State of Wisconsin Investment Board cut its stake in shares of T. Rowe Price Group Inc (NASDAQ:TROW) by 6.3% in the second quarter, HoldingsChannel.com reports. The firm owned 277,005 shares of the asset manager’s stock after selling 18,517 shares during the quarter. State of Wisconsin Investment Board’s holdings in T. Rowe Price Group were worth $32,157,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Signaturefd LLC acquired a new stake in shares of T. Rowe Price Group during the first quarter worth $111,000. Perigon Wealth Management LLC lifted its holdings in T. Rowe Price Group by 57.5% during the first quarter. Perigon Wealth Management LLC now owns 1,284 shares of the asset manager’s stock worth $139,000 after acquiring an additional 469 shares in the last quarter. Signature Estate & Investment Advisors LLC bought a new position in T. Rowe Price Group during the second quarter worth about $151,000. Parallel Advisors LLC lifted its holdings in T. Rowe Price Group by 169.1% during the second quarter. Parallel Advisors LLC now owns 1,448 shares of the asset manager’s stock worth $168,000 after acquiring an additional 910 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. bought a new position in T. Rowe Price Group during the second quarter worth about $190,000. 71.79% of the stock is owned by institutional investors and hedge funds.

Several research analysts have weighed in on TROW shares. Wells Fargo & Co lifted their target price on T. Rowe Price Group from $114.00 to $124.00 and gave the stock a “market perform” rating in a report on Friday, July 13th. Deutsche Bank upgraded T. Rowe Price Group from a “hold” rating to a “buy” rating and reduced their target price for the stock from $121.00 to $114.00 in a report on Wednesday, May 16th. Credit Suisse Group upgraded T. Rowe Price Group from a “neutral” rating to an “outperform” rating and set a $123.00 target price on the stock in a report on Wednesday, May 16th. Morgan Stanley lifted their target price on T. Rowe Price Group from $114.00 to $116.00 and gave the stock an “equal weight” rating in a report on Thursday, July 12th. Finally, Barclays lifted their target price on T. Rowe Price Group from $101.00 to $105.00 and gave the stock an “underweight” rating in a report on Monday, April 23rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. T. Rowe Price Group currently has a consensus rating of “Hold” and an average target price of $116.36.

In other news, VP Christopher D. Alderson sold 41,639 shares of the business’s stock in a transaction dated Thursday, July 26th. The stock was sold at an average price of $121.89, for a total value of $5,075,377.71. Following the sale, the vice president now directly owns 114,860 shares in the company, valued at $14,000,285.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Freeman A. Hrabowski III sold 4,500 shares of the business’s stock in a transaction dated Thursday, July 26th. The shares were sold at an average price of $121.74, for a total value of $547,830.00. Following the completion of the sale, the director now owns 9,640 shares in the company, valued at $1,173,573.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 148,139 shares of company stock worth $18,369,428. Corporate insiders own 3.10% of the company’s stock.

Shares of T. Rowe Price Group opened at $117.14 on Friday, Marketbeat.com reports. The stock has a market capitalization of $29.11 billion, a PE ratio of 21.57, a PEG ratio of 1.50 and a beta of 1.24. T. Rowe Price Group Inc has a one year low of $81.61 and a one year high of $127.43.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Wednesday, July 25th. The asset manager reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.11. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.33 billion. T. Rowe Price Group had a return on equity of 28.49% and a net margin of 31.67%. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.28 earnings per share. sell-side analysts anticipate that T. Rowe Price Group Inc will post 7.23 EPS for the current year.

T. Rowe Price Group announced that its Board of Directors has approved a share repurchase plan on Thursday, April 26th that permits the company to repurchase 10,000,000 outstanding shares. This repurchase authorization permits the asset manager to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

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.

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

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