Greenleaf Trust Cuts Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Greenleaf Trust reduced its position in T. Rowe Price Group, Inc. (NASDAQ:TROWGet Rating) by 18.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,625 shares of the asset manager’s stock after selling 1,260 shares during the period. Greenleaf Trust’s holdings in T. Rowe Price Group were worth $639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Congress Wealth Management LLC DE boosted its stake in shares of T. Rowe Price Group by 2.6% in the 2nd quarter. Congress Wealth Management LLC DE now owns 64,479 shares of the asset manager’s stock worth $7,326,000 after buying an additional 1,643 shares during the last quarter. United Capital Financial Advisers LLC boosted its stake in shares of T. Rowe Price Group by 31.6% in the 2nd quarter. United Capital Financial Advisers LLC now owns 29,737 shares of the asset manager’s stock worth $3,378,000 after buying an additional 7,135 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of T. Rowe Price Group by 6.9% in the 2nd quarter. Franklin Resources Inc. now owns 74,522 shares of the asset manager’s stock worth $8,468,000 after buying an additional 4,816 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of T. Rowe Price Group by 8.2% in the 2nd quarter. Rhumbline Advisers now owns 486,802 shares of the asset manager’s stock worth $55,306,000 after buying an additional 36,811 shares during the last quarter. Finally, AlphaCrest Capital Management LLC boosted its stake in shares of T. Rowe Price Group by 94.2% in the 2nd quarter. AlphaCrest Capital Management LLC now owns 10,124 shares of the asset manager’s stock worth $1,150,000 after buying an additional 4,911 shares during the last quarter. 74.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at T. Rowe Price Group

In other news, insider William J. Stromberg sold 10,000 shares of T. Rowe Price Group stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $124.15, for a total value of $1,241,500.00. Following the sale, the insider now directly owns 41,000 shares of the company’s stock, valued at $5,090,150. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.00% of the company’s stock.

T. Rowe Price Group Stock Down 0.0 %

NASDAQ:TROW opened at $124.40 on Thursday. The business’s 50-day simple moving average is $109.92 and its two-hundred day simple moving average is $116.82. The stock has a market cap of $27.80 billion, a PE ratio of 14.28, a P/E/G ratio of 2.25 and a beta of 1.25. T. Rowe Price Group, Inc. has a 52 week low of $93.53 and a 52 week high of $208.65.

T. Rowe Price Group (NASDAQ:TROWGet Rating) last posted its quarterly earnings results on Thursday, October 27th. The asset manager reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.03. T. Rowe Price Group had a return on equity of 23.88% and a net margin of 29.35%. The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same period last year, the firm earned $3.27 earnings per share. The business’s quarterly revenue was down 18.7% on a year-over-year basis. Sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 7.9 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 29th. Stockholders of record on Friday, December 16th will be issued a $1.20 dividend. The ex-dividend date is Thursday, December 15th. This represents a $4.80 annualized dividend and a dividend yield of 3.86%. T. Rowe Price Group’s dividend payout ratio (DPR) is 55.11%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. StockNews.com assumed coverage on T. Rowe Price Group in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. The Goldman Sachs Group raised their target price on T. Rowe Price Group from $84.00 to $96.00 and gave the stock a “sell” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft raised their target price on T. Rowe Price Group from $97.00 to $123.00 and gave the stock a “hold” rating in a report on Tuesday, November 15th. JPMorgan Chase & Co. raised their target price on T. Rowe Price Group from $90.00 to $93.00 and gave the stock an “underweight” rating in a report on Tuesday, October 18th. Finally, UBS Group decreased their target price on T. Rowe Price Group from $88.00 to $84.00 and set a “sell” rating on the stock in a report on Friday, July 29th. Six research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $113.90.

T. Rowe Price Group Profile

(Get Rating)

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.

Further Reading

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

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