Broadleaf Partners LLC raised its holdings in T. Rowe Price Group Inc (NASDAQ:TROW) by 26.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 21,893 shares of the asset manager’s stock after acquiring an additional 4,588 shares during the quarter. T. Rowe Price Group comprises 1.6% of Broadleaf Partners LLC’s portfolio, making the stock its 29th largest position. Broadleaf Partners LLC’s holdings in T. Rowe Price Group were worth $2,390,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the business. JLB & Associates Inc. boosted its stake in T. Rowe Price Group by 25.8% in the third quarter. JLB & Associates Inc. now owns 5,415 shares of the asset manager’s stock valued at $591,000 after acquiring an additional 1,111 shares during the last quarter. Daiwa SB Investments Ltd. bought a new position in T. Rowe Price Group in the third quarter valued at approximately $202,000. Ipswich Investment Management Co. Inc. bought a new position in T. Rowe Price Group in the third quarter valued at approximately $608,000. Smith Shellnut Wilson LLC ADV bought a new position in T. Rowe Price Group in the third quarter valued at approximately $250,000. Finally, United Capital Management of KS Inc. bought a new position in T. Rowe Price Group in the third quarter valued at approximately $204,000. 70.34% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have issued reports on the stock. Morgan Stanley raised their price objective on shares of T. Rowe Price Group from $116.00 to $118.00 and gave the company a “hold” rating in a research note on Tuesday. BidaskClub cut shares of T. Rowe Price Group from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 1st. Wells Fargo & Co raised their price objective on shares of T. Rowe Price Group from $114.00 to $124.00 and gave the company a “market perform” rating in a research note on Friday, July 13th. Zacks Investment Research cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, July 15th. Finally, Deutsche Bank cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Friday, September 7th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $118.33.
In other news, Director Freeman A. Hrabowski III sold 4,500 shares of T. Rowe Price Group stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $121.74, for a total transaction of $547,830.00. Following the transaction, the director now directly owns 9,640 shares of the company’s stock, valued at $1,173,573.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Christopher D. Alderson sold 41,639 shares of the business’s stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $121.89, for a total transaction of $5,075,377.71. Following the completion of the sale, the vice president now directly owns 114,860 shares in the company, valued at $14,000,285.40. The disclosure for this sale can be found here. Company insiders own 3.10% of the company’s stock.
Shares of NASDAQ TROW traded up $1.73 during midday trading on Friday, reaching $100.24. 100,979 shares of the stock were exchanged, compared to its average volume of 1,400,815. The stock has a market cap of $26.55 billion, a price-to-earnings ratio of 18.41, a P/E/G ratio of 1.36 and a beta of 1.19. T. Rowe Price Group Inc has a 12 month low of $90.95 and a 12 month high of $127.43.
T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Wednesday, July 25th. The asset manager reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.11. The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.33 billion. T. Rowe Price Group had a net margin of 31.67% and a return on equity of 28.49%. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period last year, the firm posted $1.28 earnings per share. As a group, analysts forecast that T. Rowe Price Group Inc will post 7.25 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Friday, September 14th were given a dividend of $0.70 per share. The ex-dividend date was Thursday, September 13th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.79%. T. Rowe Price Group’s dividend payout ratio is 51.57%.
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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