AIMZ Investment Advisors LLC Boosts Position in T. Rowe Price Group, Inc. $TROW

Key Points

• AIMZ Investment Advisors LLC increased its stake in T. Rowe Price Group, Inc. by 7.9%, holding 49,724 shares valued at approximately $4.57 million.
• The company declared a quarterly dividend of $1.27 per share, set to be paid on September 29th, which reflects an annualized dividend yield of 4.7%.
• T. Rowe Price Group reported $2.24 EPS for the last quarter, surpassing analysts' expectations of $2.15, with revenue of $1.72 billion.

AIMZ Investment Advisors LLC increased its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 7.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 49,724 shares of the asset manager's stock after buying an additional 3,639 shares during the quarter. T. Rowe Price Group comprises approximately 1.6% of AIMZ Investment Advisors LLC's investment portfolio, making the stock its 17th largest holding. AIMZ Investment Advisors LLC's holdings in T. Rowe Price Group were worth $4,568,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in T. Rowe Price Group by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 26,286,393 shares of the asset manager's stock worth $2,414,931,000 after buying an additional 222,556 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in T. Rowe Price Group by 7.2% in 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 during the period. Invesco Ltd. increased its holdings in T. Rowe Price Group by 43.2% in the 1st quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager's stock worth $315,453,000 after buying an additional 1,035,865 shares during the period. American Century Companies Inc. increased its holdings in T. Rowe Price Group by 4.9% in the 1st quarter. American Century Companies Inc. now owns 2,955,703 shares of the asset manager's stock worth $271,541,000 after buying an additional 138,515 shares during the period. Finally, Northern Trust Corp increased its holdings in T. Rowe Price Group by 3.6% in the 1st quarter. Northern Trust Corp now owns 2,374,063 shares of the asset manager's stock worth $218,105,000 after buying an additional 83,324 shares during the period. Institutional investors and hedge funds own 73.39% of the company's stock.

T. Rowe Price Group Trading Up 0.7%

TROW stock traded up $0.81 during midday trading on Wednesday, reaching $109.37. The stock had a trading volume of 933,594 shares, compared to its average volume of 1,777,064. The company's fifty day simple moving average is $102.75 and its 200 day simple moving average is $97.48. The company has a market cap of $24.03 billion, a price-to-earnings ratio of 12.22, a price-to-earnings-growth ratio of 2.82 and a beta of 1.47. 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 announced its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.09. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.72 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The firm's revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the firm posted $2.26 EPS. Sell-side analysts predict 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 disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be issued a $1.27 dividend. The ex-dividend date is Monday, September 15th. This represents a $5.08 dividend on an annualized basis and a yield of 4.6%. T. Rowe Price Group's dividend payout ratio (DPR) is presently 56.76%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods raised their price objective on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the stock a "market perform" rating in a research note on Monday, August 4th. Morgan Stanley raised their price objective on shares of T. Rowe Price Group from $112.00 to $116.00 and gave the stock an "equal weight" rating in a research note on Monday, August 4th. Evercore ISI raised their price objective on shares of T. Rowe Price Group from $106.00 to $110.00 and gave the stock an "in-line" rating in a research note on Monday, August 4th. JPMorgan Chase & Co. raised their price objective on shares of T. Rowe Price Group from $98.00 to $102.00 and gave the stock an "underweight" rating in a research note on Monday, August 4th. Finally, Wells Fargo & Company raised their price objective on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the stock an "equal weight" rating in a research note on Friday, July 11th. Eight analysts have rated the stock with a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat.com, T. Rowe Price Group currently has a consensus rating of "Reduce" and a consensus price target of $101.09.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of the firm's 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 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.60% of the company's stock.

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.