T. Rowe Price Group Inc (NASDAQ:TROW)’s Board Director Mark S. Bartlett, purchased yesterday, June 24, 4,500 shares of the company’s Common Stock. He paid a price of $83.32 per share and, after spending $374,940 in stock, his holdings amount to 9,950 shares, directly owned.
I should highlight that this is the first insider purchase at T. Rowe Price Group Inc (NASDAQ:TROW) in almost three years. This $21.9 billion market cap financial services company has last seen an insider buy its stock in August 2011.
But, unlike most of T. Rowe Price’s insiders, hedge funds seem to like this company quite much. John W. Rogers’ Ariel Investments last declared having slightly increased its position in the company, to 457,960 shares, worth more than $37 million. Same is the case of Phill Gross and Robert Atchinson’s Adage Capital Management, which now owns 385,120 shares, up 2% over Q1.
Disclosure: Javier Hasse holds no position in any stocks mentioned