Cigna Investments Inc. New lowered its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 8.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,334 shares of the asset manager’s stock after selling 902 shares during the period. Cigna Investments Inc. New’s holdings in T. Rowe Price Group were worth $693,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Donald L. Hagan LLC increased its stake in shares of T. Rowe Price Group by 2.2% in the first quarter. Donald L. Hagan LLC now owns 10,400 shares of the asset manager’s stock worth $709,000 after buying an additional 228 shares during the period. First United Bank Trust increased its stake in shares of T. Rowe Price Group by 7.3% in the first quarter. First United Bank Trust now owns 13,867 shares of the asset manager’s stock worth $945,000 after buying an additional 940 shares during the period. Edmp Inc. acquired a new stake in shares of T. Rowe Price Group during the first quarter worth about $214,000. CWM LLC increased its stake in shares of T. Rowe Price Group by 15.3% in the first quarter. CWM LLC now owns 228,753 shares of the asset manager’s stock worth $15,590,000 after buying an additional 30,392 shares during the period. Finally, RK Asset Management LLC increased its stake in shares of T. Rowe Price Group by 0.6% in the first quarter. RK Asset Management LLC now owns 79,241 shares of the asset manager’s stock worth $5,400,000 after buying an additional 500 shares during the period. 72.10% of the stock is owned by institutional investors and hedge funds.
Shares of T. Rowe Price Group, Inc. (NASDAQ TROW) opened at 82.79 on Monday. The company has a market cap of $19.90 billion, a P/E ratio of 14.22 and a beta of 1.24. T. Rowe Price Group, Inc. has a 52-week low of $62.97 and a 52-week high of $85.42. The company has a 50-day moving average price of $79.43 and a 200-day moving average price of $72.85.
T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Tuesday, July 25th. The asset manager reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.01. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.16 billion. T. Rowe Price Group had a return on equity of 24.38% and a net margin of 32.64%. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period last year, the company earned $0.76 EPS. On average, equities analysts predict that T. Rowe Price Group, Inc. will post $5.65 EPS for the current year.
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A number of analysts have recently issued reports on TROW shares. Deutsche Bank AG reiterated a “hold” rating and set a $71.00 price target (down previously from $74.00) on shares of T. Rowe Price Group in a research report on Monday, May 1st. Jefferies Group LLC reiterated a “buy” rating and set a $83.00 price target (down previously from $84.00) on shares of T. Rowe Price Group in a research report on Monday, April 17th. Citigroup Inc. lifted their price target on T. Rowe Price Group from $73.50 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, July 26th. Credit Suisse Group lifted their price target on T. Rowe Price Group from $70.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, July 26th. Finally, Morgan Stanley reiterated an “underweight” rating and set a $71.00 price target (up previously from $70.00) on shares of T. Rowe Price Group in a research report on Tuesday, July 18th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $77.90.
In other news, insider David Oestreicher sold 10,394 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The stock was 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 directly owns 82,299 shares of the company’s stock, valued at approximately $6,836,577.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Anne M. Whittemore sold 8,326 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $82.03, for a total value 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 $2,377,393.46. The disclosure for this sale can be found here. 3.60% of the stock is owned by company insiders.
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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