BTIM Corp. Has $39.30 Million Stake in T. Rowe Price Group, Inc. (TROW)

BTIM Corp. cut its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 26.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 529,610 shares of the asset manager’s stock after selling 188,218 shares during the period. BTIM Corp. owned 0.22% of T. Rowe Price Group worth $39,303,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently made changes to their positions in TROW. Daiwa Securities Group Inc. increased its stake in shares of T. Rowe Price Group by 6.3% in the first quarter. Daiwa Securities Group Inc. now owns 6,750 shares of the asset manager’s stock worth $460,000 after buying an additional 400 shares in the last quarter. Gabelli Funds LLC increased its stake in shares of T. Rowe Price Group by 16.6% in the first quarter. Gabelli Funds LLC now owns 516,000 shares of the asset manager’s stock worth $35,165,000 after buying an additional 73,400 shares in the last quarter. Rothschild Investment Corp IL increased its stake in shares of T. Rowe Price Group by 42.0% in the first quarter. Rothschild Investment Corp IL now owns 5,750 shares of the asset manager’s stock worth $392,000 after buying an additional 1,700 shares in the last quarter. British Columbia Investment Management Corp increased its stake in shares of T. Rowe Price Group by 47.4% in the first quarter. British Columbia Investment Management Corp now owns 256,180 shares of the asset manager’s stock worth $17,459,000 after buying an additional 82,409 shares in the last quarter. Finally, Confluence Investment Management LLC increased its stake in shares of T. Rowe Price Group by 9.7% in the first quarter. Confluence Investment Management LLC now owns 162,924 shares of the asset manager’s stock worth $11,103,000 after buying an additional 14,444 shares in the last quarter. Institutional investors own 72.10% of the company’s stock.

T. Rowe Price Group, Inc. (NASDAQ:TROW) traded down 0.38% during midday trading on Friday, hitting $82.30. The stock had a trading volume of 1,091,579 shares. The company has a 50-day moving average of $80.75 and a 200-day moving average of $73.28. T. Rowe Price Group, Inc. has a 1-year low of $62.97 and a 1-year high of $85.42. The stock has a market cap of $19.78 billion, a price-to-earnings ratio of 14.13 and a beta of 1.24.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Tuesday, July 25th. The asset manager reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the company earned $0.76 earnings per share. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. Equities research analysts forecast that T. Rowe Price Group, Inc. will post $5.66 EPS for the current year.

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TROW has been the subject of a number of research reports. Deutsche Bank AG reiterated a “hold” rating and issued a $71.00 price objective (down previously from $74.00) on shares of T. Rowe Price Group in a research report on Monday, May 1st. Credit Suisse Group raised their target price on T. Rowe Price Group from $70.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 26th. Citigroup Inc. raised their target price on T. Rowe Price Group from $73.50 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 26th. Morgan Stanley restated an “underweight” rating and set a $71.00 target price (up previously from $70.00) on shares of T. Rowe Price Group in a research report on Tuesday, July 18th. Finally, BidaskClub upgraded T. Rowe Price Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 14th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target 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 shares were sold at an average price of $83.07, for a total value of $863,429.58. Following the transaction, the insider now owns 82,299 shares in the company, valued at $6,836,577.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction of $682,981.78. Following the completion of the transaction, 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.

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.

Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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