T. Rowe Price Group Inc (NASDAQ:TROW) Stake Boosted by Securian Asset Management Inc

Securian Asset Management Inc grew its stake in shares of T. Rowe Price Group Inc (NASDAQ:TROW) by 1.1% in the 2nd quarter, Holdings Channel reports. The firm owned 24,670 shares of the asset manager’s stock after acquiring an additional 267 shares during the quarter. Securian Asset Management Inc’s holdings in T. Rowe Price Group were worth $2,707,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the company. Northwest Investment Counselors LLC grew its holdings in shares of T. Rowe Price Group by 0.7% during the first quarter. Northwest Investment Counselors LLC now owns 13,426 shares of the asset manager’s stock valued at $1,344,000 after purchasing an additional 96 shares during the last quarter. Unison Advisors LLC boosted its position in shares of T. Rowe Price Group by 0.7% during the second quarter. Unison Advisors LLC now owns 13,584 shares of the asset manager’s stock worth $1,490,000 after buying an additional 100 shares during the period. Kistler Tiffany Companies LLC boosted its position in shares of T. Rowe Price Group by 66.7% during the second quarter. Kistler Tiffany Companies LLC now owns 250 shares of the asset manager’s stock worth $27,000 after buying an additional 100 shares during the period. Duncker Streett & Co. Inc. boosted its position in shares of T. Rowe Price Group by 3.1% during the second quarter. Duncker Streett & Co. Inc. now owns 3,279 shares of the asset manager’s stock worth $360,000 after buying an additional 100 shares during the period. Finally, Mid Atlantic Financial Management Inc. ADV boosted its position in shares of T. Rowe Price Group by 1.4% during the first quarter. Mid Atlantic Financial Management Inc. ADV now owns 7,352 shares of the asset manager’s stock worth $736,000 after buying an additional 103 shares during the period. 68.80% of the stock is owned by institutional investors.

Several equities analysts have recently issued reports on TROW shares. UBS Group boosted their price objective on T. Rowe Price Group from $109.00 to $111.00 and gave the stock a “neutral” rating in a research report on Monday, July 8th. BidaskClub upgraded T. Rowe Price Group from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Morgan Stanley boosted their price objective on T. Rowe Price Group from $117.00 to $122.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. Gabelli reiterated a “buy” rating on shares of T. Rowe Price Group in a research report on Thursday, April 25th. Finally, Citigroup boosted their price objective on T. Rowe Price Group from $113.00 to $115.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $109.75.

TROW traded down $1.29 during trading on Friday, reaching $107.89. The stock had a trading volume of 5,323 shares, compared to its average volume of 1,210,914. The firm has a market capitalization of $25.40 billion, a price-to-earnings ratio of 15.11, a price-to-earnings-growth ratio of 1.63 and a beta of 1.05. The company has a quick ratio of 3.91, a current ratio of 3.91 and a debt-to-equity ratio of 0.02. T. Rowe Price Group Inc has a 1-year low of $84.59 and a 1-year high of $117.68. The stock has a 50 day moving average of $109.84 and a two-hundred day moving average of $104.52.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Wednesday, July 24th. The asset manager reported $2.03 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.15. The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.39 billion. T. Rowe Price Group had a return on equity of 28.80% and a net margin of 36.17%. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.87 earnings per share. On average, research analysts forecast that T. Rowe Price Group Inc will post 7.78 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a $0.76 dividend. The ex-dividend date is Thursday, September 12th. This represents a $3.04 dividend on an annualized basis and a yield of 2.82%. T. Rowe Price Group’s dividend payout ratio (DPR) is 42.52%.

In other T. Rowe Price Group news, VP Sebastien Page sold 4,418 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $107.05, for a total value of $472,946.90. Following the completion of the sale, the vice president now directly owns 51,302 shares in the company, valued at $5,491,879.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert C.T. Higginbotham sold 19,393 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $115.17, for a total value of $2,233,491.81. Following the completion of the sale, the vice president now owns 68,864 shares of the company’s stock, valued at $7,931,066.88. The disclosure for this sale can be found here. Insiders sold 64,209 shares of company stock valued at $7,302,649 over the last 90 days. 3.10% of the stock is currently owned by insiders.

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.

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Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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