Farmers National Bank Lowers Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Farmers National Bank trimmed its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 10.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,071 shares of the asset manager’s stock after selling 350 shares during the quarter. Farmers National Bank’s holdings in T. Rowe Price Group were worth $354,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Confluence Investment Management LLC purchased a new position in T. Rowe Price Group in the first quarter valued at approximately $130,386,000. Los Angeles Capital Management LLC raised its stake in shares of T. Rowe Price Group by 492.3% in the 1st quarter. Los Angeles Capital Management LLC now owns 319,887 shares of the asset manager’s stock valued at $39,001,000 after acquiring an additional 265,881 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of T. Rowe Price Group by 15.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager’s stock valued at $185,810,000 after acquiring an additional 220,105 shares in the last quarter. AQR Capital Management LLC boosted its position in T. Rowe Price Group by 77.2% during the 2nd quarter. AQR Capital Management LLC now owns 451,237 shares of the asset manager’s stock worth $52,032,000 after purchasing an additional 196,565 shares during the period. Finally, Burney Co. purchased a new stake in T. Rowe Price Group during the 2nd quarter worth $20,938,000. 73.39% of the stock is owned by institutional investors and hedge funds.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $104.73, for a total transaction of $50,689.32. Following the completion of the sale, the insider now owns 13,939 shares in the company, valued at $1,459,831.47. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the sale, the vice president now directly owns 123,624 shares in the company, valued at approximately $12,712,255.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the transaction, the insider now owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Price Performance

NASDAQ TROW opened at $107.11 on Wednesday. The company has a market capitalization of $23.92 billion, a price-to-earnings ratio of 12.72, a price-to-earnings-growth ratio of 1.75 and a beta of 1.41. T. Rowe Price Group, Inc. has a 12 month low of $87.43 and a 12 month high of $122.27. The company’s fifty day moving average price is $107.56 and its two-hundred day moving average price is $112.85.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.01). The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.79 billion. T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the business posted $2.02 EPS. As a group, analysts anticipate that T. Rowe Price Group, Inc. will post 8.96 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $1.24 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.63%. T. Rowe Price Group’s dividend payout ratio (DPR) is 58.91%.

Analyst Ratings Changes

Several research firms have commented on TROW. JPMorgan Chase & Co. raised their price objective on T. Rowe Price Group from $102.00 to $107.00 and gave the company an “underweight” rating in a research report on Tuesday, July 23rd. Evercore ISI reduced their price target on T. Rowe Price Group from $115.00 to $108.00 and set an “in-line” rating on the stock in a research report on Thursday, September 5th. Barclays began coverage on T. Rowe Price Group in a report on Tuesday, August 27th. They issued an “underweight” rating and a $99.00 price target for the company. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $120.00 target price (down from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. Three investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $113.30.

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.