DAVENPORT & Co LLC Lowers Position in T. Rowe Price Group Inc (NASDAQ:TROW)

DAVENPORT & Co LLC lessened its position in T. Rowe Price Group Inc (NASDAQ:TROW) by 1.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,904 shares of the asset manager’s stock after selling 151 shares during the quarter. DAVENPORT & Co LLC’s holdings in T. Rowe Price Group were worth $1,347,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC increased its position in T. Rowe Price Group by 19.4% during the 4th quarter. Quadrant Capital Group LLC now owns 1,630 shares of the asset manager’s stock valued at $186,000 after buying an additional 265 shares in the last quarter. Sunbelt Securities Inc. increased its position in T. Rowe Price Group by 1.1% during the 4th quarter. Sunbelt Securities Inc. now owns 9,821 shares of the asset manager’s stock valued at $1,197,000 after buying an additional 111 shares in the last quarter. Macquarie Group Ltd. increased its position in T. Rowe Price Group by 7.7% during the 4th quarter. Macquarie Group Ltd. now owns 47,379 shares of the asset manager’s stock valued at $5,773,000 after buying an additional 3,378 shares in the last quarter. Franklin Resources Inc. increased its position in T. Rowe Price Group by 4.4% during the 4th quarter. Franklin Resources Inc. now owns 1,046,149 shares of the asset manager’s stock valued at $127,463,000 after buying an additional 43,956 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its position in T. Rowe Price Group by 5.8% during the 1st quarter. State of Alaska Department of Revenue now owns 50,830 shares of the asset manager’s stock valued at $4,963,000 after buying an additional 2,777 shares in the last quarter. Institutional investors own 70.63% of the company’s stock.

A number of research analysts recently weighed in on TROW shares. ValuEngine lowered T. Rowe Price Group from a “hold” rating to a “sell” rating in a research report on Thursday, July 2nd. UBS Group reduced their price objective on T. Rowe Price Group from $137.00 to $100.00 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Barclays raised their price objective on T. Rowe Price Group from $100.00 to $110.00 in a research report on Monday, June 15th. Wells Fargo & Co lifted their target price on T. Rowe Price Group from $72.00 to $78.00 in a report on Thursday. Finally, Morgan Stanley lifted their target price on T. Rowe Price Group from $150.00 to $160.00 and gave the stock an “equal weight” rating in a report on Friday. Four investment analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $116.17.

Shares of TROW opened at $138.10 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.55 and a quick ratio of 4.55. T. Rowe Price Group Inc has a one year low of $82.51 and a one year high of $139.82. The firm has a market capitalization of $31.42 billion, a P/E ratio of 16.38, a PEG ratio of 2.30 and a beta of 1.15. The business has a fifty day moving average of $127.11 and a 200 day moving average of $119.76.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Wednesday, July 29th. The asset manager reported $2.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.75 by $0.54. T. Rowe Price Group had a return on equity of 29.65% and a net margin of 35.05%. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the previous year, the company posted $2.03 earnings per share. T. Rowe Price Group’s revenue was up 1.4% compared to the same quarter last year. Analysts expect that T. Rowe Price Group Inc will post 8.06 EPS for the current fiscal year.

In related news, Director Mary K. Bush sold 1,851 shares of T. Rowe Price Group 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 completion of the sale, the director now owns 15,955 shares of the company’s stock, valued at $1,840,249.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP W. Sharps Robert sold 3,500 shares of T. Rowe Price Group stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $117.50, for a total value of $411,250.00. Following the completion of the sale, the vice president now directly owns 476,176 shares of the company’s stock, valued at approximately $55,950,680. The disclosure for this sale can be found here. Insiders sold 8,851 shares of company stock valued at $1,047,719 in the last ninety days. 1.00% of the stock is currently owned by corporate insiders.

About T. Rowe Price Group

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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