Huntington National Bank Sells 2,753 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Huntington National Bank lowered its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 13.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,125 shares of the asset manager’s stock after selling 2,753 shares during the period. Huntington National Bank’s holdings in T. Rowe Price Group were worth $1,974,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Forsta AP Fonden grew its stake in shares of T. Rowe Price Group by 32.3% in the second quarter. Forsta AP Fonden now owns 70,100 shares of the asset manager’s stock worth $8,083,000 after purchasing an additional 17,100 shares during the last quarter. Savant Capital LLC grew its position in shares of T. Rowe Price Group by 36.6% in the 2nd quarter. Savant Capital LLC now owns 32,887 shares of the asset manager’s stock worth $3,792,000 after buying an additional 8,816 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in shares of T. Rowe Price Group by 4.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 171,259 shares of the asset manager’s stock valued at $20,890,000 after buying an additional 6,780 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in shares of T. Rowe Price Group during the second quarter valued at approximately $15,907,000. Finally, Cetera Advisors LLC lifted its stake in T. Rowe Price Group by 156.3% in the first quarter. Cetera Advisors LLC now owns 16,826 shares of the asset manager’s stock worth $2,051,000 after acquiring an additional 10,260 shares during the period. Institutional investors own 73.39% of the company’s stock.

Insider Activity at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction on Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the sale, the insider now owns 13,939 shares of the company’s stock, valued at $1,459,831.47. The trade was a 3.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction dated 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 transaction, the vice president now directly owns 123,624 shares in the company, valued at approximately $12,712,255.92. This represents a 8.83 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

TROW has been the topic of a number of research analyst reports. Barclays boosted their price objective on shares of T. Rowe Price Group from $101.00 to $110.00 and gave the company an “underweight” rating in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft increased their price target on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods reissued 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 report on Monday, July 29th. Finally, Wells Fargo & Company lifted their price target on T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 9th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $115.55.

T. Rowe Price Group Stock Performance

Shares of TROW stock opened at $118.77 on Friday. The company has a market capitalization of $26.39 billion, a price-to-earnings ratio of 12.99, a price-to-earnings-growth ratio of 1.68 and a beta of 1.41. T. Rowe Price Group, Inc. has a one year low of $96.46 and a one year high of $122.27. The company’s 50-day moving average is $110.43 and its 200 day moving average is $112.12.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, beating analysts’ consensus estimates 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 in the prior year, the company posted $2.17 earnings per share. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, research analysts predict that T. Rowe Price Group, Inc. will post 9.33 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

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

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.