New Mexico Educational Retirement Board cut its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 9.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,387 shares of the asset manager’s stock after selling 2,300 shares during the period. New Mexico Educational Retirement Board’s holdings in T. Rowe Price Group were worth $1,852,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TROW. 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 worth $1,116,214,000 after buying an additional 15,480,155 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in T. Rowe Price Group during the first quarter worth about $118,342,000. Scout Investments Inc. raised 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 worth $89,101,000 after buying an additional 991,890 shares during the last quarter. Pioneer Investment Management Inc. raised its position in T. Rowe Price Group by 308.7% in the second quarter. Pioneer Investment Management Inc. now owns 972,522 shares of the asset manager’s stock worth $72,171,000 after buying an additional 734,591 shares during the last quarter. Finally, 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 during the last quarter. Institutional investors and hedge funds own 71.86% of the company’s stock.

Shares of T. Rowe Price Group, Inc. (NASDAQ TROW) opened at 82.85 on Friday. T. Rowe Price Group, Inc. has a one year low of $62.97 and a one year high of $85.42. The company has a market capitalization of $19.91 billion, a P/E ratio of 14.23 and a beta of 1.24. The firm has a 50-day moving average of $79.16 and a 200-day moving average of $72.78.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Tuesday, July 25th. The asset manager reported $1.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the prior year, the business posted $0.76 earnings per share. T. Rowe Price Group’s revenue was up 12.1% compared to the same quarter last year. Equities research analysts expect that T. Rowe Price Group, Inc. will post $5.65 EPS for the current fiscal year.

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TROW has been the topic of a number of research analyst reports. TheStreet upgraded shares of T. Rowe Price Group from a “c+” rating to a “b-” rating in a research note on Friday, April 28th. Argus lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Wednesday, April 26th. Deutsche Bank AG reiterated a “hold” rating and issued a $71.00 target price (down from $74.00) on shares of T. Rowe Price Group in a research note on Monday, May 1st. Morgan Stanley reiterated an “underweight” rating and issued a $70.00 target price (up from $64.00) on shares of T. Rowe Price Group in a research note on Monday, July 10th. Finally, Jefferies Group LLC set a $83.00 target price on shares of T. Rowe Price Group and gave the company a “buy” rating in a research note on Tuesday, June 20th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. T. Rowe Price Group presently has an average rating of “Hold” and an average price target of $77.90.

In related news, Director Anne M. Whittemore sold 8,326 shares of the company’s stock in a transaction dated Thursday, July 27th. The shares were 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 of the company’s stock, valued at $2,377,393.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David Oestreicher sold 10,394 shares of the company’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $83.07, for a total transaction of $863,429.58. Following 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.

T. Rowe Price Group Company Profile

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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