UMB Bank n.a. Has $801,000 Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

UMB Bank n.a. lessened its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,084 shares of the asset manager’s stock after selling 259 shares during the quarter. UMB Bank n.a.’s holdings in T. Rowe Price Group were worth $801,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Iron Horse Wealth Management LLC lifted its position in 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 worth $25,000 after buying an additional 110 shares in the last quarter. Hexagon Capital Partners LLC increased its position in shares of T. Rowe Price Group by 54.7% in the third quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 104 shares during the last quarter. True Wealth Design LLC bought a new stake in T. Rowe Price Group during the third quarter worth about $37,000. Larson Financial Group LLC boosted its position in T. Rowe Price Group by 866.7% during the third quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 312 shares during the last quarter. Finally, Brooklyn Investment Group bought a new position in T. Rowe Price Group in the third quarter valued at approximately $43,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. TD Cowen dropped their price objective on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Wells Fargo & Company dropped their price target on shares of T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Barclays cut their price target on shares of T. Rowe Price Group from $115.00 to $113.00 and set an “underweight” rating for the company in a research note on Friday, January 17th. Morgan Stanley boosted their price objective on shares of T. Rowe Price Group from $129.00 to $132.00 and gave the stock an “equal weight” rating in a research note on Friday, December 20th. Finally, Keefe, Bruyette & Woods cut their target price on shares of T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating for the company in a research note on Monday, January 13th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $115.82.

T. Rowe Price Group Trading Up 0.5 %

Shares of NASDAQ TROW opened at $113.80 on Wednesday. The business’s 50 day moving average is $117.62 and its 200-day moving average is $112.80. The firm has a market cap of $25.28 billion, a P/E ratio of 12.45, a price-to-earnings-growth ratio of 1.67 and a beta of 1.43. T. Rowe Price Group, Inc. has a 1-year low of $100.49 and a 1-year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter last year, the firm earned $2.17 earnings per share. The company’s revenue was up 6.9% on a year-over-year basis. Analysts forecast that T. Rowe Price Group, Inc. will post 9.45 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were issued a dividend of $1.24 per share. The ex-dividend date was Friday, December 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.36%. T. Rowe Price Group’s dividend payout ratio is presently 54.27%.

Insider Activity

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total value of $499,197.45. Following the transaction, the vice president now owns 119,577 shares in the company, valued at approximately $14,749,822.95. This trade represents a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is owned by company insiders.

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.