Arrow Financial Corp Has $629,000 Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Arrow Financial Corp lowered its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.9% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 8,487 shares of the asset manager’s stock after selling 75 shares during the period. Arrow Financial Corp’s holdings in T. Rowe Price Group were worth $629,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. boosted its position in shares of T. Rowe Price Group by 1,722.6% in the first quarter. BlackRock Inc. now owns 16,378,787 shares of the asset manager’s stock valued at $1,116,214,000 after buying an additional 15,480,155 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of T. Rowe Price Group during the first quarter valued at approximately $118,342,000. Scout Investments Inc. boosted its position in shares of T. Rowe Price Group by 448.8% in the first quarter. Scout Investments Inc. now owns 1,212,919 shares of the asset manager’s stock valued at $89,101,000 after buying an additional 991,890 shares during the last quarter. Pioneer Investment Management Inc. boosted its position in shares of T. Rowe Price Group by 308.7% in the second quarter. Pioneer Investment Management Inc. now owns 972,522 shares of the asset manager’s stock valued at $72,171,000 after buying an additional 734,591 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of T. Rowe Price Group by 6.7% in the first quarter. JPMorgan Chase & Co. now owns 11,600,022 shares of the asset manager’s stock valued at $790,542,000 after buying an additional 728,477 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) traded down 0.38% during trading on Friday, hitting $82.30. 1,091,579 shares of the stock traded hands. T. Rowe Price Group, Inc. has a 1-year low of $62.97 and a 1-year high of $85.42. The stock has a 50 day moving average price of $80.75 and a 200-day moving average price of $73.28. The stock has a market cap of $19.78 billion, a price-to-earnings ratio of 14.13 and a beta of 1.24.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Tuesday, July 25th. The asset manager reported $1.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.01. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. T. Rowe Price Group had a net margin of 32.64% and a return on equity of 24.38%. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.76 EPS. Equities analysts forecast that T. Rowe Price Group, Inc. will post $5.66 EPS for the current year.

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TROW has been the subject of several recent research reports. TheStreet upgraded shares of T. Rowe Price Group from a “c+” rating to a “b-” rating in a report on Friday, April 28th. Argus lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Wednesday, April 26th. Deutsche Bank AG reaffirmed a “hold” rating and set a $71.00 price target (down from $74.00) on shares of T. Rowe Price Group in a research report on Monday, May 1st. Morgan Stanley reaffirmed an “underweight” rating and set a $70.00 price target (up from $64.00) on shares of T. Rowe Price Group in a research report on Monday, July 10th. Finally, Jefferies Group LLC set a $83.00 price target on shares of T. Rowe Price Group and gave the stock a “buy” rating in a research report on Tuesday, June 20th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $77.90.

In related news, Director Anne M. Whittemore sold 8,326 shares of the business’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $82.03, for a total value of $682,981.78. Following the transaction, the director now directly owns 28,982 shares of the company’s stock, valued at approximately $2,377,393.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider David Oestreicher sold 10,394 shares of the business’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $83.07, for a total transaction of $863,429.58. Following the completion of the transaction, the insider now directly owns 82,299 shares in the company, valued at $6,836,577.93. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by insiders.

About T. Rowe Price Group

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.

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

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