Asset Advisors Corp decreased its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.3% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 64,865 shares of the asset manager’s stock after selling 1,557 shares during the period. Asset Advisors Corp’s holdings in T. Rowe Price Group were worth $4,814,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently modified their holdings of TROW. Quadrant Capital Group LLC boosted its position in shares of T. Rowe Price Group by 1.4% in the first quarter. Quadrant Capital Group LLC now owns 1,660 shares of the asset manager’s stock worth $107,000 after buying an additional 23 shares in the last quarter. Mosaic Family Wealth LLC boosted its position in shares of T. Rowe Price Group by 4.5% in the first quarter. Mosaic Family Wealth LLC now owns 1,967 shares of the asset manager’s stock worth $134,000 after buying an additional 85 shares in the last quarter. FNY Partners Fund LP purchased a new position in shares of T. Rowe Price Group during the first quarter worth about $147,000. Duncker Streett & Co. Inc. boosted its position in shares of T. Rowe Price Group by 57.9% in the first quarter. Duncker Streett & Co. Inc. now owns 2,472 shares of the asset manager’s stock worth $168,000 after buying an additional 906 shares in the last quarter. Finally, Mycio Wealth Partners LLC purchased a new position in shares of T. Rowe Price Group during the first quarter worth about $207,000. Hedge funds and other institutional investors own 71.49% of the company’s stock.
Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) traded up 0.07% during mid-day trading on Friday, hitting $82.71. 422,396 shares of the stock were exchanged. The stock has a market capitalization of $19.88 billion, a P/E ratio of 14.20 and a beta of 1.24. T. Rowe Price Group, Inc. has a 12-month low of $62.97 and a 12-month high of $85.42. The stock’s 50 day moving average price is $77.24 and its 200-day moving average price is $72.27.
T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Tuesday, July 25th. The asset manager reported $1.28 EPS for the quarter, topping the consensus estimate of $1.27 by $0.01. T. Rowe Price Group had a net margin of 32.64% and a return on equity of 24.38%. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the firm posted $0.76 EPS. The company’s quarterly revenue was up 12.1% on a year-over-year basis. On average, equities research analysts expect that T. Rowe Price Group, Inc. will post $5.69 EPS for the current fiscal year.
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A number of research analysts recently issued reports on the stock. UBS AG restated a “sell” rating and set a $63.00 price objective (up previously from $62.00) on shares of T. Rowe Price Group in a report on Friday, July 14th. Citigroup Inc. lifted their price target on shares of T. Rowe Price Group from $73.50 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, July 26th. TheStreet raised shares of T. Rowe Price Group from a “c+” rating to a “b-” rating in a research note on Friday, April 28th. Zacks Investment Research raised shares of T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $83.00 price target on the stock in a research note on Wednesday, June 28th. Finally, BidaskClub lowered shares of T. Rowe Price Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $77.90.
In related news, insider David Oestreicher sold 10,394 shares of T. Rowe Price Group stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $83.07, for a total value of $863,429.58. Following the completion of the sale, the insider now owns 82,299 shares of the company’s stock, valued at approximately $6,836,577.93. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Anne M. Whittemore sold 8,326 shares of T. Rowe Price Group stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $82.03, for a total transaction of $682,981.78. Following the completion of the sale, the director now directly owns 28,982 shares of the company’s stock, valued at approximately $2,377,393.46. The disclosure for this sale can be found here. Company insiders own 3.60% of the company’s stock.
About T. Rowe Price Group
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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