Mitsubishi UFJ Kokusai Asset Management Co. Ltd. cut its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 10.3% during the second quarter, Holdings Channel reports. The institutional investor owned 34,900 shares of the asset manager’s stock after selling 4,024 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in T. Rowe Price Group were worth $2,590,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in TROW. Daiwa Securities Group Inc. boosted its stake in shares of 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 position in shares of 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 during the last quarter. Rothschild Investment Corp IL raised its position in shares of 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 during the last quarter. British Columbia Investment Management Corp raised its position in shares of 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 during the last quarter. Finally, Bridgewater Associates LP raised its position in shares of 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 during the last quarter. Institutional investors and hedge funds own 72.10% of the company’s stock.

Shares of T. Rowe Price Group, Inc. (TROW) opened at 83.84 on Tuesday. The stock has a market cap of $20.15 billion, a price-to-earnings ratio of 14.40 and a beta of 1.24. The firm has a 50-day moving average price of $79.72 and a 200 day moving average price of $72.93. 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 quarterly earnings data on Tuesday, July 25th. The asset manager reported $1.28 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the company posted $0.76 EPS. The company’s revenue was up 12.1% compared to the same quarter last year. On average, analysts forecast that T. Rowe Price Group, Inc. will post $5.65 EPS for the current fiscal year.

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Several brokerages have recently commented on TROW. UBS AG reissued a “sell” rating and set a $63.00 price objective (up previously from $62.00) on shares of T. Rowe Price Group in a report on Friday, July 14th. TheStreet raised T. Rowe Price Group from a “c+” rating to a “b-” rating in a report on Friday, April 28th. Citigroup Inc. boosted their price objective on T. Rowe Price Group from $73.50 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, July 26th. Zacks Investment Research raised T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $83.00 price objective for the company in a report on Wednesday, June 28th. Finally, BidaskClub lowered T. Rowe Price Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 1st. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. T. Rowe Price Group currently has a consensus rating of “Hold” and an average target price of $77.90.

In other news, Director Anne M. Whittemore sold 8,326 shares of T. Rowe Price Group stock in a transaction that occurred 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 completion of the transaction, the director now owns 28,982 shares in the company, valued at approximately $2,377,393.46. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider David Oestreicher sold 10,394 shares of T. Rowe Price Group stock in a transaction that occurred 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 of the company’s stock, valued at approximately $6,836,577.93. The disclosure for this sale can be found here. 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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