Capital Investment Counsel Inc Boosts Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Capital Investment Counsel Inc raised its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.5% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 52,132 shares of the asset manager’s stock after buying an additional 2,702 shares during the period. T. Rowe Price Group comprises about 0.9% of Capital Investment Counsel Inc’s portfolio, making the stock its 19th largest holding. Capital Investment Counsel Inc’s holdings in T. Rowe Price Group were worth $6,011,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Fisher Asset Management LLC raised its position in T. Rowe Price Group by 6.7% during the fourth quarter. Fisher Asset Management LLC now owns 1,752,005 shares of the asset manager’s stock valued at $188,674,000 after acquiring an additional 109,653 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in T. Rowe Price Group by 21.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,352,683 shares of the asset manager’s stock worth $145,685,000 after purchasing an additional 236,697 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of T. Rowe Price Group by 1.3% in the fourth quarter. First Trust Advisors LP now owns 1,173,858 shares of the asset manager’s stock valued at $126,413,000 after purchasing an additional 15,504 shares during the last quarter. Confluence Investment Management LLC purchased a new position in T. Rowe Price Group during the first quarter worth approximately $130,386,000. Finally, UBS Group AG raised its holdings in shares of T. Rowe Price Group by 473.3% during the 4th quarter. UBS Group AG now owns 975,226 shares of the asset manager’s stock worth $105,022,000 after acquiring an additional 805,106 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of TROW stock traded down $0.90 during midday trading on Tuesday, hitting $108.51. The company had a trading volume of 627,165 shares, compared to its average volume of 1,268,969. The stock has a market cap of $24.15 billion, a price-to-earnings ratio of 12.89, a PEG ratio of 1.69 and a beta of 1.42. The company’s 50 day simple moving average is $113.42 and its 200 day simple moving average is $113.91. T. Rowe Price Group, Inc. has a 52-week low of $87.43 and a 52-week high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, July 26th. The asset manager reported $2.26 earnings per share for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same quarter last year, the business earned $2.02 earnings per share. The business’s quarterly revenue was up 7.6% on a year-over-year basis. Analysts anticipate that T. Rowe Price Group, Inc. will post 8.98 EPS for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date is Friday, September 13th. T. Rowe Price Group’s dividend payout ratio is presently 58.91%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on TROW shares. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $120.00 target price (down from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Evercore ISI reduced their target price on T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 30th. TD Cowen dropped their price target on shares of T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating for the company in a research report on Monday, July 29th. Finally, JPMorgan Chase & Co. boosted their price objective on T. Rowe Price Group from $102.00 to $107.00 and gave the company an “underweight” rating in a report on Tuesday, July 23rd. Three research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $114.67.

Insiders Place Their Bets

In other news, VP Dorothy C. Sawyer sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total value of $234,000.00. Following the completion of the sale, the vice president now directly owns 34,710 shares of the company’s stock, valued at approximately $4,061,070. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Dorothy C. Sawyer sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total transaction of $234,000.00. Following the sale, the vice president now owns 34,710 shares of the company’s stock, valued at approximately $4,061,070. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jessica M. Hiebler sold 1,401 shares of the firm’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $115.85, for a total transaction of $162,305.85. Following the transaction, the insider now owns 14,198 shares of the company’s stock, valued at $1,644,838.30. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

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.