holdings in T. Rowe Price Group by 2.5% during the second quarter. ProShare Advisors LLC now owns 1,635,519 shares of the asset manager’s stock valued at $188,592,000 after purchasing an additional 40,490 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in T. Rowe Price Group by 15.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager’s stock valued at $185,810,000 after purchasing an additional 220,105 shares in the last quarter. 73.39% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the sale, the insider now owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the completion of the transaction, the vice president now owns 123,624 shares in the company, valued at $12,712,255.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jessica M. Hiebler sold 484 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the sale, the insider now owns 13,939 shares in the company, valued at approximately $1,459,831.47. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Up 0.1 %

Shares of TROW stock opened at $109.51 on Friday. T. Rowe Price Group, Inc. has a 12 month low of $87.43 and a 12 month high of $122.27. The company’s fifty day simple moving average is $108.01 and its 200-day simple moving average is $113.07. The firm has a market cap of $24.45 billion, a PE ratio of 13.01, a P/E/G ratio of 1.75 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.79 billion. T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The company’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.02 earnings per share. On average, equities analysts predict that T. Rowe Price Group, Inc. will post 8.96 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a $1.24 dividend. The ex-dividend date was Friday, September 13th. This represents a $4.96 dividend on an annualized basis and a yield of 4.53%. T. Rowe Price Group’s dividend payout ratio is 58.91%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on TROW shares. Barclays initiated coverage on shares of T. Rowe Price Group in a research report on Tuesday, August 27th. They set an “underweight” rating and a $99.00 price target on the stock. JPMorgan Chase & Co. lifted their target price on T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a report on Tuesday, July 23rd. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $120.00 price target (down from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, Evercore ISI lowered their target price on T. Rowe Price Group from $115.00 to $108.00 and set an “in-line” rating for the company in a research note on Thursday, September 5th. Three equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $113.30.

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.