Markel Corp continued to hold its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 314,000 shares of the asset manager’s stock at the end of the second quarter. Markel Corp owned approximately 0.13% of T. Rowe Price Group worth $23,302,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TROW. Quadrant Capital Group LLC raised its stake in 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 valued at $107,000 after buying an additional 23 shares in the last quarter. Mosaic Family Wealth LLC raised its stake in 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 valued at $134,000 after buying an additional 85 shares in the last quarter. FNY Partners Fund LP bought a new stake in T. Rowe Price Group during the first quarter valued at $147,000. Benjamin F. Edwards & Company Inc. raised its stake in T. Rowe Price Group by 103.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,119 shares of the asset manager’s stock valued at $157,000 after buying an additional 1,075 shares in the last quarter. Finally, Duncker Streett & Co. Inc. raised its stake in 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 valued at $168,000 after buying an additional 906 shares in the last quarter. Hedge funds and other institutional investors own 72.10% of the company’s stock.
Shares of T. Rowe Price Group, Inc. (TROW) opened at 82.61 on Friday. The company has a market capitalization of $19.86 billion, a PE ratio of 14.18 and a beta of 1.24. T. Rowe Price Group, Inc. has a 1-year low of $62.97 and a 1-year high of $85.42. The stock’s 50 day moving average price is $80.51 and its 200-day moving average price is $73.18.
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 Thomson Reuters’ consensus estimate of $1.27 by $0.01. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.76 EPS. On average, equities analysts predict that T. Rowe Price Group, Inc. will post $5.66 EPS for the current year.
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Several analysts have recently weighed in on the stock. UBS AG reiterated a “sell” rating and issued a $63.00 price objective (up previously from $62.00) on shares of T. Rowe Price Group in a research note on Friday, July 14th. ValuEngine raised shares of T. Rowe Price Group from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. TheStreet raised shares of T. Rowe Price Group from a “c+” rating to a “b-” rating in a research report on Friday, April 28th. Argus downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Wednesday, April 26th. Finally, Jefferies Group LLC set a $83.00 price target on shares of T. Rowe Price Group and gave the company a “buy” rating in a research report on Tuesday, June 20th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. T. Rowe Price Group currently has a consensus rating of “Hold” and a consensus target price of $77.90.
In other T. Rowe Price Group news, insider David Oestreicher sold 10,394 shares of the business’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $83.07, for a total transaction of $863,429.58. Following the sale, the insider now owns 82,299 shares in the company, valued at approximately $6,836,577.93. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Anne M. Whittemore sold 8,326 shares of the business’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $82.03, for a total value of $682,981.78. Following the sale, the director now owns 28,982 shares in the company, valued at approximately $2,377,393.46. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by 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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