Leavell Investment Management Inc. Purchases 106 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Leavell Investment Management Inc. grew its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,298 shares of the asset manager’s stock after buying an additional 106 shares during the quarter. Leavell Investment Management Inc.’s holdings in T. Rowe Price Group were worth $402,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Creative Financial Designs Inc. ADV increased its stake in T. Rowe Price Group by 83.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock worth $25,000 after buying an additional 106 shares in the last quarter. First United Bank & Trust purchased a new stake in T. Rowe Price Group in the 4th quarter worth $31,000. Park Place Capital Corp increased its stake in T. Rowe Price Group by 1,775.0% in the 4th quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock worth $32,000 after buying an additional 284 shares in the last quarter. Fortitude Family Office LLC bought a new position in shares of T. Rowe Price Group during the 4th quarter valued at about $33,000. Finally, NBC Securities Inc. bought a new position in shares of T. Rowe Price Group during the 3rd quarter valued at about $39,000. 73.39% of the stock is owned by institutional investors.

T. Rowe Price Group Stock Performance

NASDAQ TROW traded down $0.77 during trading on Thursday, reaching $116.91. The company’s stock had a trading volume of 1,142,522 shares, compared to its average volume of 1,413,111. The firm has a market cap of $26.11 billion, a price-to-earnings ratio of 13.88, a P/E/G ratio of 2.02 and a beta of 1.40. T. Rowe Price Group, Inc. has a twelve month low of $87.43 and a twelve month high of $132.76. The business’s fifty day moving average price is $114.98 and its 200-day moving average price is $109.32.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.34. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.71 billion. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.69 earnings per share. As a group, sell-side analysts forecast that T. Rowe Price Group, Inc. will post 8.8 EPS 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, June 27th. Stockholders of record on Friday, June 14th will be issued a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 4.24%. The ex-dividend date is Friday, June 14th. T. Rowe Price Group’s payout ratio is 58.91%.

Analyst Ratings Changes

Several research firms recently commented on TROW. Morgan Stanley lifted their price target on T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 17th. Wells Fargo & Company boosted their price objective on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a report on Friday, February 9th. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday, February 9th. UBS Group increased their target price on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a research note on Friday, April 12th. Finally, TD Cowen upgraded shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and increased their price objective for the company from $92.00 to $114.00 in a report on Monday, April 8th. Four analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $112.10.

Insider Activity

In related news, Director Freeman A. Hrabowski III sold 8,740 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the sale, the director now owns 21,073 shares of the company’s stock, valued at $2,493,357.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Freeman A. Hrabowski III sold 8,740 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the sale, the director now owns 21,073 shares of the company’s stock, valued at $2,493,357.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert F. Maclellan sold 3,043 shares of T. Rowe Price Group stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $113.08, for a total transaction of $344,102.44. Following the transaction, the director now owns 34,635 shares of the company’s stock, valued at approximately $3,916,525.80. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

About T. Rowe Price Group

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.