Capital Investment Advisory Services LLC Raises Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Capital Investment Advisory Services LLC grew its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 64.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,572 shares of the asset manager's stock after buying an additional 3,344 shares during the quarter. Capital Investment Advisory Services LLC's holdings in T. Rowe Price Group were worth $787,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of TROW. Glenview Trust co boosted its position in T. Rowe Price Group by 2.2% during the 4th quarter. Glenview Trust co now owns 4,318 shares of the asset manager's stock valued at $488,000 after acquiring an additional 92 shares in the last quarter. Strategy Asset Managers LLC boosted its position in shares of T. Rowe Price Group by 5.0% in the 4th quarter. Strategy Asset Managers LLC now owns 2,277 shares of the asset manager's stock worth $258,000 after purchasing an additional 108 shares in the last quarter. Wealthcare Capital Partners LLC boosted its position in shares of T. Rowe Price Group by 1.2% in the 1st quarter. Wealthcare Capital Partners LLC now owns 9,429 shares of the asset manager's stock worth $866,000 after purchasing an additional 115 shares in the last quarter. Cullen Investment Group LTD. boosted its position in shares of T. Rowe Price Group by 0.9% in the 1st quarter. Cullen Investment Group LTD. now owns 13,554 shares of the asset manager's stock worth $1,245,000 after purchasing an additional 117 shares in the last quarter. Finally, Gen Wealth Partners Inc boosted its position in shares of T. Rowe Price Group by 3.1% in the 4th quarter. Gen Wealth Partners Inc now owns 4,651 shares of the asset manager's stock worth $526,000 after purchasing an additional 139 shares in the last quarter. 73.39% of the stock is owned by institutional investors.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total value of $190,860.00. Following the completion of the sale, the vice president owned 44,789 shares in the company, valued at approximately $4,274,214.27. This represents a 4.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jessica M. Hiebler sold 968 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $96.98, for a total value of $93,876.64. Following the completion of the sale, the insider owned 13,611 shares of the company's stock, valued at $1,319,994.78. The trade was a 6.64% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company's stock.

T. Rowe Price Group Stock Up 0.8%

TROW traded up $0.84 during mid-day trading on Tuesday, reaching $99.74. 1,052,946 shares of the company traded hands, compared to its average volume of 1,536,214. The stock has a market capitalization of $21.97 billion, a P/E ratio of 11.31, a P/E/G ratio of 3.17 and a beta of 1.49. The company's fifty day moving average price is $94.47 and its 200-day moving average price is $99.51. T. Rowe Price Group, Inc. has a 52-week low of $77.85 and a 52-week high of $125.81.

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

T. Rowe Price Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were paid a $1.27 dividend. The ex-dividend date was Friday, June 13th. This represents a $5.08 annualized dividend and a dividend yield of 5.09%. T. Rowe Price Group's dividend payout ratio (DPR) is 57.60%.

Analysts Set New Price Targets

TROW has been the topic of a number of analyst reports. JPMorgan Chase & Co. dropped their price target on T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 16th. Citigroup dropped their price target on T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Morgan Stanley boosted their price target on T. Rowe Price Group from $95.00 to $104.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 2nd. TD Cowen decreased their price objective on shares of 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. Finally, Evercore ISI decreased their price objective on shares of T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating for the company in a report on Friday, April 11th. Four equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $94.91.

T. Rowe Price Group Company Profile

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.