Moreno Evelyn V cut its holdings in shares of T. Rowe Price Group Inc (NASDAQ:TROW) by 5.6% in the 2nd quarter, HoldingsChannel reports. The fund owned 47,784 shares of the asset manager’s stock after selling 2,854 shares during the period. Moreno Evelyn V’s holdings in T. Rowe Price Group were worth $5,243,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Ellis Investment Partners LLC bought a new stake in T. Rowe Price Group in the 1st quarter worth about $178,000. Adams Diversified Equity Fund Inc. bought a new stake in T. Rowe Price Group in the 2nd quarter worth about $18,365,000. AJO LP bought a new stake in T. Rowe Price Group in the 1st quarter worth about $16,756,000. Strycker View Capital LLC bought a new stake in T. Rowe Price Group in the 2nd quarter worth about $10,971,000. Finally, Provident Trust Co. grew its position in T. Rowe Price Group by 5.7% in the 1st quarter. Provident Trust Co. now owns 1,734,776 shares of the asset manager’s stock worth $173,686,000 after purchasing an additional 93,089 shares in the last quarter. 69.51% of the stock is owned by institutional investors.
TROW traded up $0.68 during midday trading on Thursday, reaching $106.04. The company had a trading volume of 21,951 shares, compared to its average volume of 1,264,293. The company has a current ratio of 3.91, a quick ratio of 3.91 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $25.11 billion, a PE ratio of 14.83, a PEG ratio of 1.61 and a beta of 1.05. T. Rowe Price Group Inc has a 12-month low of $84.59 and a 12-month high of $117.68. The business’s 50-day moving average price is $110.00.
T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Wednesday, July 24th. The asset manager reported $2.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.88 by $0.15. The firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.39 billion. T. Rowe Price Group had a net margin of 36.17% and a return on equity of 28.80%. The company’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.87 earnings per share. Analysts anticipate that T. Rowe Price Group Inc will post 7.78 EPS for the current year.
A number of brokerages have issued reports on TROW. Citigroup upped their price objective on shares of T. Rowe Price Group from $113.00 to $115.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 9th. Morgan Stanley upped their price objective on shares of T. Rowe Price Group from $117.00 to $122.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. Deutsche Bank reduced their price objective on shares of T. Rowe Price Group from $115.00 to $112.00 and set a “hold” rating for the company in a research report on Friday, August 9th. BidaskClub raised shares of T. Rowe Price Group from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Finally, Gabelli reaffirmed a “buy” rating on shares of T. Rowe Price Group in a research report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $109.75.
In other T. Rowe Price Group news, VP Robert C.T. Higginbotham sold 19,393 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $115.17, for a total value of $2,233,491.81. Following the transaction, the vice president now directly owns 68,864 shares in the company, valued at $7,931,066.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Christopher D. Alderson sold 36,898 shares of the business’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $114.41, for a total transaction of $4,221,500.18. Following the completion of the transaction, the vice president now owns 414,144 shares in the company, valued at $47,382,215.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 64,209 shares of company stock worth $7,302,649. Corporate insiders own 3.10% of the company’s stock.
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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