Wetherby Asset Management Inc. reduced its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.2% during the second quarter, Holdings Channel reports. The institutional investor owned 6,724 shares of the asset manager’s stock after selling 152 shares during the period. Wetherby Asset Management Inc.’s holdings in T. Rowe Price Group were worth $499,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Quadrant Capital Group LLC boosted its position in shares of 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 boosted its position in shares of 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 position in shares of T. Rowe Price Group during the first quarter valued at about $147,000. Benjamin F. Edwards & Company Inc. boosted its position in shares of T. Rowe Price Group by 103.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,119 shares of the asset manager’s stock valued at $157,000 after buying an additional 1,075 shares in the last quarter. Finally, Duncker Streett & Co. Inc. boosted its position 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 in the last quarter. 71.86% of the stock is currently owned by institutional investors.

Shares of T. Rowe Price Group, Inc. (NASDAQ TROW) opened at 82.79 on Friday. The company has a 50 day moving average of $79.43 and a 200 day moving average of $72.85. The stock has a market capitalization of $19.90 billion, a price-to-earnings ratio of 14.22 and a beta of 1.24. T. Rowe Price Group, Inc. has a 52-week low of $62.97 and a 52-week high of $85.42.

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

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Several equities analysts have issued reports on TROW shares. TheStreet raised shares of T. Rowe Price Group from a “c+” rating to a “b-” rating in a research note on Friday, April 28th. Jefferies Group LLC reissued a “buy” rating and issued a $83.00 price objective (down from $84.00) on shares of T. Rowe Price Group in a research note on Monday, April 17th. Zacks Investment Research raised shares of T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $83.00 price objective on the stock in a research note on Wednesday, June 28th. BidaskClub cut shares of T. Rowe Price Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 1st. Finally, ValuEngine raised shares of T. Rowe Price Group from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $77.90.

In related news, Director Anne M. Whittemore sold 8,326 shares of T. Rowe Price Group stock in a transaction dated Thursday, July 27th. The stock was 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider David Oestreicher sold 10,394 shares of T. Rowe Price Group stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $83.07, for a total value 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 owned by 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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