Keystone Financial Planning Inc. boosted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.5% during the second quarter, Holdings Channel reports. The institutional investor owned 54,036 shares of the asset manager’s stock after buying an additional 1,810 shares during the period. T. Rowe Price Group makes up 2.4% of Keystone Financial Planning Inc.’s portfolio, making the stock its 21st largest position. Keystone Financial Planning Inc.’s holdings in T. Rowe Price Group were worth $4,010,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. increased its position in shares of T. Rowe Price Group by 1,722.6% in the first quarter. BlackRock Inc. now owns 16,378,787 shares of the asset manager’s stock worth $1,116,214,000 after buying an additional 15,480,155 shares during the period. Massachusetts Financial Services Co. MA bought a new position in shares of T. Rowe Price Group during the first quarter worth about $118,342,000. Scout Investments Inc. increased its position in shares of T. Rowe Price Group by 448.8% in the first quarter. Scout Investments Inc. now owns 1,212,919 shares of the asset manager’s stock worth $89,101,000 after buying an additional 991,890 shares during the period. Pioneer Investment Management Inc. increased its position in shares of T. Rowe Price Group by 308.7% in the second quarter. Pioneer Investment Management Inc. now owns 972,522 shares of the asset manager’s stock worth $72,171,000 after buying an additional 734,591 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of T. Rowe Price Group by 6.7% in the first quarter. JPMorgan Chase & Co. now owns 11,600,022 shares of the asset manager’s stock worth $790,542,000 after buying an additional 728,477 shares during the period. Hedge funds and other institutional investors own 71.86% of the company’s stock.

Shares of T. Rowe Price Group, Inc. (TROW) opened at 82.79 on Friday. The firm has a 50-day moving average price of $79.43 and a 200-day moving average price of $72.85. The company has a market capitalization of $19.90 billion, a P/E ratio of 14.22 and a beta of 1.24. T. Rowe Price Group, Inc. has a one year low of $62.97 and a one year high of $85.42.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Tuesday, July 25th. The asset manager reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.01. The business had revenue of $1.17 billion during 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%. T. Rowe Price Group’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.76 EPS. Equities analysts forecast that T. Rowe Price Group, Inc. will post $5.65 earnings per share for the current year.

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A number of brokerages have recently issued reports on TROW. UBS AG restated a “sell” rating and set a $61.00 price objective (down from $77.00) on shares of T. Rowe Price Group in a research report on Wednesday, May 24th. BidaskClub downgraded T. Rowe Price Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 1st. ValuEngine upgraded T. Rowe Price Group from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Wells Fargo & Company restated a “market perform” rating on shares of T. Rowe Price Group in a research report on Thursday, July 27th. Finally, Citigroup Inc. raised their price objective on T. Rowe Price Group from $73.50 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 26th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $77.90.

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

T. Rowe Price Group Company Profile

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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