Capital Investment Counsel Inc Trims Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Capital Investment Counsel Inc lessened its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 6.5% during the 1st quarter, Holdings Channel reports. The firm owned 49,430 shares of the asset manager’s stock after selling 3,445 shares during the quarter. T. Rowe Price Group comprises 1.0% of Capital Investment Counsel Inc’s investment portfolio, making the stock its 19th biggest holding. Capital Investment Counsel Inc’s holdings in T. Rowe Price Group were worth $6,027,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Creative Financial Designs Inc. ADV lifted its holdings in shares of T. Rowe Price Group by 83.5% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 106 shares in the last quarter. First United Bank & Trust purchased a new position in shares of T. Rowe Price Group during the fourth quarter valued at approximately $31,000. Park Place Capital Corp lifted its stake in shares of T. Rowe Price Group by 1,775.0% during the fourth quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock valued at $32,000 after buying an additional 284 shares during the period. Fortitude Family Office LLC purchased a new position in shares of T. Rowe Price Group during the fourth quarter valued at approximately $33,000. Finally, CVA Family Office LLC purchased a new position in shares of T. Rowe Price Group during the fourth quarter valued at approximately $39,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Activity at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,043 shares of the firm’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $113.08, for a total transaction of $344,102.44. Following the completion of the sale, the director now directly owns 34,635 shares of the company’s stock, valued at approximately $3,916,525.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Robert F. Maclellan sold 3,043 shares of the firm’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $113.08, for a total transaction of $344,102.44. Following the completion of the sale, the director now directly owns 34,635 shares of the company’s stock, valued at approximately $3,916,525.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Dorothy C. Sawyer sold 2,000 shares of the firm’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total transaction of $234,000.00. Following the sale, the vice president now directly owns 34,710 shares of the company’s stock, valued at $4,061,070. The disclosure for this sale can be found here. In the last three months, insiders sold 6,444 shares of company stock valued at $740,408. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Down 0.8 %

Shares of T. Rowe Price Group stock traded down $0.98 during trading hours on Friday, hitting $114.79. The company’s stock had a trading volume of 853,886 shares, compared to its average volume of 890,380. T. Rowe Price Group, Inc. has a 1-year low of $87.43 and a 1-year high of $132.76. The business has a fifty day moving average of $115.33 and a 200 day moving average of $113.15. The company has a market capitalization of $25.63 billion, a PE ratio of 13.63, a P/E/G ratio of 1.98 and a beta of 1.42.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.34. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the prior year, the business earned $1.69 earnings per share. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. On average, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 8.84 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Friday, June 14th were issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date was Friday, June 14th. T. Rowe Price Group’s payout ratio is 58.91%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on TROW shares. Keefe, Bruyette & Woods raised shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and upped their price objective for the company from $106.00 to $120.00 in a research note on Thursday, April 11th. Citigroup upped their price objective on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. UBS Group upped their price objective on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research note on Friday, April 12th. Evercore ISI reduced their price objective on shares of T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 30th. Finally, Morgan Stanley upped their price target on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 17th. Four equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $112.10.

T. Rowe Price Group 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.