Mandatum Life Insurance Co Ltd continued to hold its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,437 shares of the asset manager’s stock at the end of the second quarter. Mandatum Life Insurance Co Ltd’s holdings in T. Rowe Price Group were worth $2,927,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of the company. Sky Investment Group LLC raised its stake in shares of T. Rowe Price Group by 0.4% in the second quarter. Sky Investment Group LLC now owns 50,519 shares of the asset manager’s stock worth $3,749,000 after buying an additional 211 shares during the period. Watch Point Trust Co raised its stake in shares of T. Rowe Price Group by 0.8% in the second quarter. Watch Point Trust Co now owns 27,046 shares of the asset manager’s stock worth $2,007,000 after buying an additional 225 shares during the period. CWM LLC raised its stake in shares of T. Rowe Price Group by 0.6% in the second quarter. CWM LLC now owns 230,094 shares of the asset manager’s stock worth $17,075,000 after buying an additional 1,341 shares during the period. Smithbridge Asset Management Inc. DE raised its stake in shares of T. Rowe Price Group by 21.6% in the second quarter. Smithbridge Asset Management Inc. DE now owns 44,369 shares of the asset manager’s stock worth $3,293,000 after buying an additional 7,874 shares during the period. Finally, Cape Cod Five Cents Savings Bank purchased a new stake in shares of T. Rowe Price Group during the second quarter worth $1,119,000. 71.49% of the stock is owned by hedge funds and other institutional investors.
T. Rowe Price Group, Inc. (NASDAQ TROW) opened at 82.79 on Friday. The stock has a market capitalization of $19.90 billion, a P/E ratio of 14.22 and a beta of 1.24. The company’s 50-day moving average price is $77.24 and its 200 day moving average price is $72.27. T. Rowe Price Group, Inc. has a 52 week low of $62.97 and a 52 week high of $85.42.
T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Tuesday, July 25th. The asset manager reported $1.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.01. T. Rowe Price Group had a return on equity of 24.38% and a net margin of 32.64%. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period last year, the firm earned $0.76 earnings per share. T. Rowe Price Group’s quarterly revenue was up 12.1% on a year-over-year basis. 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 equities research analysts have weighed in on TROW shares. ValuEngine raised T. Rowe Price Group from a “hold” rating to a “buy” rating in a research report on Wednesday. Wells Fargo & Co reaffirmed a “market perform” rating on shares of T. Rowe Price Group in a research report on Thursday, July 27th. Argus lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Wednesday, April 26th. BidaskClub upgraded T. Rowe Price Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 14th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $71.00 price target (up from $70.00) on shares of T. Rowe Price Group in a report on Tuesday, July 18th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $77.90.
In other T. Rowe Price Group news, Director Anne M. Whittemore sold 8,326 shares of the firm’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $82.03, for a total value of $682,981.78. Following the sale, the director now directly owns 28,982 shares in the company, valued at $2,377,393.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider David Oestreicher sold 10,394 shares of the firm’s 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 in the company, valued at $6,836,577.93. The disclosure for this sale can be found here. 3.60% of the stock is owned by company insiders.
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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