Huntington National Bank Decreases Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Huntington National Bank lessened its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 13.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,125 shares of the asset manager’s stock after selling 2,753 shares during the quarter. Huntington National Bank’s holdings in T. Rowe Price Group were worth $1,974,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of TROW. Iron Horse Wealth Management LLC lifted its position in shares of T. Rowe Price Group by 90.9% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock valued at $25,000 after buying an additional 110 shares during the last quarter. Lynx Investment Advisory bought a new stake in T. Rowe Price Group in the 2nd quarter valued at about $29,000. Hexagon Capital Partners LLC lifted its holdings in T. Rowe Price Group by 54.7% during the third quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 104 shares during the last quarter. Family Firm Inc. bought a new position in T. Rowe Price Group during the second quarter worth about $36,000. Finally, Versant Capital Management Inc increased its stake in shares of T. Rowe Price Group by 660.5% in the second quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock worth $38,000 after purchasing an additional 284 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of TROW opened at $118.77 on Friday. T. Rowe Price Group, Inc. has a 1-year low of $96.46 and a 1-year high of $122.27. The company has a market capitalization of $26.39 billion, a P/E ratio of 12.99, a P/E/G ratio of 1.68 and a beta of 1.41. The firm’s 50 day simple moving average is $110.43 and its 200 day simple moving average is $112.12.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The firm had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter last year, the company posted $2.17 EPS. The business’s quarterly revenue was up 6.9% on a year-over-year basis. On average, equities analysts anticipate that T. Rowe Price Group, Inc. will post 9.33 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date of this dividend is Friday, December 13th. T. Rowe Price Group’s payout ratio is currently 54.27%.

Insider Activity

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the completion of the sale, the vice president now directly owns 123,624 shares of the company’s stock, valued at $12,712,255.92. The trade was a 8.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction dated 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 directly owns 13,939 shares in the company, valued at $1,459,831.47. This trade represents a 3.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TROW. Deutsche Bank Aktiengesellschaft upped their price target on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Evercore ISI raised their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Barclays boosted their price objective on T. Rowe Price Group from $101.00 to $110.00 and gave the company an “underweight” rating in a research note on Monday, November 4th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $120.00 target price (down previously from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. Finally, Morgan Stanley lifted their target price on T. Rowe Price Group from $127.00 to $129.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to data from MarketBeat, T. Rowe Price Group has a consensus rating of “Hold” and a consensus target price of $115.55.

About T. Rowe Price Group

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.