Broadleaf Partners LLC Has $4.02 Million Position in T. Rowe Price Group Inc (TROW)

Broadleaf Partners LLC boosted its holdings in shares of T. Rowe Price Group Inc (NASDAQ:TROW) by 29.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,610 shares of the asset manager’s stock after buying an additional 7,774 shares during the quarter. Broadleaf Partners LLC’s holdings in T. Rowe Price Group were worth $4,018,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Old Mutual Global Investors UK Ltd. increased its position in T. Rowe Price Group by 1,232.5% during the first quarter. Old Mutual Global Investors UK Ltd. now owns 2,023,988 shares of the asset manager’s stock worth $218,529,000 after buying an additional 1,872,098 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in T. Rowe Price Group by 19.0% during the first quarter. Schwab Charles Investment Management Inc. now owns 1,562,121 shares of the asset manager’s stock worth $168,663,000 after buying an additional 249,772 shares during the last quarter. Provident Trust Co. increased its position in T. Rowe Price Group by 1.1% during the first quarter. Provident Trust Co. now owns 1,561,712 shares of the asset manager’s stock worth $168,618,000 after buying an additional 16,831 shares during the last quarter. Dimensional Fund Advisors LP increased its position in T. Rowe Price Group by 0.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,363,389 shares of the asset manager’s stock worth $147,205,000 after buying an additional 11,124 shares during the last quarter. Finally, KAMES CAPITAL plc increased its position in T. Rowe Price Group by 4.8% during the second quarter. KAMES CAPITAL plc now owns 1,138,364 shares of the asset manager’s stock worth $132,140,000 after buying an additional 52,409 shares during the last quarter. 72.07% of the stock is currently owned by hedge funds and other institutional investors.

In other news, VP W. Sharps Robert sold 36,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 12th. The stock was sold at an average price of $126.34, for a total value of $4,548,240.00. Following the transaction, the vice president now owns 487,917 shares of the company’s stock, valued at $61,643,433.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert F. Maclellan sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 30th. The shares were sold at an average price of $122.58, for a total value of $612,900.00. Following the completion of the transaction, the director now directly owns 13,769 shares in the company, valued at approximately $1,687,804.02. The disclosure for this sale can be found here. Insiders sold 102,000 shares of company stock worth $12,746,220 in the last ninety days. 3.10% of the stock is owned by company insiders.

Shares of T. Rowe Price Group stock traded up $0.04 on Tuesday, hitting $120.42. The stock had a trading volume of 33,587 shares, compared to its average volume of 1,231,412. T. Rowe Price Group Inc has a twelve month low of $79.51 and a twelve month high of $127.43. The company has a market capitalization of $28.87 billion, a price-to-earnings ratio of 22.08, a PEG ratio of 1.51 and a beta of 1.22.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Wednesday, April 25th. The asset manager reported $1.74 EPS for the quarter, beating the consensus estimate of $1.65 by $0.09. T. Rowe Price Group had a return on equity of 26.93% and a net margin of 31.10%. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the business earned $1.18 earnings per share. The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. sell-side analysts predict that T. Rowe Price Group Inc will post 7.12 EPS for the current year.

T. Rowe Price Group declared that its board has approved a stock repurchase plan on Thursday, April 26th that permits the company to repurchase 10,000,000 outstanding shares. This repurchase authorization permits the asset manager to buy shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

The company also recently announced a quarterly dividend, which was paid on Friday, June 29th. Stockholders of record on Friday, June 15th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.33%. The ex-dividend date was Thursday, June 14th. T. Rowe Price Group’s payout ratio is 51.57%.

A number of equities analysts have weighed in on TROW shares. Credit Suisse Group boosted their price target on T. Rowe Price Group from $123.00 to $128.00 and gave the stock a “neutral” rating in a research report on Thursday, April 5th. Deutsche Bank lowered their price target on T. Rowe Price Group from $116.00 to $114.00 and set a “hold” rating on the stock in a research report on Friday, April 6th. Zacks Investment Research downgraded T. Rowe Price Group from a “hold” rating to a “sell” rating in a research report on Thursday, April 12th. Barclays boosted their price target on T. Rowe Price Group from $101.00 to $105.00 and gave the stock an “underweight” rating in a research report on Monday, April 23rd. Finally, UBS Group boosted their price target on T. Rowe Price Group from $113.00 to $117.00 and gave the stock a “neutral” rating in a research report on Thursday, April 26th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $115.73.

T. Rowe Price Group 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.

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

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