DAVENPORT & Co LLC lowered its stake in shares of T. Rowe Price Group Inc (NASDAQ:TROW) by 1.4% in the second quarter, Holdings Channel reports. The institutional investor owned 10,904 shares of the asset manager’s stock after selling 151 shares during the period. DAVENPORT & Co LLC’s holdings in T. Rowe Price Group were worth $1,347,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of TROW. Tarbox Family Office Inc. lifted its holdings in T. Rowe Price Group by 423.1% during the second quarter. Tarbox Family Office Inc. now owns 204 shares of the asset manager’s stock worth $25,000 after buying an additional 165 shares during the period. HHM Wealth Advisors LLC purchased a new stake in shares of T. Rowe Price Group during the 1st quarter valued at $28,000. Shine Investment Advisory Services Inc. lifted its holdings in shares of T. Rowe Price Group by 248.4% during the 1st quarter. Shine Investment Advisory Services Inc. now owns 324 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 231 shares during the last quarter. Harvest Fund Management Co. Ltd lifted its holdings in shares of T. Rowe Price Group by 36.3% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 398 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 106 shares during the last quarter. Finally, Pearl River Capital LLC purchased a new stake in shares of T. Rowe Price Group during the 1st quarter valued at $39,000. Institutional investors own 70.63% of the company’s stock.

Several analysts have recently commented on TROW shares. Morgan Stanley increased their price objective 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 increased their price objective on T. Rowe Price Group from $109.00 to $128.00 and gave the company a “market perform” rating in a report on Monday, June 29th. UBS Group decreased their price objective on T. Rowe Price Group from $137.00 to $100.00 and set a “neutral” rating for the company in a report on Tuesday, April 7th. ValuEngine lowered T. Rowe Price Group from a “hold” rating to a “sell” rating in a report on Thursday, July 2nd. Finally, JPMorgan Chase & Co. increased their price objective on T. Rowe Price Group from $101.00 to $110.00 and gave the company an “underweight” rating in a report on Wednesday, April 29th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $116.17.

NASDAQ 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. The stock’s fifty day moving average price is $127.11 and its 200 day moving average price is $119.76. T. Rowe Price Group Inc has a 1 year low of $82.51 and a 1 year high of $139.82. The company has a market cap of $31.42 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 2.30 and a beta of 1.15.

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, beating the consensus estimate of $1.75 by $0.54. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.41 billion. T. Rowe Price Group had a return on equity of 29.65% and a net margin of 35.05%. The firm’s revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.03 EPS. Research analysts expect that T. Rowe Price Group Inc will post 8.06 earnings per share for the current year.

In other T. Rowe Price Group news, VP David Oestreicher sold 3,500 shares of the stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $120.85, for a total transaction of $422,975.00. Following the sale, the vice president now directly owns 97,673 shares of the company’s stock, valued at approximately $11,803,782.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary K. Bush sold 1,851 shares of the 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 directly owns 15,955 shares in the company, valued at $1,840,249.70. The disclosure for this sale can be found here. Insiders have sold a total of 8,851 shares of company stock worth $1,047,719 over the last ninety days. 1.00% of the stock is owned by 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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