Pictet Asset Management Ltd. cut its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 252,838 shares of the asset manager’s stock after selling 2,800 shares during the period. Pictet Asset Management Ltd.’s holdings in T. Rowe Price Group were worth $17,810,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. BlackRock Inc. raised its stake 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 last quarter. JPMorgan Chase & Co. increased its stake in shares of 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 valued at $790,542,000 after buying an additional 728,477 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of 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 valued at $191,869,000 after buying an additional 228,194 shares during the last quarter. Thomaspartners Inc. increased its stake in shares of 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 valued at $150,518,000 after buying an additional 246,695 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of 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 valued at $136,428,000 after buying an additional 270,081 shares during the last quarter. 71.86% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group, Inc. (NASDAQ TROW) opened at 82.79 on Friday. T. Rowe Price Group, Inc. has a one year low of $62.97 and a one year high of $85.42. The stock has a 50 day moving average price of $79.43 and a 200-day moving average price of $72.85. The stock has a market capitalization of $19.90 billion, a P/E ratio of 14.22 and a beta of 1.24.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Tuesday, July 25th. The asset manager reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.01. T. Rowe Price Group had a return on equity of 24.38% and a net margin of 32.64%. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the prior year, the firm earned $0.76 earnings per share. The firm’s revenue was up 12.1% compared to the same quarter last year. Analysts anticipate that T. Rowe Price Group, Inc. will post $5.65 earnings per share for the current year.

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TROW has been the topic of several recent analyst reports. TheStreet upgraded T. Rowe Price Group from a “c+” rating to a “b-” rating in a report on Friday, April 28th. Argus downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. Deutsche Bank AG reiterated a “hold” rating and issued a $71.00 price target (down from $74.00) on shares of T. Rowe Price Group in a report on Monday, May 1st. Morgan Stanley reiterated an “underweight” rating and issued a $70.00 price target (up from $64.00) on shares of T. Rowe Price Group in a report on Monday, July 10th. Finally, Jefferies Group LLC set a $83.00 price target on T. Rowe Price Group and gave the stock a “buy” rating in a report on Tuesday, June 20th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. T. Rowe Price Group currently has an average rating of “Hold” and a consensus target price of $77.90.

In other news, insider David Oestreicher sold 10,394 shares of the company’s 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 sale, the insider now owns 82,299 shares of the company’s stock, valued at $6,836,577.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Anne M. Whittemore sold 8,326 shares of the company’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 sale, the director now directly owns 28,982 shares in the company, valued at approximately $2,377,393.46. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by corporate insiders.

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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