Aspiriant LLC Sells 1,670 Shares of T. Rowe Price Group, Inc. (TROW)

Aspiriant LLC cut its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 17.1% during the second quarter, Holdings Channel reports. The institutional investor owned 8,095 shares of the asset manager’s stock after selling 1,670 shares during the period. Aspiriant LLC’s holdings in T. Rowe Price Group were worth $601,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Daiwa Securities Group Inc. raised its stake in T. Rowe Price Group by 6.3% in the first quarter. Daiwa Securities Group Inc. now owns 6,750 shares of the asset manager’s stock valued at $460,000 after buying an additional 400 shares in the last quarter. Gabelli Funds LLC raised its stake in T. Rowe Price Group by 16.6% in the first quarter. Gabelli Funds LLC now owns 516,000 shares of the asset manager’s stock valued at $35,165,000 after buying an additional 73,400 shares in the last quarter. Rothschild Investment Corp IL raised its stake in T. Rowe Price Group by 42.0% in the first quarter. Rothschild Investment Corp IL now owns 5,750 shares of the asset manager’s stock valued at $392,000 after buying an additional 1,700 shares in the last quarter. British Columbia Investment Management Corp raised its stake in T. Rowe Price Group by 47.4% in the first quarter. British Columbia Investment Management Corp now owns 256,180 shares of the asset manager’s stock valued at $17,459,000 after buying an additional 82,409 shares in the last quarter. Finally, Bridgewater Associates LP raised its stake in T. Rowe Price Group by 14.9% in the first quarter. Bridgewater Associates LP now owns 131,857 shares of the asset manager’s stock valued at $8,986,000 after buying an additional 17,119 shares in the last quarter. Institutional investors and hedge funds own 72.10% of the company’s stock.

T. Rowe Price Group, Inc. (NASDAQ TROW) opened at 84.14 on Thursday. T. Rowe Price Group, Inc. has a 1-year low of $62.97 and a 1-year high of $85.42. The firm has a market cap of $20.22 billion, a P/E ratio of 14.45 and a beta of 1.24. The stock’s 50 day moving average is $80.30 and its 200-day moving average is $73.11.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Tuesday, July 25th. The asset manager reported $1.28 earnings per share for the quarter, beating the Zacks’ consensus estimate 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 business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the company posted $0.76 EPS. T. Rowe Price Group’s revenue for the quarter was up 12.1% on a year-over-year basis. Analysts forecast that T. Rowe Price Group, Inc. will post $5.65 EPS for the current year.

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Several equities research analysts recently commented on TROW shares. Deutsche Bank AG reiterated a “hold” rating and issued a $71.00 price objective (down from $74.00) on shares of T. Rowe Price Group in a research report on Monday, May 1st. Citigroup Inc. boosted their price objective on shares of T. Rowe Price Group from $73.50 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 26th. Credit Suisse Group boosted their price objective on shares of T. Rowe Price Group from $70.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 26th. Morgan Stanley reiterated an “underweight” rating and issued a $71.00 price objective (up from $70.00) on shares of T. Rowe Price Group in a research report on Tuesday, July 18th. Finally, BidaskClub upgraded shares of T. Rowe Price Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 14th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. T. Rowe Price Group presently has an average rating of “Hold” and an average price target of $77.90.

In related news, insider David Oestreicher sold 10,394 shares of the stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $83.07, for a total value of $863,429.58. Following the completion of the transaction, the insider now owns 82,299 shares in the company, valued at approximately $6,836,577.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anne M. Whittemore sold 8,326 shares of the stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $82.03, for a total value of $682,981.78. Following the completion of the transaction, the director now owns 28,982 shares of the company’s stock, valued at approximately $2,377,393.46. The disclosure for this sale can be found here. Company 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.

Want to see what other hedge funds are holding TROW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for T. Rowe Price Group, Inc. (NASDAQ:TROW).

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

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