State of New Jersey Common Pension Fund D continued to hold its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the second quarter, Holdings Channel reports. The fund owned 149,500 shares of the asset manager’s stock at the end of the second quarter. State of New Jersey Common Pension Fund D’s holdings in T. Rowe Price Group were worth $11,094,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. boosted its position in 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 valued at $1,116,214,000 after buying an additional 15,480,155 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in T. Rowe Price Group during the first quarter valued at about $118,342,000. Scout Investments Inc. boosted its position in 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 valued at $89,101,000 after buying an additional 991,890 shares in the last quarter. JPMorgan Chase & Co. boosted its position in 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 valued at $790,542,000 after buying an additional 728,477 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in T. Rowe Price Group by 69.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,324,911 shares of the asset manager’s stock valued at $90,292,000 after buying an additional 542,066 shares in the last quarter. 71.86% of the stock is owned by hedge funds and other institutional investors.

Shares of T. Rowe Price Group, Inc. (NASDAQ TROW) opened at 83.18 on Thursday. The firm has a market capitalization of $19.99 billion, a price-to-earnings ratio of 14.28 and a beta of 1.24. The stock has a 50 day moving average of $78.88 and a 200 day moving average of $72.71. T. Rowe Price Group, Inc. has a 52-week low of $62.97 and a 52-week high of $85.42.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Tuesday, July 25th. The asset manager reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.01. T. Rowe Price Group had a net margin of 32.64% and a return on equity of 24.38%. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the firm earned $0.76 EPS. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, analysts predict that T. Rowe Price Group, Inc. will post $5.69 EPS for the current fiscal year.

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TROW has been the subject of several analyst reports. TheStreet raised shares of T. Rowe Price Group from a “c+” rating to a “b-” rating in a report on Friday, April 28th. Argus cut shares of 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 target (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 target (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 target on shares of T. Rowe Price Group and gave the stock a “buy” rating in a report on Tuesday, June 20th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. T. Rowe Price Group currently has a consensus rating of “Hold” and a consensus target price of $77.90.

In related news, insider David Oestreicher sold 10,394 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $83.07, for a total value of $863,429.58. Following the sale, the insider now directly owns 82,299 shares in the company, valued at approximately $6,836,577.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Anne M. Whittemore sold 8,326 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $82.03, for a total transaction of $682,981.78. Following the completion of the sale, the director now owns 28,982 shares in the company, 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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