Tdam USA Inc. Acquires 520 Shares of T. Rowe Price Group Inc (NASDAQ:TROW)

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Tdam USA Inc. increased its holdings in T. Rowe Price Group Inc (NASDAQ:TROW) by 20.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 3,021 shares of the asset manager’s stock after buying an additional 520 shares during the period. Tdam USA Inc.’s holdings in T. Rowe Price Group were worth $331,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in TROW. Ellis Investment Partners LLC bought a new position in shares of T. Rowe Price Group in the first quarter valued at approximately $178,000. Adams Diversified Equity Fund Inc. bought a new position in shares of T. Rowe Price Group in the second quarter valued at approximately $18,365,000. AJO LP bought a new position in shares of T. Rowe Price Group in the first quarter valued at approximately $16,756,000. Strycker View Capital LLC bought a new position in shares of T. Rowe Price Group in the second quarter valued at approximately $10,971,000. Finally, Provident Trust Co. grew its holdings in shares of T. Rowe Price Group by 5.7% in the first quarter. Provident Trust Co. now owns 1,734,776 shares of the asset manager’s stock valued at $173,686,000 after acquiring an additional 93,089 shares in the last quarter. 69.51% of the stock is owned by institutional investors.

Shares of NASDAQ:TROW traded up $0.70 on Thursday, reaching $106.06. 8,906 shares of the company traded hands, compared to its average volume of 1,264,293. The business has a 50-day simple moving average of $110.00. T. Rowe Price Group Inc has a 52 week low of $84.59 and a 52 week high of $117.68. The stock has a market capitalization of $25.11 billion, a PE ratio of 14.85, a P/E/G ratio of 1.61 and a beta of 1.05. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.91 and a quick ratio of 3.91.

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

Several equities analysts have weighed in on the company. Gabelli reissued a “buy” rating on shares of T. Rowe Price Group in a report on Thursday, April 25th. Citigroup increased their price objective 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. Barclays increased their price objective 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. BidaskClub raised T. Rowe Price Group from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th. Finally, UBS Group increased their price objective 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. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $109.75.

In other news, Director Mary K. Bush sold 3,500 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $107.06, for a total transaction of $374,710.00. Following the transaction, the director now directly owns 19,243 shares of the company’s stock, valued at $2,060,155.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Sebastien Page sold 4,418 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $107.05, for a total value of $472,946.90. Following the transaction, the vice president now directly owns 51,302 shares in the company, valued at $5,491,879.10. The disclosure for this sale can be found here. Insiders have sold 64,209 shares of company stock worth $7,302,649 over the last ninety days. Insiders own 3.10% of the company’s stock.

T. Rowe Price Group Profile

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.

Further Reading: Why Net Income is Important to Investors

Want to see what other hedge funds are holding TROW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for T. Rowe Price Group Inc (NASDAQ:TROW).

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

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