McKinley Carter Wealth Services Inc. increased its stake in shares of T. Rowe Price Group Inc (NASDAQ:TROW) by 1.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,318 shares of the asset manager’s stock after buying an additional 118 shares during the quarter. McKinley Carter Wealth Services Inc.’s holdings in T. Rowe Price Group were worth $693,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Close Asset Management Ltd grew its stake in T. Rowe Price Group by 29.4% during the 2nd quarter. Close Asset Management Ltd now owns 17,800 shares of the asset manager’s stock worth $1,953,000 after buying an additional 4,045 shares during the last quarter. Legacy Financial Strategies LLC increased its holdings in shares of T. Rowe Price Group by 4.3% during the 2nd quarter. Legacy Financial Strategies LLC now owns 6,272 shares of the asset manager’s stock valued at $686,000 after acquiring an additional 261 shares during the last quarter. Hendley & Co. Inc. increased its holdings in shares of T. Rowe Price Group by 2.0% during the 1st quarter. Hendley & Co. Inc. now owns 58,031 shares of the asset manager’s stock valued at $5,810,000 after acquiring an additional 1,125 shares during the last quarter. Sprucegrove Investment Management Ltd. grew its holdings in T. Rowe Price Group by 15.6% in the 1st quarter. Sprucegrove Investment Management Ltd. now owns 254,800 shares of the asset manager’s stock valued at $25,511,000 after buying an additional 34,300 shares during the last quarter. Finally, Raymond James Trust N.A. lifted its position in shares of T. Rowe Price Group by 6.4% in the 2nd quarter. Raymond James Trust N.A. now owns 10,653 shares of the asset manager’s stock worth $1,169,000 after acquiring an additional 639 shares during the period. Hedge funds and other institutional investors own 69.51% of the company’s stock.

Shares of TROW stock traded up $1.91 during trading on Friday, hitting $107.37. The company had a trading volume of 601,700 shares, compared to its average volume of 1,303,211. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.91 and a current ratio of 3.91. The firm has a market capitalization of $24.84 billion, a P/E ratio of 15.02, a price-to-earnings-growth ratio of 1.59 and a beta of 1.05. The stock’s 50-day moving average price is $109.96 and its 200 day moving average price is $104.24. T. Rowe Price Group Inc has a one year low of $84.59 and a one year high of $117.68.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Wednesday, July 24th. The asset manager reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.15. The business had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.39 billion. T. Rowe Price Group had a return on equity of 28.80% and a net margin of 36.17%. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.87 earnings per share. On average, research analysts anticipate that T. Rowe Price Group Inc will post 7.78 earnings per share for the current fiscal year.

Several equities analysts recently commented on TROW shares. Deutsche Bank cut their target price on T. Rowe Price Group from $115.00 to $112.00 and set a “hold” rating for the company in a research report on Friday, August 9th. UBS Group raised their price target on T. Rowe Price Group from $109.00 to $111.00 and gave the company a “neutral” rating in a report on Monday, July 8th. Citigroup raised their price target on T. Rowe Price Group from $113.00 to $115.00 and gave the company a “neutral” rating in a report on Tuesday, July 9th. BidaskClub raised T. Rowe Price Group from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th. Finally, Barclays raised their price target on T. Rowe Price Group from $90.00 to $95.00 and gave the company an “underweight” rating in a report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $109.75.

In related news, VP Christopher D. Alderson sold 36,898 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The stock was 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 in the company, valued at $47,382,215.04. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Mary K. Bush sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $107.06, for a total value of $374,710.00. Following the completion of the sale, the director now owns 19,243 shares of the company’s stock, valued at $2,060,155.58. The disclosure for this sale can be found here. Over the last quarter, insiders sold 64,209 shares of company stock valued at $7,302,649. 3.10% 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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