Capital Investment Advisory Services LLC Raises Holdings 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 the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,572 shares of the asset manager's stock after buying an additional 3,344 shares during the period. Capital Investment Advisory Services LLC's holdings in T. Rowe Price Group were worth $787,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Brookstone Capital Management boosted its position in shares of T. Rowe Price Group by 7.0% in the first quarter. Brookstone Capital Management now owns 107,202 shares of the asset manager's stock worth $9,849,000 after purchasing an additional 7,026 shares during the period. IFM Investors Pty Ltd boosted its holdings in T. Rowe Price Group by 11.1% in the 1st quarter. IFM Investors Pty Ltd now owns 43,476 shares of the asset manager's stock worth $3,994,000 after buying an additional 4,341 shares during the period. Goelzer Investment Management Inc. boosted its holdings in T. Rowe Price Group by 2.7% in the 1st quarter. Goelzer Investment Management Inc. now owns 66,276 shares of the asset manager's stock worth $6,089,000 after buying an additional 1,773 shares during the period. D.A. Davidson & CO. increased its stake in T. Rowe Price Group by 36.9% in the 1st quarter. D.A. Davidson & CO. now owns 110,434 shares of the asset manager's stock worth $10,146,000 after buying an additional 29,774 shares in the last quarter. Finally, Mutual Advisors LLC raised its holdings in T. Rowe Price Group by 29.9% during the first quarter. Mutual Advisors LLC now owns 53,950 shares of the asset manager's stock valued at $4,771,000 after acquiring an additional 12,405 shares during the period. 73.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on TROW shares. Evercore ISI dropped their price target on T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating for the company in a research note on Friday, April 11th. Morgan Stanley lifted their price target on shares of T. Rowe Price Group from $95.00 to $104.00 and gave the company an "equal weight" rating in a report on Wednesday, July 2nd. Citigroup decreased their price target on shares of T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Wells Fargo & Company reduced their target price on T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Finally, Barclays increased their price target on T. Rowe Price Group from $85.00 to $90.00 and gave the company an "underweight" rating in a research note on Monday, May 5th. Four research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. According to data from MarketBeat.com, T. Rowe Price Group presently has a consensus rating of "Hold" and an average price target of $94.91.

T. Rowe Price Group Trading Down 1.2%

Shares of NASDAQ TROW traded down $1.25 during trading hours on Monday, hitting $98.90. 1,346,692 shares of the company traded hands, compared to its average volume of 1,534,911. The company's 50 day moving average price is $94.26 and its 200 day moving average price is $99.63. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $125.81. The stock has a market capitalization of $21.79 billion, a price-to-earnings ratio of 11.21, a price-to-earnings-growth ratio of 3.21 and a beta of 1.49.

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 earnings per share for the quarter, beating analysts' consensus estimates of $2.13 by $0.10. T. Rowe Price Group had a net margin of 28.38% and a return on equity of 20.17%. The business had revenue of $1.76 billion for the quarter, compared to analysts' expectations of $1.80 billion. During the same quarter in the previous year, the business posted $2.38 earnings per share. The business's revenue was up .8% compared to the same quarter last year. Equities analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were issued a dividend of $1.27 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $5.08 annualized dividend and a yield of 5.14%. T. Rowe Price Group's payout ratio is 57.60%.

Insider Transactions at T. Rowe Price Group

In related news, VP Dorothy C. Sawyer sold 2,000 shares of the firm's 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 sale, the vice president directly owned 44,789 shares of the company's stock, valued at approximately $4,274,214.27. This trade represents a 4.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jessica M. Hiebler sold 968 shares of the company's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $96.98, for a total value of $93,876.64. Following the completion of the transaction, the insider directly owned 13,611 shares in the company, valued at $1,319,994.78. This trade represents 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.

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.