T. Rowe Price Group, Inc. $TROW Shares Sold by R.H. Dinel Investment Counsel Inc.

Key Points

• R.H. Dinel Investment Counsel Inc. reduced its stake in T. Rowe Price Group by 7.2%, now holding 42,050 shares valued at approximately $4.06 million.
• Brokerages are optimistic about T. Rowe Price Group, with target price increases from firms like JPMorgan and Morgan Stanley, reflecting a generally favorable outlook despite varying ratings.
• T. Rowe Price Group has announced a quarterly dividend of $1.27 per share, yielding 4.8% annually, with a payout ratio of 56.76%.

R.H. Dinel Investment Counsel Inc. trimmed its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 7.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,050 shares of the asset manager's stock after selling 3,250 shares during the period. T. Rowe Price Group makes up 2.7% of R.H. Dinel Investment Counsel Inc.'s investment portfolio, making the stock its 12th largest holding. R.H. Dinel Investment Counsel Inc.'s holdings in T. Rowe Price Group were worth $4,058,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in TROW. Invesco Ltd. boosted its stake in shares of T. Rowe Price Group by 43.2% during the 1st quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager's stock worth $315,453,000 after purchasing an additional 1,035,865 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of T. Rowe Price Group by 7.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager's stock worth $707,973,000 after buying an additional 519,075 shares in the last quarter. GAMMA Investing LLC boosted its holdings in T. Rowe Price Group by 9,555.5% during the first quarter. GAMMA Investing LLC now owns 333,212 shares of the asset manager's stock worth $30,612,000 after buying an additional 329,761 shares in the last quarter. Vanguard Group Inc. boosted its position in T. Rowe Price Group by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 26,286,393 shares of the asset manager's stock worth $2,414,931,000 after acquiring an additional 222,556 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in T. Rowe Price Group during the fourth quarter worth $21,113,000. Hedge funds and other institutional investors own 73.39% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Barclays reaffirmed an "underweight" rating and set a $95.00 price target (up previously from $91.00) on shares of T. Rowe Price Group in a research note on Monday, August 4th. Keefe, Bruyette & Woods upped their price target on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the company a "market perform" rating in a research report on Monday, August 4th. JPMorgan Chase & Co. lifted their price target on T. Rowe Price Group from $98.00 to $102.00 and gave the stock an "underweight" rating in a report on Monday, August 4th. Zacks Research cut shares of T. Rowe Price Group from a "strong-buy" rating to a "hold" rating in a report on Monday, September 8th. Finally, Evercore ISI reaffirmed a "positive" rating on shares of T. Rowe Price Group in a research note on Friday, September 5th. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Reduce" and a consensus price target of $101.55.

T. Rowe Price Group Price Performance

Shares of TROW stock traded down $0.70 on Monday, hitting $105.29. 1,174,609 shares of the stock traded hands, compared to its average volume of 1,562,810. T. Rowe Price Group, Inc. has a 1-year low of $77.85 and a 1-year high of $125.81. The company has a market capitalization of $23.13 billion, a PE ratio of 11.76, a PEG ratio of 2.75 and a beta of 1.51. The company's fifty day moving average is $106.15 and its 200 day moving average is $97.58.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, topping the consensus estimate of $2.15 by $0.09. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the previous year, the business posted $2.26 EPS. The company's revenue for the quarter was down .6% on a year-over-year basis. As a group, equities research analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be paid a dividend of $1.27 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.8%. T. Rowe Price Group's dividend payout ratio is currently 56.76%.

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.