Security National Bank of Sioux City Iowa IA Acquires 6,817 Shares of T. Rowe Price Group, Inc. $TROW

Security National Bank of Sioux City Iowa IA boosted its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 39.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 24,211 shares of the asset manager’s stock after buying an additional 6,817 shares during the quarter. T. Rowe Price Group accounts for approximately 1.1% of Security National Bank of Sioux City Iowa IA’s holdings, making the stock its 26th biggest position. Security National Bank of Sioux City Iowa IA’s holdings in T. Rowe Price Group were worth $2,753,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. BlackRock Inc. purchased a new position in shares of T. Rowe Price Group during the second quarter valued at approximately $2,728,119,000. Goldman Sachs Group Inc. boosted its holdings in T. Rowe Price Group by 332.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager’s stock worth $897,880,000 after purchasing an additional 6,740,172 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in T. Rowe Price Group by 20.0% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,150,561 shares of the asset manager’s stock worth $358,187,000 after purchasing an additional 524,544 shares during the period. First Trust Advisors LP grew its position in T. Rowe Price Group by 12.6% in the 1st quarter. First Trust Advisors LP now owns 3,694,171 shares of the asset manager’s stock worth $332,993,000 after purchasing an additional 413,317 shares during the period. Finally, Provident Trust Co. raised its stake in T. Rowe Price Group by 0.4% during the 2nd quarter. Provident Trust Co. now owns 2,061,353 shares of the asset manager’s stock valued at $234,355,000 after buying an additional 8,524 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Joshua Nelson sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $111.82, for a total value of $1,118,200.00. Following the sale, the vice president owned 71,328 shares in the company, valued at $7,975,896.96. The trade was a 12.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

TROW has been the topic of a number of recent research reports. Morgan Stanley set a $116.00 target price on T. Rowe Price Group in a report on Wednesday, July 29th. Zacks Research lowered shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $115.00 price objective (down from $120.00) on shares of T. Rowe Price Group in a research note on Monday, August 3rd. Barclays dropped 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 report on Monday, August 3rd. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $109.00 target price on shares of T. Rowe Price Group in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, T. Rowe Price Group currently has a consensus rating of “Reduce” and an average target price of $106.15.

T. Rowe Price Group Stock Up 1.3%

NASDAQ TROW traded up $1.32 during trading hours on Friday, reaching $104.16. The company’s stock had a trading volume of 2,884,605 shares, compared to its average volume of 2,100,177. The firm’s 50-day moving average price is $112.65 and its 200-day moving average price is $104.68. T. Rowe Price Group, Inc. has a 1 year low of $85.22 and a 1 year high of $122.00. The company has a market capitalization of $22.22 billion, a price-to-earnings ratio of 10.45, a PEG ratio of 3.39 and a beta of 1.46.

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

T. Rowe Price Group Announces Dividend

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

T. Rowe Price Group Company 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.