Bp Plc purchased a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the second quarter, Holdings Channel reports. The institutional investor purchased 28,000 shares of the asset manager’s stock, valued at approximately $2,078,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of TROW. Quadrant Capital Group LLC boosted its stake in shares of T. Rowe Price Group by 1.4% in the first quarter. Quadrant Capital Group LLC now owns 1,660 shares of the asset manager’s stock valued at $107,000 after buying an additional 23 shares in the last quarter. Mosaic Family Wealth LLC boosted its stake in shares of T. Rowe Price Group by 4.5% in the first quarter. Mosaic Family Wealth LLC now owns 1,967 shares of the asset manager’s stock valued at $134,000 after buying an additional 85 shares in the last quarter. FNY Partners Fund LP purchased a new stake in shares of T. Rowe Price Group during the first quarter valued at $147,000. Benjamin F. Edwards & Company Inc. boosted its stake in shares of T. Rowe Price Group by 103.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,119 shares of the asset manager’s stock valued at $157,000 after buying an additional 1,075 shares in the last quarter. Finally, Duncker Streett & Co. Inc. boosted its stake in shares of T. Rowe Price Group by 57.9% in the first quarter. Duncker Streett & Co. Inc. now owns 2,472 shares of the asset manager’s stock valued at $168,000 after buying an additional 906 shares in the last quarter. Institutional investors and hedge funds own 71.86% of the company’s stock.

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) opened at 82.85 on Friday. The company has a market capitalization of $19.91 billion, a PE ratio of 14.23 and a beta of 1.24. T. Rowe Price Group, Inc. has a 52 week low of $62.97 and a 52 week high of $85.42. The stock has a 50 day moving average price of $79.16 and a 200-day moving average price of $72.78.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Tuesday, July 25th. The asset manager reported $1.28 EPS for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.01. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. T. Rowe Price Group had a return on equity of 24.38% and a net margin of 32.64%. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.76 earnings per share. Equities research analysts expect that T. Rowe Price Group, Inc. will post $5.65 EPS for the current year.

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Several analysts have weighed in on TROW shares. TheStreet raised T. Rowe Price Group from a “c+” rating to a “b-” rating in a report on Friday, April 28th. Argus cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. Deutsche Bank AG reissued a “hold” rating and set a $71.00 price objective (down from $74.00) on shares of T. Rowe Price Group in a report on Monday, May 1st. Morgan Stanley reissued an “underweight” rating and set a $70.00 price objective (up from $64.00) on shares of T. Rowe Price Group in a report on Monday, July 10th. Finally, Jefferies Group LLC set a $83.00 price objective on T. Rowe Price Group and gave the stock a “buy” rating in a report on Tuesday, June 20th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. T. Rowe Price Group currently has an average rating of “Hold” and an average price target of $77.90.

In other T. Rowe Price Group news, insider David Oestreicher sold 10,394 shares of T. Rowe Price Group stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $83.07, for a total value of $863,429.58. Following the completion of the sale, the insider now directly owns 82,299 shares in the company, valued at $6,836,577.93. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Anne M. Whittemore sold 8,326 shares of T. Rowe Price Group stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $82.03, for a total value of $682,981.78. Following the completion of the sale, the director now owns 28,982 shares of the company’s stock, valued at $2,377,393.46. The disclosure for this sale can be found here. 3.60% of the stock is owned by insiders.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.

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

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