GenTrust LLC Takes Position in T. Rowe Price Group, Inc. (TROW)

GenTrust LLC acquired a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 138,891 shares of the asset manager’s stock, valued at approximately $10,307,000. T. Rowe Price Group comprises approximately 2.1% of GenTrust LLC’s investment portfolio, making the stock its 12th largest position. GenTrust LLC owned about 0.06% of T. Rowe Price Group at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in TROW. Visionary Asset Management Inc. raised its stake in T. Rowe Price Group by 4.2% in the first quarter. Visionary Asset Management Inc. now owns 44,695 shares of the asset manager’s stock worth $3,046,000 after buying an additional 1,799 shares during the last quarter. Prospera Financial Services Inc raised its stake in T. Rowe Price Group by 48.1% in the first quarter. Prospera Financial Services Inc now owns 18,469 shares of the asset manager’s stock worth $1,260,000 after buying an additional 5,999 shares during the last quarter. Alpha Windward LLC raised its stake in T. Rowe Price Group by 5.6% in the first quarter. Alpha Windward LLC now owns 10,146 shares of the asset manager’s stock worth $691,000 after buying an additional 541 shares during the last quarter. Private Trust Co. NA raised its stake in T. Rowe Price Group by 44.8% in the first quarter. Private Trust Co. NA now owns 7,247 shares of the asset manager’s stock worth $493,000 after buying an additional 2,241 shares during the last quarter. Finally, Univest Corp of Pennsylvania raised its stake in T. Rowe Price Group by 9.2% in the first quarter. Univest Corp of Pennsylvania now owns 52,177 shares of the asset manager’s stock worth $3,556,000 after buying an additional 4,378 shares during the last quarter. Institutional investors own 72.10% of the company’s stock.

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) traded down 0.38% during midday trading on Friday, hitting $82.30. The stock had a trading volume of 1,091,579 shares. The firm has a market capitalization of $19.78 billion, a PE ratio of 14.13 and a beta of 1.24. T. Rowe Price Group, Inc. has a 1-year low of $62.97 and a 1-year high of $85.42. The company’s 50 day moving average price is $80.75 and its 200-day moving average price is $73.28.

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

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A number of research firms have recently issued reports on TROW. Citigroup Inc. increased their target price on T. Rowe Price Group from $73.50 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, July 26th. BidaskClub upgraded T. Rowe Price Group from a “buy” rating to a “strong-buy” rating in a report on Monday, August 14th. Credit Suisse Group increased their price objective on T. Rowe Price Group from $70.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, July 26th. Wells Fargo & Company reiterated a “market perform” rating on shares of T. Rowe Price Group in a report on Thursday, July 27th. Finally, ValuEngine raised shares of T. Rowe Price Group from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. T. Rowe Price Group presently has an average rating of “Hold” and a consensus target price of $77.90.

In related news, Director Anne M. Whittemore sold 8,326 shares of the firm’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $82.03, for a total transaction of $682,981.78. Following the transaction, the director now directly owns 28,982 shares of the company’s stock, valued at $2,377,393.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David Oestreicher sold 10,394 shares of the firm’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $83.07, for a total transaction of $863,429.58. Following 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 owned by company 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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