Greenleaf Trust Trims Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Greenleaf Trust cut its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 46.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,867 shares of the asset manager’s stock after selling 2,512 shares during the period. Greenleaf Trust’s holdings in T. Rowe Price Group were worth $309,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. OFI Invest Asset Management acquired a new stake in shares of T. Rowe Price Group in the 3rd quarter worth approximately $25,000. Creative Financial Designs Inc. ADV grew its holdings in shares of T. Rowe Price Group by 83.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock worth $25,000 after acquiring an additional 106 shares during the period. Park Place Capital Corp grew its holdings in T. Rowe Price Group by 1,775.0% during the 4th quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock valued at $32,000 after buying an additional 284 shares during the last quarter. Fortitude Family Office LLC acquired a new stake in T. Rowe Price Group during the 4th quarter valued at $33,000. Finally, NBC Securities Inc. acquired a new stake in T. Rowe Price Group during the 3rd quarter valued at $39,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Trading Up 0.4 %

Shares of TROW opened at $111.94 on Wednesday. The firm has a market capitalization of $25.03 billion, a P/E ratio of 14.43, a price-to-earnings-growth ratio of 2.09 and a beta of 1.40. The stock’s fifty day simple moving average is $114.89 and its 200 day simple moving average is $106.95. T. Rowe Price Group, Inc. has a twelve month low of $87.43 and a twelve month high of $132.76.

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

T. Rowe Price Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a $1.24 dividend. This is a positive change 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 dividend payout ratio (DPR) is 63.92%.

Insider Buying and Selling

In related news, insider Jessica M. Hiebler sold 1,138 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $107.13, for a total value of $121,913.94. Following the transaction, the insider now directly owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $118.32, for a total value of $1,034,116.80. Following the transaction, the director now directly owns 21,073 shares of the company’s stock, valued at $2,493,357.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jessica M. Hiebler sold 1,138 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 14,113 shares in the company, valued at $1,511,925.69. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

TROW has been the topic of a number of analyst reports. TD Cowen upgraded T. Rowe Price Group from a “sell” rating to a “hold” rating and increased their target price for the company from $92.00 to $114.00 in a report on Monday, April 8th. Citigroup increased their target price on T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, April 5th. UBS Group increased their target price 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. JPMorgan Chase & Co. increased their target price on T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a report on Tuesday, April 16th. Finally, StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Four equities research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, T. Rowe Price Group currently has a consensus rating of “Hold” and an average price target of $112.67.

About T. Rowe Price Group

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.