T. Rowe Price Group, Inc. (TROW) Stake Lowered by United Bank VA

United Bank VA trimmed its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 48.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,052 shares of the asset manager’s stock after selling 5,676 shares during the period. United Bank VA’s holdings in T. Rowe Price Group were worth $449,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of T. Rowe Price Group by 1.7% during the second quarter. Vanguard Group Inc. now owns 16,576,728 shares of the asset manager’s stock valued at $1,230,159,000 after acquiring an additional 282,162 shares during the last quarter. BlackRock Inc. raised its stake in shares of T. Rowe Price Group by 0.4% during the second quarter. BlackRock Inc. now owns 16,440,056 shares of the asset manager’s stock valued at $1,220,017,000 after acquiring an additional 61,269 shares during the last quarter. State Street Corp raised its stake in shares of T. Rowe Price Group by 1.9% during the second quarter. State Street Corp now owns 14,511,636 shares of the asset manager’s stock valued at $1,076,913,000 after acquiring an additional 273,036 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of T. Rowe Price Group by 1.3% during the second quarter. JPMorgan Chase & Co. now owns 11,756,348 shares of the asset manager’s stock valued at $872,439,000 after acquiring an additional 156,326 shares during the last quarter. Finally, Capital World Investors raised its stake in shares of T. Rowe Price Group by 235.0% during the second quarter. Capital World Investors now owns 10,512,236 shares of the asset manager’s stock valued at $780,113,000 after acquiring an additional 7,373,953 shares during the last quarter. 73.62% of the stock is owned by hedge funds and other institutional investors.

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TROW has been the subject of several recent analyst reports. Jefferies Group LLC reaffirmed a “buy” rating and set a $104.00 price objective (up from $96.00) on shares of T. Rowe Price Group in a research note on Tuesday, October 10th. ValuEngine raised shares of T. Rowe Price Group from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Zacks Investment Research downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Wednesday, September 13th. Wells Fargo & Company reissued a “market perform” rating on shares of T. Rowe Price Group in a research note on Thursday, July 27th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $71.00 price target (up from $70.00) on shares of T. Rowe Price Group in a research note on Tuesday, July 18th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $87.60.

In other T. Rowe Price Group news, Director Anne M. Whittemore sold 8,326 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $82.03, for a total transaction of $682,981.78. Following the sale, the director now owns 28,982 shares of the company’s stock, valued at approximately $2,377,393.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Kenneth V. Moreland sold 13,041 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $90.43, for a total transaction of $1,179,297.63. Following the sale, the chief financial officer now directly owns 135,028 shares in the company, valued at approximately $12,210,582.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,924 shares of company stock worth $3,187,333. 3.60% of the stock is owned by insiders.

Shares of T. Rowe Price Group, Inc. (TROW) traded up 0.16% during midday trading on Monday, reaching $95.09. 395,936 shares of the company’s stock were exchanged. T. Rowe Price Group, Inc. has a 12-month low of $62.97 and a 12-month high of $95.65. The stock’s 50 day moving average price is $87.25 and its 200 day moving average price is $78.08. The company has a market cap of $22.86 billion, a price-to-earnings ratio of 16.33 and a beta of 1.25.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Tuesday, July 25th. The asset manager reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.01. T. Rowe Price Group had a net margin of 32.64% and a return on equity of 24.38%. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the firm earned $0.76 EPS. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. Equities analysts anticipate that T. Rowe Price Group, Inc. will post $5.77 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Thursday, September 14th were given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend was Wednesday, September 13th. T. Rowe Price Group’s dividend payout ratio is presently 39.18%.

T. Rowe Price Group Profile

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.

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

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