Financial Counselors Inc. purchased a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 2,929 shares of the asset manager’s stock, valued at approximately $217,000.

Other hedge funds have also made changes to their positions in the company. Cleararc Capital Inc. increased its holdings in T. Rowe Price Group by 0.5% during the 1st quarter. Cleararc Capital Inc. now owns 5,944 shares of the asset manager’s stock worth $405,000 after acquiring an additional 31 shares during the period. Sheets Smith Wealth Management increased its holdings in T. Rowe Price Group by 0.7% during the 2nd quarter. Sheets Smith Wealth Management now owns 5,292 shares of the asset manager’s stock worth $393,000 after acquiring an additional 38 shares during the period. Good Life Advisors LLC increased its holdings in T. Rowe Price Group by 1.1% during the 2nd quarter. Good Life Advisors LLC now owns 4,650 shares of the asset manager’s stock worth $359,000 after acquiring an additional 52 shares during the period. GHP Investment Advisors Inc. increased its holdings in T. Rowe Price Group by 0.3% during the 2nd quarter. GHP Investment Advisors Inc. now owns 19,549 shares of the asset manager’s stock worth $1,451,000 after acquiring an additional 53 shares during the period. Finally, Private Trust Co. NA increased its holdings in T. Rowe Price Group by 0.8% during the 2nd quarter. Private Trust Co. NA now owns 7,307 shares of the asset manager’s stock worth $542,000 after acquiring an additional 60 shares during the period. Institutional investors own 74.20% of the company’s stock.

T. Rowe Price Group, Inc. (NASDAQ TROW) opened at 84.72 on Friday. The stock has a 50 day moving average of $83.30 and a 200-day moving average of $75.19. T. Rowe Price Group, Inc. has a one year low of $62.97 and a one year high of $85.42. The company has a market cap of $20.36 billion, a price-to-earnings ratio of 14.55 and a beta of 1.24.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Tuesday, July 25th. The asset manager reported $1.28 EPS for the quarter, topping the consensus estimate of $1.27 by $0.01. T. Rowe Price Group had a net margin of 32.64% and a return on equity of 24.38%. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the firm earned $0.76 earnings per share. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, equities analysts predict that T. Rowe Price Group, Inc. will post $5.65 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Thursday, September 14th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.69%. The ex-dividend date is Wednesday, September 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 39.18%.

A number of analysts recently weighed in on the stock. Zacks Investment Research lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Wednesday. Barclays PLC assumed coverage on shares of T. Rowe Price Group in a report on Friday, September 8th. They set an “underweight” rating and a $79.00 target price on the stock. Jefferies Group LLC reaffirmed a “buy” rating and set a $96.00 target price on shares of T. Rowe Price Group in a report on Sunday, August 20th. BidaskClub raised shares of T. Rowe Price Group from a “buy” rating to a “strong-buy” rating in a report on Monday, August 14th. Finally, ValuEngine raised shares of T. Rowe Price Group from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Four analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. T. Rowe Price Group currently has an average rating of “Hold” and a consensus price target of $81.30.

WARNING: This story was first reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this story on another domain, it was stolen and reposted in violation of United States & international copyright law. The original version of this story can be accessed at https://www.thecerbatgem.com/2017/09/16/2929-shares-in-t-rowe-price-group-inc-trow-purchased-by-financial-counselors-inc.html.

In other news, insider Jessica M. Hiebler sold 1,000 shares of the business’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $84.29, for a total value of $84,290.00. Following the transaction, the insider now owns 8,461 shares of the company’s stock, valued at $713,177.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider David Oestreicher sold 10,394 shares of the business’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $83.07, for a total transaction of $863,429.58. Following the completion of the transaction, the insider now directly owns 82,299 shares in the company, valued at approximately $6,836,577.93. The disclosure for this sale can be found here. Insiders sold 19,720 shares of company stock worth $1,630,701 in the last three months. Insiders own 3.60% of the company’s stock.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.

Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

Receive News & Stock Ratings for T. Rowe Price Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for T. Rowe Price Group Inc. and related stocks with our FREE daily email newsletter.