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

Capital Investment Counsel Inc grew its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 11.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 53,648 shares of the asset manager's stock after purchasing an additional 5,397 shares during the period. T. Rowe Price Group makes up about 0.7% of Capital Investment Counsel Inc's holdings, making the stock its 24th biggest position. Capital Investment Counsel Inc's holdings in T. Rowe Price Group were worth $4,929,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of TROW. Vanguard Group Inc. raised its holdings in shares of T. Rowe Price Group by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 26,063,837 shares of the asset manager's stock worth $2,947,559,000 after acquiring an additional 135,203 shares during the last quarter. Fayez Sarofim & Co boosted its stake in shares of T. Rowe Price Group by 7.6% during the 4th quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager's stock worth $684,474,000 after purchasing an additional 425,142 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of T. Rowe Price Group by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 5,631,429 shares of the asset manager's stock worth $635,260,000 after purchasing an additional 116,231 shares during the period. Invesco Ltd. grew its holdings in T. Rowe Price Group by 1.7% in the fourth quarter. Invesco Ltd. now owns 2,397,819 shares of the asset manager's stock valued at $271,169,000 after purchasing an additional 40,514 shares during the period. Finally, Northern Trust Corp raised its stake in T. Rowe Price Group by 10.0% during the fourth quarter. Northern Trust Corp now owns 2,290,739 shares of the asset manager's stock worth $259,060,000 after purchasing an additional 208,304 shares during the period. 73.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TROW. TD Cowen dropped their price objective on T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating for the company in a report on Wednesday, April 9th. JPMorgan Chase & Co. cut their price target on shares of T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating on the stock in a report on Wednesday, April 16th. Bank of America decreased their price objective on shares of T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating for the company in a research note on Thursday, April 3rd. The Goldman Sachs Group lowered their price target on T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating for the company in a report on Monday, April 14th. Finally, Cowen reaffirmed a "hold" rating on shares of T. Rowe Price Group in a research report on Monday, May 5th. Four equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $94.91.

T. Rowe Price Group Stock Performance

NASDAQ:TROW opened at $99.96 on Thursday. The company has a market capitalization of $22.02 billion, a price-to-earnings ratio of 11.33, a price-to-earnings-growth ratio of 3.20 and a beta of 1.49. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $125.81. The stock has a 50-day simple moving average of $93.81 and a 200 day simple moving average of $100.07.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.10. The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.80 billion. T. Rowe Price Group had a return on equity of 20.17% and a net margin of 28.38%. The business's revenue was up .8% on a year-over-year basis. During the same quarter last year, the business posted $2.38 EPS. On average, equities research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.08%. The ex-dividend date of this dividend was Friday, June 13th. T. Rowe Price Group's dividend payout ratio is currently 57.60%.

Insiders Place Their Bets

In related news, insider Jessica M. Hiebler sold 968 shares of T. Rowe Price Group stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $96.98, for a total transaction of $93,876.64. Following the transaction, the insider directly owned 13,611 shares of the company's stock, valued at $1,319,994.78. The trade was a 6.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total transaction of $190,860.00. Following the completion of the transaction, the vice president owned 44,789 shares in the company, valued at approximately $4,274,214.27. This trade represents a 4.27% decrease in their position. The disclosure for this sale can be found here. Company 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.

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