T. Rowe Price Group, Inc. (TROW) Position Boosted by Bridges Investment Counsel Inc.

Bridges Investment Counsel Inc. boosted its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 64.4% during the second quarter, Holdings Channel reports. The firm owned 20,110 shares of the asset manager’s stock after buying an additional 7,877 shares during the period. Bridges Investment Counsel Inc.’s holdings in T. Rowe Price Group were worth $1,493,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in TROW. BlackRock Inc. raised its position in T. Rowe Price Group by 1,722.6% in the first quarter. BlackRock Inc. now owns 16,378,787 shares of the asset manager’s stock worth $1,116,214,000 after buying an additional 15,480,155 shares during the period. JPMorgan Chase & Co. raised its position in T. Rowe Price Group by 6.7% in the first quarter. JPMorgan Chase & Co. now owns 11,600,022 shares of the asset manager’s stock worth $790,542,000 after buying an additional 728,477 shares during the period. Geode Capital Management LLC raised its position in T. Rowe Price Group by 8.8% in the first quarter. Geode Capital Management LLC now owns 2,818,756 shares of the asset manager’s stock worth $191,869,000 after buying an additional 228,194 shares during the period. Thomaspartners Inc. raised its position in T. Rowe Price Group by 12.6% in the first quarter. Thomaspartners Inc. now owns 2,208,621 shares of the asset manager’s stock worth $150,518,000 after buying an additional 246,695 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in T. Rowe Price Group by 15.6% in the first quarter. PNC Financial Services Group Inc. now owns 2,001,852 shares of the asset manager’s stock worth $136,428,000 after buying an additional 270,081 shares during the period. Hedge funds and other institutional investors own 71.25% of the company’s stock.

T. Rowe Price Group, Inc. (NASDAQ:TROW) opened at 84.49 on Wednesday. The firm has a market capitalization of $20.38 billion, a price-to-earnings ratio of 16.55 and a beta of 1.22. The stock’s 50 day moving average is $75.37 and its 200-day moving average is $71.86. T. Rowe Price Group, Inc. has a 12 month low of $62.97 and a 12 month high of $84.54.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Tuesday, July 25th. The asset manager reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.20. T. Rowe Price Group had a net margin of 29.59% and a return on equity of 24.24%. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the company posted $0.76 EPS. The firm’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 $5.48 earnings per share for the current fiscal year.

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TROW has been the topic of a number of recent analyst reports. ValuEngine lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Argus lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Wednesday, April 26th. BidaskClub upgraded shares of T. Rowe Price Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 14th. Morgan Stanley restated an “underweight” rating and issued a $71.00 price target (up from $70.00) on shares of T. Rowe Price Group in a research report on Tuesday, July 18th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $83.00 price target (down from $84.00) on shares of T. Rowe Price Group in a research report on Monday, April 17th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $72.55.

T. Rowe Price Group Company 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.

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