BB&T Corp decreased its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 15.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,000 shares of the asset manager’s stock after selling 883 shares during the period. BB&T Corp’s holdings in T. Rowe Price Group were worth $371,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in TROW. Teachers Advisors LLC raised its stake in T. Rowe Price Group by 73.1% in the fourth quarter. Teachers Advisors LLC now owns 602,281 shares of the asset manager’s stock worth $45,328,000 after buying an additional 254,363 shares during the last quarter. Kentucky Retirement Systems purchased a new stake in T. Rowe Price Group during the fourth quarter worth $1,329,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in T. Rowe Price Group during the fourth quarter worth $593,000. Macquarie Group Ltd. raised its stake in T. Rowe Price Group by 105.5% in the fourth quarter. Macquarie Group Ltd. now owns 15,000 shares of the asset manager’s stock worth $1,128,000 after buying an additional 7,700 shares during the last quarter. Finally, Beacon Financial Group raised its stake in T. Rowe Price Group by 15.3% in the first quarter. Beacon Financial Group now owns 9,797 shares of the asset manager’s stock worth $668,000 after buying an additional 1,298 shares during the last quarter. Hedge funds and other 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 market cap of $19.78 billion, a price-to-earnings ratio of 14.13 and a beta of 1.24. The company has a 50-day moving average price of $80.75 and a 200-day moving average price of $73.28. T. Rowe Price Group, Inc. has a 12-month low of $62.97 and a 12-month high of $85.42.
T. Rowe Price Group (NASDAQ:TROW) last issued 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. The business had revenue of $1.17 billion during 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 business’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.76 EPS. Equities analysts anticipate that T. Rowe Price Group, Inc. will post $5.66 EPS for the current year.
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A number of analysts recently weighed in on TROW shares. Argus lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Wednesday, April 26th. Deutsche Bank AG restated a “hold” rating and set a $71.00 target price (down from $74.00) on shares of T. Rowe Price Group in a research note on Monday, May 1st. TheStreet upgraded shares of T. Rowe Price Group from a “c+” rating to a “b-” rating in a research note on Friday, April 28th. UBS AG restated a “sell” rating and set a $61.00 target price (down from $77.00) on shares of T. Rowe Price Group in a research note on Wednesday, May 24th. Finally, ValuEngine lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Three analysts have rated the stock with a sell rating, seven have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $77.90.
In related news, Director Anne M. Whittemore sold 8,326 shares of the company’s stock in a transaction on Thursday, July 27th. The stock was 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 directly owns 28,982 shares in the company, valued at approximately $2,377,393.46. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider David Oestreicher sold 10,394 shares of the company’s stock in a transaction 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 transaction, the insider now owns 82,299 shares of the company’s stock, valued at $6,836,577.93. The disclosure for this sale can be found here. 3.60% of the stock is owned by corporate 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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