Marathon Capital Management Sells 3,080 Shares of T. Rowe Price Group Inc (NASDAQ:TROW)

Marathon Capital Management trimmed its stake in T. Rowe Price Group Inc (NASDAQ:TROW) by 0.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,193,591 shares of the asset manager’s stock after selling 3,080 shares during the period. T. Rowe Price Group comprises about 53.4% of Marathon Capital Management’s investment portfolio, making the stock its biggest position. Marathon Capital Management owned about 0.50% of T. Rowe Price Group worth $130,948,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Adirondack Trust Co. grew its position in T. Rowe Price Group by 606.1% in the 1st quarter. Adirondack Trust Co. now owns 233 shares of the asset manager’s stock worth $25,000 after purchasing an additional 200 shares during the last quarter. Advisory Alpha LLC acquired a new stake in T. Rowe Price Group in the 1st quarter worth $27,000. Kistler Tiffany Companies LLC grew its position in T. Rowe Price Group by 66.7% in the 2nd quarter. Kistler Tiffany Companies LLC now owns 250 shares of the asset manager’s stock worth $27,000 after purchasing an additional 100 shares during the last quarter. LFA Lugano Financial Advisors SA acquired a new stake in T. Rowe Price Group in the 1st quarter worth $29,000. Finally, Trustcore Financial Services LLC grew its position in T. Rowe Price Group by 353.8% in the 1st quarter. Trustcore Financial Services LLC now owns 295 shares of the asset manager’s stock worth $30,000 after purchasing an additional 230 shares during the last quarter. Institutional investors own 69.60% of the company’s stock.

In related news, Director Mary K. Bush sold 3,500 shares of T. Rowe Price Group stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $107.06, for a total transaction of $374,710.00. Following the completion of the transaction, the director now directly owns 19,243 shares of the company’s stock, valued at approximately $2,060,155.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Robert C.T. Higginbotham sold 19,393 shares of T. Rowe Price Group stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $115.17, for a total transaction of $2,233,491.81. Following the transaction, the vice president now directly owns 68,864 shares of the company’s stock, valued at $7,931,066.88. The disclosure for this sale can be found here. Insiders have sold a total of 59,791 shares of company stock valued at $6,829,702 over the last three months. 3.10% of the stock is currently owned by insiders.

Several brokerages have recently weighed in on TROW. BidaskClub upgraded shares of T. Rowe Price Group from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Gabelli reiterated a “buy” rating on shares of T. Rowe Price Group in a research report on Thursday, April 25th. Citigroup lifted their target price on shares of T. Rowe Price Group from $113.00 to $115.00 and gave the company a “neutral” rating in a research report on Tuesday, July 9th. Morgan Stanley lifted their target price on shares of T. Rowe Price Group from $117.00 to $122.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. Finally, UBS Group lifted their target price on shares of T. Rowe Price Group from $109.00 to $111.00 and gave the company a “neutral” rating in a research report on Monday, July 8th. One 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 stock. The stock presently has an average rating of “Hold” and a consensus target price of $108.25.

Shares of T. Rowe Price Group stock traded down $2.26 during trading on Monday, hitting $107.79. 8,783 shares of the company’s stock traded hands, compared to its average volume of 1,129,629. T. Rowe Price Group Inc has a twelve month low of $84.59 and a twelve month high of $120.75. The firm has a market cap of $25.92 billion, a P/E ratio of 15.02, a PEG ratio of 1.66 and a beta of 1.05. The business’s fifty day simple moving average is $109.73. The company has a current ratio of 3.91, a quick ratio of 3.91 and a debt-to-equity ratio of 0.02.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Wednesday, July 24th. The asset manager reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.15. T. Rowe Price Group had a net margin of 36.17% and a return on equity of 28.80%. The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same period last year, the firm posted $1.87 EPS. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, research analysts predict that T. Rowe Price Group Inc will post 7.79 EPS 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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