T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Purchased by Capital Investment Advisory Services LLC

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

Other institutional investors have also recently added to or reduced their stakes in the company. Curio Wealth LLC acquired a new stake in T. Rowe Price Group during the 4th quarter worth $27,000. Smallwood Wealth Investment Management LLC acquired a new stake in T. Rowe Price Group during the 1st quarter worth $39,000. Ameriflex Group Inc. acquired a new stake in T. Rowe Price Group during the 4th quarter worth $42,000. Summit Securities Group LLC acquired a new stake in T. Rowe Price Group during the 4th quarter worth $57,000. Finally, CX Institutional acquired a new stake in T. Rowe Price Group during the 1st quarter worth $57,000. Institutional investors and hedge funds own 73.39% of the company's stock.

T. Rowe Price Group Trading Up 1.4%

TROW traded up $1.35 on Wednesday, hitting $101.09. The company had a trading volume of 950,243 shares, compared to its average volume of 1,537,082. The firm has a market cap of $22.27 billion, a P/E ratio of 11.46, a PEG ratio of 3.17 and a beta of 1.49. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81. The company's fifty day moving average price is $94.69 and its 200 day moving average price is $99.51.

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

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were paid a dividend of $1.27 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $5.08 dividend on an annualized basis and a yield of 5.03%. T. Rowe Price Group's dividend payout ratio (DPR) is presently 57.60%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Wells Fargo & Company lowered their target price on shares of T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. The Goldman Sachs Group lowered their target price on shares of T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating on the stock in a research note on Monday, April 14th. Cowen reiterated a "hold" rating on shares of T. Rowe Price Group in a report on Monday, May 5th. Citigroup reduced their price target on T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Finally, JPMorgan Chase & Co. reduced their price target on 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. Four equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $94.91.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 968 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $96.98, for a total transaction of $93,876.64. Following the sale, the insider directly owned 13,611 shares in the company, valued at $1,319,994.78. This represents a 6.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Dorothy C. Sawyer sold 2,000 shares of the company'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 sale, the vice president owned 44,789 shares in the company, valued at $4,274,214.27. The trade was a 4.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

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.