Raymond James & Associates Decreases Holdings in T. Rowe Price Group Inc (NASDAQ:TROW)

Raymond James & Associates lowered its stake in shares of T. Rowe Price Group Inc (NASDAQ:TROW) by 3.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 152,745 shares of the asset manager’s stock after selling 5,368 shares during the period. Raymond James & Associates owned about 0.07% of T. Rowe Price Group worth $18,865,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tarbox Family Office Inc. boosted its holdings in T. Rowe Price Group by 423.1% in the 2nd quarter. Tarbox Family Office Inc. now owns 204 shares of the asset manager’s stock worth $25,000 after buying an additional 165 shares during the last quarter. HHM Wealth Advisors LLC acquired a new stake in shares of T. Rowe Price Group in the first quarter worth approximately $28,000. Shine Investment Advisory Services Inc. boosted its stake in shares of T. Rowe Price Group by 248.4% in the first quarter. Shine Investment Advisory Services Inc. now owns 324 shares of the asset manager’s stock worth $32,000 after acquiring an additional 231 shares during the last quarter. Pearl River Capital LLC purchased a new stake in shares of T. Rowe Price Group during the first quarter worth approximately $39,000. Finally, Harvest Fund Management Co. Ltd raised its stake in T. Rowe Price Group by 36.3% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 398 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 106 shares during the last quarter. Hedge funds and other institutional investors own 70.63% of the company’s stock.

A number of equities research analysts have recently issued reports on TROW shares. BidaskClub raised shares of T. Rowe Price Group from a “buy” rating to a “strong-buy” rating in a report on Friday. Wells Fargo & Co increased their price objective on shares of T. Rowe Price Group from $72.00 to $78.00 in a report on Thursday. ValuEngine lowered shares of T. Rowe Price Group from a “hold” rating to a “sell” rating in a research note on Thursday, July 2nd. Morgan Stanley upped their price target on T. Rowe Price Group from $150.00 to $160.00 and gave the company an “equal weight” rating in a research report on Friday. Finally, Credit Suisse Group increased their price target on T. Rowe Price Group from $135.00 to $147.00 in a report on Thursday. Four analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. T. Rowe Price Group presently has an average rating of “Hold” and a consensus target price of $116.17.

In related news, Director Mary K. Bush sold 1,851 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $115.34, for a total value of $213,494.34. Following the sale, the director now owns 15,955 shares in the company, valued at approximately $1,840,249.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP W. Sharps Robert sold 3,500 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $117.50, for a total value of $411,250.00. Following the transaction, the vice president now directly owns 476,176 shares in the company, valued at approximately $55,950,680. The disclosure for this sale can be found here. Insiders sold a total of 8,851 shares of company stock worth $1,047,719 over the last three months. Insiders own 1.00% of the company’s stock.

Shares of T. Rowe Price Group stock opened at $138.10 on Friday. The firm has a market cap of $30.60 billion, a PE ratio of 16.38, a price-to-earnings-growth ratio of 2.24 and a beta of 1.15. The company has a quick ratio of 4.55, a current ratio of 3.24 and a debt-to-equity ratio of 0.02. T. Rowe Price Group Inc has a 52 week low of $82.51 and a 52 week high of $139.82. The business’s fifty day simple moving average is $127.11 and its 200-day simple moving average is $119.76.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Wednesday, July 29th. The asset manager reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.25. T. Rowe Price Group had a net margin of 35.05% and a return on equity of 29.65%. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period in the previous year, the firm earned $2.03 EPS. T. Rowe Price Group’s revenue was up 1.4% on a year-over-year basis. As a group, equities analysts expect that T. Rowe Price Group Inc will post 8.18 earnings per share for the current year.

T. Rowe Price Group Profile

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.

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

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