Oak Asset Management LLC Sells 465 Shares of T. Rowe Price Group Inc (NASDAQ:TROW)

Oak Asset Management LLC decreased its position in shares of T. Rowe Price Group Inc (NASDAQ:TROW) by 1.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,702 shares of the asset manager’s stock after selling 465 shares during the quarter. T. Rowe Price Group comprises approximately 1.7% of Oak Asset Management LLC’s investment portfolio, making the stock its 17th largest position. Oak Asset Management LLC’s holdings in T. Rowe Price Group were worth $2,798,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TROW. Pennsylvania Trust Co raised its holdings in T. Rowe Price Group by 740.5% during the 1st quarter. Pennsylvania Trust Co now owns 483,407 shares of the asset manager’s stock worth $49,629,000 after purchasing an additional 425,896 shares during the last quarter. Ellis Investment Partners LLC bought a new position in T. Rowe Price Group during the 1st quarter worth approximately $178,000. AJO LP bought a new position in T. Rowe Price Group during the 1st quarter worth approximately $16,756,000. Provident Trust Co. raised its holdings in T. Rowe Price Group by 5.7% during the 1st quarter. Provident Trust Co. now owns 1,734,776 shares of the asset manager’s stock worth $173,686,000 after purchasing an additional 93,089 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in T. Rowe Price Group by 232.5% during the 1st quarter. Victory Capital Management Inc. now owns 128,047 shares of the asset manager’s stock worth $12,820,000 after purchasing an additional 89,541 shares during the last quarter. Hedge funds and other institutional investors own 69.60% of the company’s stock.

In related news, VP Robert C.T. Higginbotham sold 19,393 shares of T. Rowe Price Group stock in a transaction on Friday, July 26th. The shares were sold at an average price of $115.17, for a total value of $2,233,491.81. Following the completion of the sale, the vice president now owns 68,864 shares of the company’s stock, valued at approximately $7,931,066.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Mary K. Bush sold 3,500 shares of T. Rowe Price Group stock in a transaction on Monday, June 10th. The shares were sold at an average price of $107.06, for a total transaction 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 59,791 shares of company stock valued at $6,829,702. Insiders own 3.10% of the company’s stock.

Shares of TROW stock traded up $0.08 during trading hours on Tuesday, hitting $105.79. 38,803 shares of the company were exchanged, compared to its average volume of 1,154,944. The stock has a market capitalization of $25.15 billion, a price-to-earnings ratio of 14.81, a P/E/G ratio of 1.66 and a beta of 1.05. T. Rowe Price Group Inc has a fifty-two week low of $84.59 and a fifty-two week high of $120.75. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.91 and a current ratio of 3.91. The company’s 50 day simple moving average is $109.92.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Wednesday, July 24th. The asset manager reported $2.03 EPS for the quarter, topping the consensus estimate of $1.88 by $0.15. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.39 billion. T. Rowe Price Group had a net margin of 36.17% and a return on equity of 28.80%. The company’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.87 EPS. On average, analysts anticipate that T. Rowe Price Group Inc will post 7.79 earnings per share for the current fiscal year.

TROW has been the subject of several analyst reports. Gabelli restated a “buy” rating on shares of T. Rowe Price Group in a report on Thursday, April 25th. Bank of America set a $112.00 price objective on shares of T. Rowe Price Group and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Barclays raised their price objective on shares of T. Rowe Price Group from $90.00 to $95.00 and gave the stock an “underweight” rating in a research report on Thursday, April 25th. Morgan Stanley raised their price objective on shares of T. Rowe Price Group from $117.00 to $122.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. Finally, Citigroup raised their price objective on shares of T. Rowe Price Group from $113.00 to $115.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $108.25.

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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