Security National Bank of SO Dak Boosts Stake in T. Rowe Price Group Inc (NASDAQ:TROW)

Security National Bank of SO Dak boosted its holdings in shares of T. Rowe Price Group Inc (NASDAQ:TROW) by 3.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,023 shares of the asset manager’s stock after buying an additional 350 shares during the quarter. T. Rowe Price Group accounts for 1.6% of Security National Bank of SO Dak’s investment portfolio, making the stock its 25th largest position. Security National Bank of SO Dak’s holdings in T. Rowe Price Group were worth $1,320,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in TROW. FineMark National Bank & Trust acquired a new stake in shares of T. Rowe Price Group in the 2nd quarter valued at $223,000. Close Asset Management Ltd raised its stake in T. Rowe Price Group by 29.4% during the 2nd quarter. Close Asset Management Ltd now owns 17,800 shares of the asset manager’s stock worth $1,953,000 after acquiring an additional 4,045 shares in the last quarter. Coastal Investment Advisors Inc. raised its stake in T. Rowe Price Group by 32.2% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 1,030 shares of the asset manager’s stock worth $112,000 after acquiring an additional 251 shares in the last quarter. Bessemer Group Inc. raised its stake in T. Rowe Price Group by 58.3% during the 2nd quarter. Bessemer Group Inc. now owns 71,982 shares of the asset manager’s stock worth $7,898,000 after acquiring an additional 26,503 shares in the last quarter. Finally, Legacy Financial Strategies LLC raised its stake in T. Rowe Price Group by 4.3% during the 2nd quarter. Legacy Financial Strategies LLC now owns 6,272 shares of the asset manager’s stock worth $686,000 after acquiring an additional 261 shares in the last quarter. Institutional investors own 68.67% of the company’s stock.

Several equities research analysts recently commented on TROW shares. UBS Group lifted their price target on shares of T. Rowe Price Group from $109.00 to $111.00 and gave the stock a “neutral” rating in a research note on Monday, July 8th. ValuEngine lowered shares of T. Rowe Price Group from a “hold” rating to a “sell” rating in a research note on Monday. Credit Suisse Group set a $135.00 price target on shares of T. Rowe Price Group and gave the stock a “buy” rating in a research note on Friday, September 13th. BidaskClub upgraded shares of T. Rowe Price Group from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. Finally, Citigroup lifted their price target on shares of T. Rowe Price Group from $113.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 9th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $110.92.



In related news, VP Sebastien Page sold 4,418 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $107.05, for a total transaction of $472,946.90. Following the sale, the vice president now owns 51,302 shares of the company’s stock, valued at $5,491,879.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Robert C.T. Higginbotham sold 19,393 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $115.17, for a total transaction of $2,233,491.81. Following the sale, the vice president now directly owns 68,864 shares in the company, valued at approximately $7,931,066.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 79,773 shares of company stock worth $9,187,023. Insiders own 3.10% of the company’s stock.

Shares of NASDAQ:TROW traded down $0.94 during midday trading on Friday, hitting $115.06. The stock had a trading volume of 34,712 shares, compared to its average volume of 867,276. The company has a market capitalization of $27.78 billion, a PE ratio of 16.10, a P/E/G ratio of 1.78 and a beta of 1.05. The stock has a 50 day moving average price of $110.94 and a two-hundred day moving average price of $106.73. The company has a current ratio of 3.91, a quick ratio of 3.91 and a debt-to-equity ratio of 0.02. T. Rowe Price Group Inc has a 1 year low of $84.59 and a 1 year high of $120.99.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Wednesday, July 24th. The asset manager reported $2.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.88 by $0.15. The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.39 billion. T. Rowe Price Group had a net margin of 36.17% and a return on equity of 28.80%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.87 earnings per share. As a group, equities analysts expect that T. Rowe Price Group Inc will post 7.78 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend is Thursday, September 12th. T. Rowe Price Group’s payout ratio is 42.52%.

About T. Rowe Price Group

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.

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

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