Sandy Spring Bank Sells 6,246 Shares of T. Rowe Price Group Inc (NASDAQ:TROW)

Sandy Spring Bank reduced its stake in T. Rowe Price Group Inc (NASDAQ:TROW) by 35.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,346 shares of the asset manager’s stock after selling 6,246 shares during the period. Sandy Spring Bank’s holdings in T. Rowe Price Group were worth $1,245,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TROW. Adirondack Trust Co. grew its stake in shares of 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 buying an additional 200 shares in the last quarter. Advisory Alpha LLC purchased a new position in shares of T. Rowe Price Group in the 1st quarter worth $27,000. Kistler Tiffany Companies LLC grew its stake in shares of 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 buying an additional 100 shares in the last quarter. LFA Lugano Financial Advisors SA purchased a new position in shares of T. Rowe Price Group in the 1st quarter worth $29,000. Finally, Trustcore Financial Services LLC grew its stake in shares of 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 buying an additional 230 shares in the last quarter. Institutional investors own 69.51% of the company’s stock.

A number of equities analysts have commented on the stock. Barclays lifted their price objective on shares of T. Rowe Price Group from $90.00 to $95.00 and gave the stock an “underweight” rating in a research note on Thursday, April 25th. BidaskClub raised shares of T. Rowe Price Group from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th. Gabelli reissued a “buy” rating on shares of T. Rowe Price Group in a research note on Thursday, April 25th. Citigroup lifted 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 note on Tuesday, July 9th. Finally, Morgan Stanley lifted 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 note on Friday, July 26th. 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 company. The company has an average rating of “Hold” and an average price target of $109.75.

Shares of TROW stock traded up $0.15 during trading hours on Thursday, reaching $105.51. 14,032 shares of the stock were exchanged, compared to its average volume of 1,264,293. T. Rowe Price Group Inc has a 12-month low of $84.59 and a 12-month high of $117.68. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.91 and a quick ratio of 3.91. The stock’s 50-day moving average is $110.00. The company has a market cap of $25.11 billion, a price-to-earnings ratio of 14.85, a price-to-earnings-growth ratio of 1.61 and a beta of 1.05.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Wednesday, July 24th. The asset manager reported $2.03 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $1.39 billion. During the same period in the previous year, the company earned $1.87 EPS. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. Equities research analysts anticipate that T. Rowe Price Group Inc will post 7.78 earnings per share for the current fiscal year.

In other T. Rowe Price Group news, 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 value of $4,221,500.18. Following the completion of the sale, the vice president now directly owns 414,144 shares of the company’s stock, valued at approximately $47,382,215.04. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Sebastien Page sold 4,418 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $107.05, for a total transaction of $472,946.90. Following the completion of the sale, the vice president now directly owns 51,302 shares of the company’s stock, valued at $5,491,879.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 64,209 shares of company stock valued at $7,302,649. 3.10% of the stock is owned by corporate insiders.

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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