Security National Bank of Sioux City Iowa IA Boosts Stock Position in T. Rowe Price Group, Inc. $TROW

Security National Bank of Sioux City Iowa IA increased its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 39.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 24,211 shares of the asset manager’s stock after purchasing an additional 6,817 shares during the period. T. Rowe Price Group makes up about 1.1% of Security National Bank of Sioux City Iowa IA’s investment portfolio, making the stock its 26th largest position. Security National Bank of Sioux City Iowa IA’s holdings in T. Rowe Price Group were worth $2,753,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Wealthcare Capital Partners LLC lifted its position in T. Rowe Price Group by 1.0% during the second quarter. Wealthcare Capital Partners LLC now owns 9,565 shares of the asset manager’s stock valued at $1,087,000 after purchasing an additional 93 shares during the last quarter. Kesler Norman & Wride LLC increased its holdings in shares of T. Rowe Price Group by 0.6% in the 2nd quarter. Kesler Norman & Wride LLC now owns 15,914 shares of the asset manager’s stock worth $1,809,000 after buying an additional 96 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of T. Rowe Price Group by 9.4% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,150 shares of the asset manager’s stock valued at $131,000 after buying an additional 99 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of T. Rowe Price Group by 0.4% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 25,062 shares of the asset manager’s stock valued at $2,259,000 after buying an additional 100 shares in the last quarter. Finally, Concorde Asset Management LLC lifted its holdings in shares of T. Rowe Price Group by 3.9% in the 1st quarter. Concorde Asset Management LLC now owns 2,730 shares of the asset manager’s stock valued at $246,000 after acquiring an additional 102 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW traded up $1.32 during trading hours on Friday, hitting $104.16. 2,884,605 shares of the company’s stock traded hands, compared to its average volume of 2,100,177. T. Rowe Price Group, Inc. has a 1 year low of $85.22 and a 1 year high of $122.00. The firm has a market capitalization of $22.22 billion, a P/E ratio of 10.45, a price-to-earnings-growth ratio of 3.39 and a beta of 1.46. The business has a fifty day moving average price of $112.65 and a 200-day moving average price of $104.68.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, July 31st. The asset manager reported $2.57 EPS for the quarter, beating the consensus estimate of $2.52 by $0.05. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the prior year, the company posted $2.24 EPS. T. Rowe Price Group’s quarterly revenue was up 10.7% on a year-over-year basis. As a group, equities analysts predict that T. Rowe Price Group, Inc. will post 10.16 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Tuesday, September 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 52.16%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $109.00 price target on shares of T. Rowe Price Group in a research report on Monday, August 3rd. Evercore set a $118.00 target price on T. Rowe Price Group in a research report on Monday, August 10th. Morgan Stanley set a $116.00 price target on T. Rowe Price Group in a report on Wednesday, July 29th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $115.00 price target (down from $120.00) on shares of T. Rowe Price Group in a research report on Monday, August 3rd. Finally, Barclays cut their price objective on shares of T. Rowe Price Group from $108.00 to $103.00 and set an “underweight” rating on the stock in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $106.15.

Insiders Place Their Bets

In related news, VP Joshua Nelson sold 10,000 shares of T. Rowe Price Group stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $111.82, for a total transaction of $1,118,200.00. Following the completion of the sale, the vice president owned 71,328 shares in the company, valued at $7,975,896.96. This trade represents a 12.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.60% of the stock is owned by insiders.

T. Rowe Price Group Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland. Founded in 1937 by Thomas Rowe Price Jr., the company provides investment management, advisory and related services to individual investors, retirement plans, institutions, financial intermediaries and other clients.

The company offers a broad range of investment products and strategies, including mutual funds, exchange-traded funds, separately managed accounts and institutional portfolios.