Creative Financial Designs Inc. ADV Has $505,000 Stake in T. Rowe Price Group Inc (TROW)

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Creative Financial Designs Inc. ADV lifted its stake in T. Rowe Price Group Inc (NASDAQ:TROW) by 56.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,044 shares of the asset manager’s stock after purchasing an additional 1,823 shares during the quarter. Creative Financial Designs Inc. ADV’s holdings in T. Rowe Price Group were worth $505,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Reilly Financial Advisors LLC raised its holdings in T. Rowe Price Group by 66.3% in the 4th quarter. Reilly Financial Advisors LLC now owns 296 shares of the asset manager’s stock worth $27,000 after acquiring an additional 118 shares during the last quarter. Ruggie Capital Group purchased a new position in T. Rowe Price Group in the 4th quarter worth approximately $28,000. Spectrum Management Group Inc. raised its holdings in T. Rowe Price Group by 105.3% in the 1st quarter. Spectrum Management Group Inc. now owns 308 shares of the asset manager’s stock worth $31,000 after acquiring an additional 158 shares during the last quarter. Financial Gravity Companies Inc. purchased a new position in T. Rowe Price Group in the 4th quarter worth approximately $30,000. Finally, Pearl River Capital LLC purchased a new position in T. Rowe Price Group in the 4th quarter worth approximately $31,000. 72.91% of the stock is currently owned by hedge funds and other institutional investors.

TROW traded up $1.01 during mid-day trading on Tuesday, reaching $107.50. 822,771 shares of the company traded hands, compared to its average volume of 1,383,811. The firm has a market cap of $25.45 billion, a PE ratio of 15.03, a P/E/G ratio of 1.76 and a beta of 1.04. T. Rowe Price Group Inc has a 52-week low of $84.59 and a 52-week high of $127.43.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Wednesday, January 30th. The asset manager reported $1.41 earnings per share for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.25). The company had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.33 billion. T. Rowe Price Group had a net margin of 33.95% and a return on equity of 29.16%. T. Rowe Price Group’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.52 earnings per share. Research analysts expect that T. Rowe Price Group Inc will post 6.9 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.76 per share. The ex-dividend date was Thursday, March 14th. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $0.70. This represents a $3.04 dividend on an annualized basis and a yield of 2.83%. T. Rowe Price Group’s payout ratio is currently 42.52%.

A number of brokerages recently weighed in on TROW. Zacks Investment Research upgraded shares of T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $116.00 price objective for the company in a report on Wednesday, April 3rd. Bank of America set a $112.00 price objective on shares of T. Rowe Price Group and gave the stock a “buy” rating in a report on Tuesday, April 9th. Citigroup boosted their price objective on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the stock a “neutral” rating in a report on Monday, April 15th. Jefferies Financial Group boosted their price objective on shares of T. Rowe Price Group from $103.00 to $119.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Finally, BidaskClub upgraded shares of T. Rowe Price Group from a “sell” rating to a “hold” rating in a research note on Wednesday, March 13th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. T. Rowe Price Group presently has an average rating of “Hold” and a consensus price target of $106.17.

In other news, insider Edward C. Bernard sold 10,000 shares of the company’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $97.15, for a total value of $971,500.00. Following the completion of the sale, the insider now directly owns 651,532 shares in the company, valued at approximately $63,296,333.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP W. Sharps Robert sold 2,617 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $100.73, for a total value of $263,610.41. Following the completion of the sale, the vice president now owns 448,651 shares of the company’s stock, valued at $45,192,615.23. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 117,082 shares of company stock valued at $11,361,948. Company insiders own 3.10% of the company’s stock.

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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.

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

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