T. Rowe Price Group, Inc. (NASDAQ:TROW) Stock Position Trimmed by Farmers National Bank

Farmers National Bank decreased its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 10.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,071 shares of the asset manager’s stock after selling 350 shares during the period. Farmers National Bank’s holdings in T. Rowe Price Group were worth $354,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Lynx Investment Advisory acquired a new position in shares of T. Rowe Price Group during the second quarter worth approximately $29,000. Family Firm Inc. acquired a new position in T. Rowe Price Group during the 2nd quarter worth $36,000. Versant Capital Management Inc boosted its position in T. Rowe Price Group by 660.5% during the 2nd quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock worth $38,000 after acquiring an additional 284 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of T. Rowe Price Group by 93.6% in the first quarter. EverSource Wealth Advisors LLC now owns 331 shares of the asset manager’s stock worth $40,000 after purchasing an additional 160 shares in the last quarter. Finally, Riverview Trust Co increased its holdings in shares of T. Rowe Price Group by 136.4% during the second quarter. Riverview Trust Co now owns 357 shares of the asset manager’s stock valued at $41,000 after purchasing an additional 206 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insiders Place Their Bets

In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the sale, the vice president now owns 123,624 shares in the company, valued at $12,712,255.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $102.83, for a total value of $1,230,772.27. Following the completion of the sale, the vice president now owns 123,624 shares of the company’s stock, valued at $12,712,255.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction dated 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 directly owns 13,939 shares of the company’s stock, valued at $1,459,831.47. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock opened at $107.11 on Wednesday. The firm has a market cap of $23.92 billion, a price-to-earnings ratio of 12.72, a price-to-earnings-growth ratio of 1.75 and a beta of 1.41. T. Rowe Price Group, Inc. has a 1 year low of $87.43 and a 1 year high of $122.27. The firm’s 50 day moving average price is $107.56 and its two-hundred day moving average price is $112.85.

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

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date was Friday, September 13th. T. Rowe Price Group’s dividend payout ratio is presently 58.91%.

Analyst Ratings Changes

TROW has been the subject of several research analyst reports. Wells Fargo & Company started coverage on shares of T. Rowe Price Group in a report on Thursday, September 12th. They issued an “equal weight” rating and a $109.00 price objective for the company. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Monday, July 29th. TD Cowen lowered their price objective on shares of T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating on the stock in a research note on Monday, July 29th. JPMorgan Chase & Co. upped their target price on T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 23rd. Finally, Evercore ISI lowered their price target on T. Rowe Price Group from $115.00 to $108.00 and set an “in-line” rating on the stock in a research report on Thursday, September 5th. Three analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat.com, T. Rowe Price Group has a consensus rating of “Hold” and an average target price 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.