T. Rowe Price Group Inc (NASDAQ:TROW) Position Boosted by Unified Trust Company N.A.

Unified Trust Company N.A. lifted its stake in shares of T. Rowe Price Group Inc (NASDAQ:TROW) by 3.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,265 shares of the asset manager’s stock after purchasing an additional 1,024 shares during the period. T. Rowe Price Group comprises about 2.2% of Unified Trust Company N.A.’s investment portfolio, making the stock its 25th biggest holding. Unified Trust Company N.A.’s holdings in T. Rowe Price Group were worth $3,210,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Adirondack Trust Co. raised its stake in T. Rowe Price Group by 606.1% during the first quarter. Adirondack Trust Co. now owns 233 shares of the asset manager’s stock worth $25,000 after acquiring an additional 200 shares during the period. Advisory Alpha LLC acquired a new stake in T. Rowe Price Group during the first quarter worth about $27,000. Kistler Tiffany Companies LLC raised its stake in 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 acquiring an additional 100 shares during the period. AdvisorNet Financial Inc raised its stake in T. Rowe Price Group by 121.1% during the second quarter. AdvisorNet Financial Inc now owns 294 shares of the asset manager’s stock worth $32,000 after acquiring an additional 161 shares during the period. Finally, Heritage Wealth Advisors raised its stake in T. Rowe Price Group by 201.5% during the second quarter. Heritage Wealth Advisors now owns 410 shares of the asset manager’s stock worth $45,000 after acquiring an additional 274 shares during the period. 68.67% of the stock is currently owned by institutional investors and hedge funds.

In related news, VP Robert C.T. Higginbotham sold 19,393 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $115.17, for a total transaction of $2,233,491.81. Following the transaction, the vice president now owns 68,864 shares in the company, valued at $7,931,066.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Christopher D. Alderson sold 36,898 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $114.41, for a total transaction of $4,221,500.18. Following the transaction, the vice president now owns 414,144 shares in the company, valued at approximately $47,382,215.04. The disclosure for this sale can be found here. Insiders sold 79,773 shares of company stock worth $9,187,023 in the last 90 days. 3.10% of the stock is owned by company insiders.

Shares of NASDAQ:TROW traded down $1.66 during trading hours on Friday, hitting $114.34. The stock had a trading volume of 1,334,721 shares, compared to its average volume of 897,236. The stock’s fifty day simple moving average is $110.93 and its 200 day simple moving average is $106.80. T. Rowe Price Group Inc has a 1-year low of $84.59 and a 1-year high of $120.99. The firm has a market capitalization of $27.33 billion, a price-to-earnings ratio of 15.99, a PEG ratio of 1.75 and a beta of 1.05. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.91 and a current ratio of 3.91.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Wednesday, July 24th. The asset manager reported $2.03 EPS for the quarter, beating the consensus estimate of $1.88 by $0.15. T. Rowe Price Group had a net margin of 36.17% and a return on equity of 28.80%. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter last year, the business earned $1.87 earnings per share. T. Rowe Price Group’s revenue was up 3.7% compared to the same quarter last year. As a group, research analysts anticipate that T. Rowe Price Group Inc will post 7.78 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $0.76 dividend. The ex-dividend date is Thursday, September 12th. This represents a $3.04 annualized dividend and a dividend yield of 2.66%. T. Rowe Price Group’s payout ratio is currently 42.52%.

Several equities research analysts recently weighed in on TROW shares. ValuEngine lowered shares of T. Rowe Price Group from a “hold” rating to a “sell” rating in a research note on Monday, September 16th. Morgan Stanley increased their price objective on shares of T. Rowe Price Group from $117.00 to $122.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. Deutsche Bank dropped their price objective on shares of T. Rowe Price Group from $115.00 to $112.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Citigroup increased their price objective on shares of T. Rowe Price Group from $113.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 9th. Finally, UBS Group increased their price objective on shares of T. Rowe Price Group from $109.00 to $111.00 and gave the stock a “neutral” rating in a research note on Monday, July 8th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. T. Rowe Price Group has an average rating of “Hold” and a consensus price target of $110.92.

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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