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

Raymond James & Associates reduced its position in T. Rowe Price Group Inc (NASDAQ:TROW) by 3.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,745 shares of the asset manager’s stock after selling 5,368 shares during the period. Raymond James & Associates’ holdings in T. Rowe Price Group were worth $18,865,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of TROW. Sawgrass Asset Management LLC boosted its position in T. Rowe Price Group by 1.4% during the second quarter. Sawgrass Asset Management LLC now owns 5,828 shares of the asset manager’s stock worth $720,000 after purchasing an additional 80 shares in the last quarter. Nicolet Bankshares Inc. boosted its position in shares of T. Rowe Price Group by 2.3% in the 2nd quarter. Nicolet Bankshares Inc. now owns 4,363 shares of the asset manager’s stock worth $539,000 after buying an additional 100 shares in the last quarter. Harvest Fund Management Co. Ltd boosted its position in shares of 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 worth $38,000 after buying an additional 106 shares in the last quarter. GW Henssler & Associates Ltd. grew its stake in T. Rowe Price Group by 3.4% in the 2nd quarter. GW Henssler & Associates Ltd. now owns 3,225 shares of the asset manager’s stock valued at $398,000 after acquiring an additional 106 shares during the last quarter. Finally, National Asset Management Inc. increased its holdings in T. Rowe Price Group by 4.0% during the 1st quarter. National Asset Management Inc. now owns 2,863 shares of the asset manager’s stock valued at $280,000 after acquiring an additional 109 shares in the last quarter. 70.63% of the stock is owned by hedge funds and other institutional investors.

In other T. Rowe Price Group news, VP W. Sharps Robert sold 3,500 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $117.50, for a total transaction of $411,250.00. Following the completion of the sale, the vice president now directly owns 476,176 shares in the company, valued at $55,950,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mary K. Bush sold 1,851 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $1,840,249.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,851 shares of company stock worth $1,047,719. 1.00% of the stock is owned by company insiders.

Shares of NASDAQ:TROW opened at $138.10 on Friday. The company has a current ratio of 3.24, a quick ratio of 4.55 and a debt-to-equity ratio of 0.02. The firm has a market cap of $30.60 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 2.24 and a beta of 1.15. The stock’s 50-day moving average price is $127.11 and its two-hundred day moving average price is $119.76. 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 released its earnings results on Wednesday, July 29th. The asset manager reported $2.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same period last year, the company earned $2.03 earnings per share. The company’s quarterly revenue was up 1.4% on a year-over-year basis. As a group, research analysts forecast that T. Rowe Price Group Inc will post 8.18 earnings per share for the current fiscal year.

TROW has been the topic of several research reports. Wells Fargo & Co increased their price target on shares of T. Rowe Price Group from $72.00 to $78.00 in a research report on Thursday. Morgan Stanley increased their target price on T. Rowe Price Group from $150.00 to $160.00 and gave the company an “equal weight” rating in a report on Friday. BMO Capital Markets boosted their price target on T. Rowe Price Group from $109.00 to $128.00 and gave the stock a “market perform” rating in a report on Monday, June 29th. ValuEngine downgraded T. Rowe Price Group from a “hold” rating to a “sell” rating in a research report on Thursday, July 2nd. Finally, Credit Suisse Group lifted their price objective on T. Rowe Price Group from $135.00 to $147.00 in a research report on Thursday. Four investment analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $116.17.

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.

See Also: Ex-Dividend

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

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