Greenleaf Trust Sells 596 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Greenleaf Trust lowered its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 11.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,638 shares of the asset manager’s stock after selling 596 shares during the quarter. Greenleaf Trust’s holdings in T. Rowe Price Group were worth $505,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in TROW. Lynx Investment Advisory purchased a new stake in T. Rowe Price Group during the second quarter valued at approximately $29,000. Hexagon Capital Partners LLC grew its position in shares of T. Rowe Price Group by 54.7% during the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 104 shares during the period. Family Firm Inc. purchased a new stake in shares of T. Rowe Price Group in the 2nd quarter worth $36,000. Versant Capital Management Inc raised its holdings in T. Rowe Price Group by 660.5% in the 2nd quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock worth $38,000 after purchasing an additional 284 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in T. Rowe Price Group by 93.6% during the first quarter. EverSource Wealth Advisors LLC now owns 331 shares of the asset manager’s stock valued at $40,000 after purchasing an additional 160 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Down 0.6 %

Shares of T. Rowe Price Group stock opened at $111.33 on Friday. T. Rowe Price Group, Inc. has a twelve month low of $87.43 and a twelve month high of $122.27. The business has a 50-day moving average price of $108.02 and a 200-day moving average price of $111.90. The firm has a market cap of $24.86 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 1.86 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.79 billion. T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The business’s revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.02 EPS. On average, equities analysts expect that T. Rowe Price Group, Inc. will post 9.09 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.46%. The ex-dividend date was Friday, September 13th. T. Rowe Price Group’s dividend payout ratio is presently 58.91%.

Insider Activity at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the sale, the insider now directly owns 13,939 shares in the company, valued at $1,459,831.47. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the sale, the insider now directly owns 13,939 shares of the company’s stock, valued at $1,459,831.47. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the sale, the vice president now owns 123,624 shares in the company, valued at approximately $12,712,255.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TROW. Morgan Stanley upped their price target on T. Rowe Price Group from $125.00 to $127.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Evercore ISI raised their target price on shares of T. Rowe Price Group from $108.00 to $109.00 and gave the stock an “in-line” rating in a research note on Friday, October 4th. JPMorgan Chase & Co. upped their price target on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 23rd. TD Cowen lowered their target price on shares of T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating on the stock in a research note on Monday, July 29th. Finally, Wells Fargo & Company increased their price target on T. Rowe Price Group from $109.00 to $112.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 9th. Four investment analysts have rated the stock with a sell rating and eight 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 a consensus target price of $113.00.

T. Rowe Price Group Company 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.