Capital Investment Counsel Inc Sells 3,538 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Capital Investment Counsel Inc lowered its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 6.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 48,251 shares of the asset manager’s stock after selling 3,538 shares during the quarter. T. Rowe Price Group accounts for approximately 0.8% of Capital Investment Counsel Inc’s investment portfolio, making the stock its 24th largest holding. Capital Investment Counsel Inc’s holdings in T. Rowe Price Group were worth $5,457,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of TROW. Creative Planning raised its holdings in shares of T. Rowe Price Group by 0.3% in the 3rd quarter. Creative Planning now owns 55,324 shares of the asset manager’s stock valued at $6,026,000 after acquiring an additional 177 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of T. Rowe Price Group by 302.3% during the 3rd quarter. Blue Trust Inc. now owns 2,615 shares of the asset manager’s stock valued at $301,000 after buying an additional 1,965 shares in the last quarter. Eastern Bank purchased a new position in shares of T. Rowe Price Group during the 3rd quarter valued at about $54,000. Private Advisor Group LLC raised its holdings in shares of T. Rowe Price Group by 10.4% during the 3rd quarter. Private Advisor Group LLC now owns 12,060 shares of the asset manager’s stock valued at $1,314,000 after buying an additional 1,134 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI raised its holdings in shares of T. Rowe Price Group by 195.0% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 10,416 shares of the asset manager’s stock valued at $1,135,000 after buying an additional 6,885 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock opened at $108.49 on Friday. The business’s 50 day simple moving average is $113.06 and its two-hundred day simple moving average is $112.27. The stock has a market capitalization of $24.15 billion, a P/E ratio of 11.84, a price-to-earnings-growth ratio of 2.85 and a beta of 1.44. T. Rowe Price Group, Inc. has a one year low of $100.49 and a one year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same period in the prior year, the business earned $1.72 earnings per share. Sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a $1.27 dividend. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date of this dividend is Friday, March 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 54.15%.

Insider Transactions at T. Rowe Price Group

In related news, VP Arif Husain sold 4,112 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total transaction of $449,318.24. Following the sale, the vice president now directly owns 36,800 shares in the company, valued at $4,021,136. The trade was a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value of $499,197.45. Following the sale, the vice president now owns 119,577 shares in the company, valued at $14,749,822.95. This represents a 3.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on TROW. Wells Fargo & Company decreased their price objective on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Evercore ISI raised their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. decreased their price objective on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. TD Cowen decreased their price objective on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Finally, StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat, T. Rowe Price Group presently has an average rating of “Hold” and an average target price of $115.09.

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.