Barton Investment Management cut its stake in T. Rowe Price Group Inc (NASDAQ:TROW) by 6.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,529 shares of the asset manager’s stock after selling 1,825 shares during the period. T. Rowe Price Group comprises about 0.5% of Barton Investment Management’s holdings, making the stock its 17th largest holding. Barton Investment Management’s holdings in T. Rowe Price Group were worth $3,020,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Adirondack Trust Co. lifted its holdings in T. Rowe Price Group by 606.1% during the 1st quarter. Adirondack Trust Co. now owns 233 shares of the asset manager’s stock worth $25,000 after buying an additional 200 shares during the last quarter. Advisory Alpha LLC purchased a new stake in T. Rowe Price Group during the 1st quarter worth about $27,000. LFA Lugano Financial Advisors SA purchased a new stake in T. Rowe Price Group during the 1st quarter worth about $29,000. Trustcore Financial Services LLC lifted its holdings in T. Rowe Price Group by 353.8% during the 1st quarter. Trustcore Financial Services LLC now owns 295 shares of the asset manager’s stock worth $30,000 after buying an additional 230 shares during the last quarter. Finally, Spectrum Management Group Inc. lifted its holdings in T. Rowe Price Group by 105.3% during the 1st quarter. Spectrum Management Group Inc. now owns 308 shares of the asset manager’s stock worth $31,000 after buying an additional 158 shares during the last quarter. Hedge funds and other institutional investors own 69.33% of the company’s stock.
TROW has been the subject of a number of recent analyst reports. UBS Group lifted their price target on T. Rowe Price Group from $109.00 to $111.00 and gave the stock a “neutral” rating in a report on Monday, July 8th. Zacks Investment Research raised IMI PLC/S from a “sell” rating to a “hold” rating in a report on Wednesday, April 3rd. Gabelli reaffirmed a “buy” rating on shares of T. Rowe Price Group in a report on Thursday, April 25th. Bank of America set a $180.00 price target on CME Group and gave the stock a “hold” rating in a report on Tuesday, April 9th. Finally, Citigroup downgraded Apergy from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $41.00 to $34.00 in a report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. T. Rowe Price Group currently has a consensus rating of “Hold” and a consensus price target of $108.25.
In other news, Director Mary K. Bush sold 3,500 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $107.06, for a total value of $374,710.00. Following the completion of the sale, the director now directly owns 19,243 shares of the company’s stock, valued at approximately $2,060,155.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.10% of the stock is currently owned by insiders.
Shares of T. Rowe Price Group stock traded up $1.44 on Friday, hitting $115.36. The stock had a trading volume of 55,275 shares, compared to its average volume of 1,088,511. T. Rowe Price Group Inc has a 52-week low of $84.59 and a 52-week high of $124.75. The company has a current ratio of 3.74, a quick ratio of 3.74 and a debt-to-equity ratio of 0.03. The firm has a market cap of $26.79 billion, a PE ratio of 16.14, a price-to-earnings-growth ratio of 1.56 and a beta of 1.07. The business has a 50 day moving average price of $108.41.
T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Wednesday, July 24th. The asset manager reported $2.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.88 by $0.15. T. Rowe Price Group had a return on equity of 29.12% and a net margin of 36.17%. The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the previous year, the business earned $1.87 EPS. The business’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, research analysts predict that T. Rowe Price Group Inc will post 7.69 EPS for the current fiscal year.
T. Rowe Price Group Company 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.
Read More: What is the balance sheet?
Receive News & Ratings for T. Rowe Price Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for T. Rowe Price Group and related companies with MarketBeat.com's FREE daily email newsletter.