2,551 Shares in T. Rowe Price Group, Inc. (NASDAQ:TROW) Bought by Moody National Bank Trust Division

Moody National Bank Trust Division bought a new position in T. Rowe Price Group, Inc. (NASDAQ:TROWGet Rating) during the second quarter, according to the company in its most recent filing with the SEC. The firm bought 2,551 shares of the asset manager’s stock, valued at approximately $290,000.

A number of other large investors also recently added to or reduced their stakes in TROW. Massmutual Trust Co. FSB ADV increased its position in shares of T. Rowe Price Group by 24.1% in the first quarter. Massmutual Trust Co. FSB ADV now owns 365 shares of the asset manager’s stock valued at $55,000 after acquiring an additional 71 shares during the period. Claro Advisors LLC increased its position in shares of T. Rowe Price Group by 7.2% in the fourth quarter. Claro Advisors LLC now owns 1,104 shares of the asset manager’s stock valued at $217,000 after acquiring an additional 74 shares during the period. SkyOak Wealth LLC increased its position in shares of T. Rowe Price Group by 6.0% in the first quarter. SkyOak Wealth LLC now owns 1,360 shares of the asset manager’s stock valued at $206,000 after acquiring an additional 77 shares during the period. Lindbrook Capital LLC increased its position in shares of T. Rowe Price Group by 7.6% in the first quarter. Lindbrook Capital LLC now owns 1,095 shares of the asset manager’s stock valued at $166,000 after acquiring an additional 77 shares during the period. Finally, Triangle Securities Wealth Management increased its position in shares of T. Rowe Price Group by 4.3% in the first quarter. Triangle Securities Wealth Management now owns 1,879 shares of the asset manager’s stock valued at $284,000 after acquiring an additional 78 shares during the period. Hedge funds and other institutional investors own 74.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group decreased their price objective on shares of T. Rowe Price Group from $118.00 to $100.00 and set a “sell” rating on the stock in a research report on Wednesday, June 29th. JPMorgan Chase & Co. reduced their price target on shares of T. Rowe Price Group from $117.00 to $94.00 and set an “underweight” rating on the stock in a research report on Monday, July 18th. BMO Capital Markets reduced their price target on shares of T. Rowe Price Group from $135.00 to $115.00 in a research report on Monday, August 1st. Morgan Stanley reduced their price target on shares of T. Rowe Price Group from $124.00 to $123.00 and set an “equal weight” rating on the stock in a research report on Friday, July 29th. Finally, TheStreet cut shares of T. Rowe Price Group from a “b-” rating to a “c” rating in a research report on Wednesday, July 13th. Five analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, T. Rowe Price Group currently has a consensus rating of “Hold” and an average price target of $132.30.

Insider Transactions at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 959 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $124.57, for a total value of $119,462.63. Following the transaction, the insider now owns 12,183 shares in the company, valued at $1,517,636.31. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, VP Andrew Justin Mackenzi Thomson sold 11,891 shares of the company’s stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $126.91, for a total value of $1,509,086.81. Following the transaction, the vice president now owns 136,410 shares in the company, valued at $17,311,793.10. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jessica M. Hiebler sold 959 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $124.57, for a total transaction of $119,462.63. Following the completion of the transaction, the insider now owns 12,183 shares in the company, valued at approximately $1,517,636.31. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Price Performance

NASDAQ:TROW opened at $113.92 on Tuesday. T. Rowe Price Group, Inc. has a one year low of $104.72 and a one year high of $223.36. The company’s 50-day simple moving average is $121.64 and its 200 day simple moving average is $127.25. The firm has a market capitalization of $25.71 billion, a P/E ratio of 11.00, a PEG ratio of 2.26 and a beta of 1.29.

T. Rowe Price Group (NASDAQ:TROWGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The asset manager reported $1.79 EPS for the quarter, missing the consensus estimate of $2.64 by ($0.85). T. Rowe Price Group had a return on equity of 28.18% and a net margin of 33.26%. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the previous year, the firm earned $3.31 EPS. The company’s revenue was down 20.4% on a year-over-year basis. On average, equities research analysts expect that T. Rowe Price Group, Inc. will post 8.24 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 15th will be paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 4.21%. The ex-dividend date of this dividend is Wednesday, September 14th. T. Rowe Price Group’s payout ratio is currently 46.33%.

About T. Rowe Price Group

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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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