Aviance Capital Partners LLC Acquires 2,080 Shares of T. Rowe Price Group, Inc. (TROW)

Aviance Capital Partners LLC boosted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 13.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,775 shares of the asset manager’s stock after buying an additional 2,080 shares during the period. Aviance Capital Partners LLC’s holdings in T. Rowe Price Group were worth $1,319,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Quadrant Capital Group LLC increased its stake in T. Rowe Price Group by 1.4% in the first quarter. Quadrant Capital Group LLC now owns 1,660 shares of the asset manager’s stock valued at $107,000 after buying an additional 23 shares in the last quarter. Mosaic Family Wealth LLC increased its stake in T. Rowe Price Group by 4.5% in the first quarter. Mosaic Family Wealth LLC now owns 1,967 shares of the asset manager’s stock valued at $134,000 after buying an additional 85 shares in the last quarter. FNY Partners Fund LP purchased a new stake in T. Rowe Price Group during the first quarter valued at about $147,000. Duncker Streett & Co. Inc. increased its stake in shares of T. Rowe Price Group by 57.9% in the first quarter. Duncker Streett & Co. Inc. now owns 2,472 shares of the asset manager’s stock valued at $168,000 after buying an additional 906 shares during the period. Finally, Mycio Wealth Partners LLC bought a new stake in shares of T. Rowe Price Group during the first quarter valued at $207,000. Hedge funds and other institutional investors own 71.86% of the company’s stock.

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) traded down 0.22% during mid-day trading on Tuesday, hitting $83.19. The company had a trading volume of 1,337,875 shares. T. Rowe Price Group, Inc. has a 52-week low of $62.97 and a 52-week high of $85.42. The stock has a market cap of $20.00 billion, a price-to-earnings ratio of 14.28 and a beta of 1.24. The stock’s 50-day moving average is $78.05 and its 200-day moving average is $72.50.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Tuesday, July 25th. The asset manager reported $1.28 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period last year, the firm earned $0.76 earnings per share. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. Equities analysts forecast that T. Rowe Price Group, Inc. will post $5.69 earnings per share for the current year.

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

In other news, Director Anne M. Whittemore sold 8,326 shares of T. Rowe Price Group stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $82.03, for a total transaction of $682,981.78. Following the transaction, the director now directly 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 SEC, which is available at the SEC website. Also, insider David Oestreicher sold 10,394 shares of T. Rowe Price Group stock in a transaction 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 transaction, the insider now directly owns 82,299 shares in the company, valued at $6,836,577.93. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by company 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.

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

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