US Bancorp DE Sells 2,288 Shares of T. Rowe Price Group, Inc. $TROW

US Bancorp DE reduced its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.0% in the 2nd quarter, Holdings Channel reports. The firm owned 54,964 shares of the asset manager’s stock after selling 2,288 shares during the quarter. US Bancorp DE’s holdings in T. Rowe Price Group were worth $5,304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of the stock. TFG Advisers LLC raised its stake in T. Rowe Price Group by 3.6% during the second quarter. TFG Advisers LLC now owns 2,779 shares of the asset manager’s stock worth $268,000 after acquiring an additional 97 shares in the last quarter. Cooper Financial Group boosted its holdings in T. Rowe Price Group by 5.2% in the first quarter. Cooper Financial Group now owns 2,234 shares of the asset manager’s stock valued at $205,000 after acquiring an additional 110 shares during the last quarter. Hexagon Capital Partners LLC boosted its holdings in T. Rowe Price Group by 44.8% during the first quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager’s stock worth $34,000 after buying an additional 113 shares during the last quarter. Associated Banc Corp boosted its holdings in T. Rowe Price Group by 0.5% during the first quarter. Associated Banc Corp now owns 24,864 shares of the asset manager’s stock worth $2,284,000 after buying an additional 114 shares during the last quarter. Finally, Dakota Wealth Management boosted its holdings in T. Rowe Price Group by 4.7% during the second quarter. Dakota Wealth Management now owns 2,537 shares of the asset manager’s stock worth $245,000 after buying an additional 114 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. TD Cowen lifted their price objective on T. Rowe Price Group from $103.00 to $108.00 and gave the company a “hold” rating in a report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price target on T. Rowe Price Group from $98.00 to $102.00 and gave the stock an “underweight” rating in a research report on Monday, August 4th. Morgan Stanley boosted their target price on T. Rowe Price Group from $116.00 to $125.00 and gave the stock a “positive” rating in a report on Monday, October 6th. BMO Capital Markets began coverage on T. Rowe Price Group in a research note on Friday, October 3rd. They issued a “market perform” rating and a $108.00 price target for the company. Finally, Bank of America upped their target price on T. Rowe Price Group from $91.00 to $97.00 and gave the company an “underperform” rating in a research report on Thursday, October 2nd. One research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $106.38.

T. Rowe Price Group Stock Up 3.9%

Shares of TROW opened at $105.36 on Tuesday. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $125.81. The business has a 50-day simple moving average of $105.81 and a two-hundred day simple moving average of $98.58. The stock has a market cap of $23.15 billion, a PE ratio of 11.77, a PEG ratio of 6.51 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.09. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.72 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The business’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.26 earnings per share. On average, equities research analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were paid a $1.27 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $5.08 annualized dividend and a dividend yield of 4.8%. T. Rowe Price Group’s dividend payout ratio is presently 56.76%.

Insider Buying and Selling at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,090 shares of the stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $105.01, for a total value of $324,480.90. Following the completion of the sale, the director owned 47,335 shares of the company’s stock, valued at approximately $4,970,648.35. This represents a 6.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.60% of the company’s stock.

T. Rowe Price Group 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.