Duality Advisers LP purchased a new stake in T. Rowe Price Group Inc (NASDAQ:TROW) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,629 shares of the asset manager’s stock, valued at approximately $1,313,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. purchased a new stake in T. Rowe Price Group during the 2nd quarter worth approximately $2,432,000. Campbell & CO Investment Adviser LLC bought a new stake in shares of T. Rowe Price Group in the second quarter worth $369,000. V Wealth Advisors LLC acquired a new stake in T. Rowe Price Group in the second quarter valued at $248,000. Centric Wealth Management boosted its stake in T. Rowe Price Group by 20.6% during the 2nd quarter. Centric Wealth Management now owns 10,017 shares of the asset manager’s stock valued at $1,237,000 after acquiring an additional 1,710 shares during the last quarter. Finally, First Quadrant L P CA bought a new position in T. Rowe Price Group during the 2nd quarter valued at $79,000. Hedge funds and other institutional investors own 70.63% of the company’s stock.
In other T. Rowe Price Group news, VP David Oestreicher sold 3,500 shares of T. Rowe Price Group stock in a transaction on Friday, May 29th. The stock was sold at an average price of $120.85, for a total transaction of $422,975.00. Following the sale, the vice president now owns 97,673 shares of the company’s stock, valued at approximately $11,803,782.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction, the director now owns 15,955 shares of the company’s stock, valued at approximately $1,840,249.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,851 shares of company stock worth $1,047,719. 1.00% of the stock is currently owned by insiders.
Shares of TROW opened at $138.10 on Friday. The company has a market cap of $31.42 billion, a P/E ratio of 16.60, a PEG ratio of 2.30 and a beta of 1.15. The stock has a fifty day moving average price of $127.11 and a 200 day moving average price of $119.76. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.24 and a quick ratio of 4.55. T. Rowe Price Group Inc has a 12 month low of $82.51 and a 12 month high of $139.82.
T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Wednesday, July 29th. The asset manager reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.25. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.41 billion. T. Rowe Price Group had a return on equity of 29.65% and a net margin of 35.05%. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period last year, the business posted $2.03 earnings per share. As a group, research analysts anticipate that T. Rowe Price Group Inc will post 8.3 earnings per share for the current year.
TROW has been the topic of a number of recent analyst reports. UBS Group cut their target price on shares of T. Rowe Price Group from $137.00 to $100.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Wells Fargo & Co increased their target price on T. Rowe Price Group from $72.00 to $78.00 in a report on Thursday. BMO Capital Markets lifted their target price on T. Rowe Price Group from $109.00 to $128.00 and gave the stock a “market perform” rating in a research report on Monday, June 29th. ValuEngine lowered T. Rowe Price Group from a “hold” rating to a “sell” rating in a research report on Thursday, July 2nd. Finally, Deutsche Bank lifted their price objective on shares of T. Rowe Price Group from $139.00 to $149.00 and gave the stock a “hold” rating in a report on Thursday. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. T. Rowe Price Group has an average rating of “Hold” and a consensus price target of $116.17.
T. Rowe Price Group Company 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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