Stephens Inc. AR Boosts Holdings in T. Rowe Price Group Inc (NASDAQ:TROW)

Stephens Inc. AR grew its holdings in shares of T. Rowe Price Group Inc (NASDAQ:TROW) by 2.2% during the 2nd quarter, HoldingsChannel reports. The fund owned 76,874 shares of the asset manager’s stock after acquiring an additional 1,640 shares during the quarter. Stephens Inc. AR’s holdings in T. Rowe Price Group were worth $8,434,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of TROW. Amica Retiree Medical Trust purchased a new position in shares of T. Rowe Price Group in the second quarter worth $118,000. Close Asset Management Ltd increased its stake in shares of T. Rowe Price Group by 29.4% in the second 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 period. Coastal Investment Advisors Inc. increased its stake in shares of T. Rowe Price Group by 32.2% in the second quarter. Coastal Investment Advisors Inc. now owns 1,030 shares of the asset manager’s stock worth $112,000 after buying an additional 251 shares during the period. Provident Trust Co. increased its stake in shares of T. Rowe Price Group by 5.1% in the second quarter. Provident Trust Co. now owns 1,822,913 shares of the asset manager’s stock worth $199,992,000 after buying an additional 88,137 shares during the period. Finally, Lcnb Corp increased its stake in shares of T. Rowe Price Group by 6.3% in the second quarter. Lcnb Corp now owns 6,726 shares of the asset manager’s stock worth $738,000 after buying an additional 401 shares during the period. 69.51% of the stock is currently owned by hedge funds and other institutional investors.

In related news, VP Sebastien Page sold 4,418 shares of T. Rowe Price Group stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $107.05, for a total value of $472,946.90. Following the sale, the vice president now owns 51,302 shares in the company, valued at $5,491,879.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mary K. Bush sold 3,500 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $107.06, for a total transaction of $374,710.00. Following the sale, the director now owns 19,243 shares in the company, valued at approximately $2,060,155.58. The disclosure for this sale can be found here. In the last quarter, insiders sold 64,209 shares of company stock worth $7,302,649. 3.10% of the stock is currently owned by company insiders.

Several research analysts recently commented on the stock. Morgan Stanley lifted their target price on shares of T. Rowe Price Group from $117.00 to $122.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. Barclays lifted their target price on shares of T. Rowe Price Group from $90.00 to $95.00 and gave the stock an “underweight” rating in a research note on Thursday, April 25th. BidaskClub upgraded shares of T. Rowe Price Group from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th. UBS Group lifted their price target on shares of T. Rowe Price Group from $109.00 to $111.00 and gave the company a “neutral” rating in a report on Monday, July 8th. Finally, Deutsche Bank cut their price target on shares of T. Rowe Price Group from $115.00 to $112.00 and set a “hold” rating on the stock in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $109.75.

NASDAQ:TROW traded up $0.66 during trading hours on Thursday, hitting $106.02. The company had a trading volume of 275,740 shares, compared to its average volume of 1,264,293. The firm has a market cap of $25.11 billion, a P/E ratio of 14.83, a PEG ratio of 1.61 and a beta of 1.05. The company’s 50-day simple moving average is $110.00. T. Rowe Price Group Inc has a 52 week low of $84.59 and a 52 week high of $117.68. The company has a quick ratio of 3.91, a current ratio of 3.91 and a debt-to-equity ratio of 0.02.

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

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.

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

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