Broadleaf Partners LLC Invests $2.81 Million in T. Rowe Price Group Inc (TROW)

Broadleaf Partners LLC bought a new stake in T. Rowe Price Group Inc (NASDAQ:TROW) during the 4th quarter, HoldingsChannel reports. The fund bought 26,819 shares of the asset manager’s stock, valued at approximately $2,814,000. T. Rowe Price Group comprises 2.3% of Broadleaf Partners LLC’s investment portfolio, making the stock its 17th largest holding.

Several other institutional investors and hedge funds have also recently made changes to their positions in TROW. Signature Estate & Investment Advisors LLC purchased a new stake in shares of T. Rowe Price Group in the third quarter valued at $118,000. Grove Bank & Trust increased its stake in T. Rowe Price Group by 178.7% in the 3rd quarter. Grove Bank & Trust now owns 1,310 shares of the asset manager’s stock worth $119,000 after buying an additional 840 shares during the period. Quadrant Capital Group LLC increased its stake in T. Rowe Price Group by 5.4% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,749 shares of the asset manager’s stock worth $121,000 after buying an additional 89 shares during the period. Sun Life Financial INC increased its stake in T. Rowe Price Group by 19,500.0% in the 2nd quarter. Sun Life Financial INC now owns 1,764 shares of the asset manager’s stock worth $131,000 after buying an additional 1,755 shares during the period. Finally, Mckinley Capital Management LLC Delaware purchased a new position in T. Rowe Price Group in the 2nd quarter worth about $152,000. 72.38% of the stock is currently owned by institutional investors and hedge funds.

In other T. Rowe Price Group news, CEO William J. Stromberg sold 30,000 shares of the stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $97.09, for a total transaction of $2,912,700.00. Following the transaction, the chief executive officer now directly owns 534,077 shares in the company, valued at approximately $51,853,535.93. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kenneth V. Moreland sold 14,419 shares of the stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $97.07, for a total transaction of $1,399,652.33. Following the transaction, the chief financial officer now owns 125,264 shares in the company, valued at $12,159,376.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 204,980 shares of company stock worth $20,776,729. 3.60% of the stock is owned by company insiders.

TROW has been the topic of several recent analyst reports. Zacks Investment Research raised shares of T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $98.00 price target on the stock in a research note on Tuesday, September 26th. Goldman Sachs Group raised shares of T. Rowe Price Group from a “neutral” rating to a “buy” rating and raised their price target for the stock from $85.00 to $100.00 in a research note on Thursday, September 28th. Morgan Stanley raised shares of T. Rowe Price Group from an “underweight” rating to an “equal” rating and raised their price target for the stock from $77.00 to $93.00 in a research note on Thursday, October 5th. Jefferies Group reaffirmed a “buy” rating and issued a $104.00 price target (up previously from $96.00) on shares of T. Rowe Price Group in a research note on Tuesday, October 10th. Finally, Citigroup raised their price target on shares of T. Rowe Price Group from $94.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. T. Rowe Price Group presently has an average rating of “Hold” and a consensus price target of $98.70.

Shares of T. Rowe Price Group Inc (NASDAQ:TROW) traded up $0.79 during trading on Friday, reaching $113.06. 1,956,900 shares of the company’s stock traded hands, compared to its average volume of 1,328,688. T. Rowe Price Group Inc has a one year low of $65.33 and a one year high of $113.07. The company has a market cap of $27,400.00, a PE ratio of 18.50, a price-to-earnings-growth ratio of 1.73 and a beta of 1.32.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Thursday, October 26th. The asset manager reported $1.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.36 by $0.20. T. Rowe Price Group had a net margin of 33.10% and a return on equity of 24.76%. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the prior year, the business earned $1.17 EPS. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. sell-side analysts predict that T. Rowe Price Group Inc will post 5.29 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 28th. Shareholders of record on Thursday, December 14th were issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend was Wednesday, December 13th. T. Rowe Price Group’s payout ratio is 37.32%.

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T. Rowe Price Group Company Profile

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.

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

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