T. Rowe Price Group, Inc. (NASDAQ:TROW) Stock Holdings Lifted by Capital Investment Advisory Services LLC

Capital Investment Advisory Services LLC lifted its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 56.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,281 shares of the asset manager’s stock after purchasing an additional 1,902 shares during the period. Capital Investment Advisory Services LLC’s holdings in T. Rowe Price Group were worth $569,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of TROW. International Assets Investment Management LLC increased its holdings in shares of T. Rowe Price Group by 8,968.6% in the 4th quarter. International Assets Investment Management LLC now owns 902,146 shares of the asset manager’s stock worth $97,152,000 after acquiring an additional 892,198 shares during the period. Qube Research & Technologies Ltd acquired a new stake in shares of T. Rowe Price Group in the 3rd quarter worth about $21,114,000. Robeco Institutional Asset Management B.V. increased its holdings in shares of T. Rowe Price Group by 282.6% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 201,435 shares of the asset manager’s stock worth $21,124,000 after acquiring an additional 148,787 shares during the period. Charles Schwab Investment Management Inc. increased its stake in T. Rowe Price Group by 2.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,900,101 shares of the asset manager’s stock valued at $513,874,000 after buying an additional 134,839 shares during the period. Finally, Invesco Ltd. increased its stake in T. Rowe Price Group by 7.6% during the 3rd quarter. Invesco Ltd. now owns 1,684,057 shares of the asset manager’s stock valued at $176,607,000 after buying an additional 119,305 shares during the period. 73.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on TROW. Morgan Stanley raised their target price on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 17th. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. UBS Group raised 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 report on Friday, April 12th. Keefe, Bruyette & Woods upgraded shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and raised their price objective for the company from $106.00 to $120.00 in a research report on Thursday, April 11th. Finally, TD Cowen upgraded shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and raised their price objective for the company from $92.00 to $114.00 in a research report on Monday, April 8th. Four investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $112.67.

T. Rowe Price Group Price Performance

Shares of TROW opened at $111.50 on Tuesday. T. Rowe Price Group, Inc. has a one year low of $87.43 and a one year high of $132.76. The company has a 50-day moving average of $114.75 and a two-hundred day moving average of $106.89. The stock has a market cap of $24.94 billion, a price-to-earnings ratio of 14.37, a PEG ratio of 2.04 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Thursday, February 8th. The asset manager reported $1.72 EPS for the quarter, topping the consensus estimate of $1.60 by $0.12. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.41%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the company posted $1.74 earnings per share. Analysts anticipate that T. Rowe Price Group, Inc. will post 8.36 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a dividend of $1.24 per share. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.22. This represents a $4.96 annualized dividend and a dividend yield of 4.45%. The ex-dividend date was Thursday, March 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 63.92%.

Insider Buying and Selling

In related news, insider Jessica M. Hiebler sold 1,138 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $107.13, for a total transaction of $121,913.94. Following the completion of the sale, the insider now directly owns 14,113 shares in the company, valued at $1,511,925.69. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the transaction, the director now owns 21,073 shares of the company’s stock, valued at $2,493,357.36. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jessica M. Hiebler sold 1,138 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $107.13, for a total transaction of $121,913.94. Following the transaction, the insider now directly owns 14,113 shares in the company, valued at approximately $1,511,925.69. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

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.