Smith Salley & Associates Sells 1,577 Shares of T. Rowe Price Group, Inc. (TROW)

Smith Salley & Associates lowered its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 28.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,042 shares of the asset manager’s stock after selling 1,577 shares during the period. Smith Salley & Associates’ holdings in T. Rowe Price Group were worth $300,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. raised 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 during the period. JPMorgan Chase & Co. raised 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 worth $790,542,000 after buying an additional 728,477 shares in the last quarter. Geode Capital Management LLC raised its position in T. Rowe Price Group by 8.8% in the first quarter. Geode Capital Management LLC now owns 2,818,756 shares of the asset manager’s stock worth $191,869,000 after buying an additional 228,194 shares in the last quarter. Thomaspartners Inc. raised its position in T. Rowe Price Group by 12.6% in the first quarter. Thomaspartners Inc. now owns 2,208,621 shares of the asset manager’s stock worth $150,518,000 after buying an additional 246,695 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in T. Rowe Price Group by 15.6% in the first quarter. PNC Financial Services Group Inc. now owns 2,001,852 shares of the asset manager’s stock worth $136,428,000 after buying an additional 270,081 shares in the last quarter. Institutional investors and hedge funds own 71.86% of the company’s stock.

T. Rowe Price Group, Inc. (NASDAQ TROW) traded down 0.22% during mid-day trading on Tuesday, reaching $83.19. 1,337,875 shares of the company were exchanged. The company’s 50 day moving average price is $78.05 and its 200-day moving average price is $72.50. The stock has a market capitalization of $20.00 billion, a price-to-earnings ratio of 14.28 and a beta of 1.24. T. Rowe Price Group, Inc. has a 12-month low of $62.97 and a 12-month high of $85.42.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Tuesday, July 25th. The asset manager reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.01. The firm 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%. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.76 earnings per share. On average, equities research analysts forecast that T. Rowe Price Group, Inc. will post $5.69 earnings per share for the current fiscal year.

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A number of equities analysts recently commented on the stock. ValuEngine raised shares of T. Rowe Price Group from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. BidaskClub lowered shares of T. Rowe Price Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 1st. Wells Fargo & Company reissued a “market perform” rating on shares of T. Rowe Price Group in a research note on Thursday, July 27th. Citigroup Inc. lifted their price objective on shares of T. Rowe Price Group from $73.50 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, July 26th. Finally, Credit Suisse Group lifted their price objective on shares of T. Rowe Price Group from $70.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, July 26th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. T. Rowe Price Group has an average rating of “Hold” and an average target price of $77.90.

In related news, Director Anne M. Whittemore sold 8,326 shares of the firm’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $82.03, for a total value of $682,981.78. Following the completion of the sale, the director now owns 28,982 shares of the company’s stock, valued at $2,377,393.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David Oestreicher sold 10,394 shares of the firm’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $83.07, for a total value of $863,429.58. Following the completion of the sale, the insider now directly owns 82,299 shares of the company’s stock, valued at approximately $6,836,577.93. The disclosure for this sale can be found here. Corporate insiders own 3.60% of the company’s stock.

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.

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

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