T. Rowe Price Group, Inc. (NASDAQ:TROW) Position Reduced by Greenleaf Trust

Greenleaf Trust decreased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 46.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,867 shares of the asset manager’s stock after selling 2,512 shares during the quarter. Greenleaf Trust’s holdings in T. Rowe Price Group were worth $309,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Clear Harbor Asset Management LLC raised its holdings in T. Rowe Price Group by 3.2% during the fourth quarter. Clear Harbor Asset Management LLC now owns 3,240 shares of the asset manager’s stock worth $349,000 after purchasing an additional 100 shares in the last quarter. Caprock Group LLC increased its holdings in shares of T. Rowe Price Group by 4.7% in the fourth quarter. Caprock Group LLC now owns 2,251 shares of the asset manager’s stock valued at $242,000 after buying an additional 101 shares in the last quarter. Roundview Capital LLC increased its holdings in shares of T. Rowe Price Group by 0.5% in the third quarter. Roundview Capital LLC now owns 22,279 shares of the asset manager’s stock valued at $2,336,000 after buying an additional 105 shares in the last quarter. Creative Financial Designs Inc. ADV increased its holdings in shares of T. Rowe Price Group by 83.5% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock valued at $25,000 after buying an additional 106 shares in the last quarter. Finally, Simplicity Solutions LLC increased its holdings in shares of T. Rowe Price Group by 3.4% in the third quarter. Simplicity Solutions LLC now owns 3,391 shares of the asset manager’s stock valued at $356,000 after buying an additional 112 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Wells Fargo & Company upped their price target on T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a report on Friday, February 9th. UBS Group upped their price target on T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a report on Friday, April 12th. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Keefe, Bruyette & Woods upgraded shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and lifted their price objective for the stock from $106.00 to $120.00 in a research report on Thursday, April 11th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 16th. Four analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat.com, T. Rowe Price Group currently has an average rating of “Hold” and a consensus price target of $112.67.

Insider Activity

In other news, Director Freeman A. Hrabowski III sold 8,740 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the transaction, the director now directly owns 21,073 shares in the company, valued at approximately $2,493,357.36. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Jessica M. Hiebler sold 1,138 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $107.13, for a total value of $121,913.94. Following the completion of the sale, the insider now directly owns 14,113 shares in the company, valued at $1,511,925.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the completion of the sale, the director now owns 21,073 shares of the company’s stock, valued at $2,493,357.36. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Stock Performance

NASDAQ TROW opened at $111.94 on Wednesday. T. Rowe Price Group, Inc. has a twelve month low of $87.43 and a twelve month high of $132.76. The stock has a market cap of $25.03 billion, a price-to-earnings ratio of 14.43, a PEG ratio of 2.09 and a beta of 1.40. The firm’s 50 day moving average price is $114.89 and its two-hundred day moving average price is $106.95.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Thursday, February 8th. The asset manager reported $1.72 EPS for the quarter, beating the consensus estimate of $1.60 by $0.12. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.41%. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the previous year, the company posted $1.74 EPS. T. Rowe Price Group’s revenue was up 6.5% on a year-over-year basis. On average, research analysts forecast that T. Rowe Price Group, Inc. will post 8.36 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a dividend of $1.24 per share. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.22. This represents a $4.96 annualized dividend and a dividend yield of 4.43%. The ex-dividend date of this dividend was Thursday, March 14th. T. Rowe Price Group’s payout ratio is currently 63.92%.

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.