Capital Investment Advisory Services LLC Increases Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Capital Investment Advisory Services LLC increased its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 56.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,281 shares of the asset manager’s stock after buying an additional 1,902 shares during the quarter. Capital Investment Advisory Services LLC’s holdings in T. Rowe Price Group were worth $569,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. OFI Invest Asset Management acquired a new position in T. Rowe Price Group during the third quarter valued at $25,000. Creative Financial Designs Inc. ADV lifted its position in T. Rowe Price Group by 83.5% during 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 during the period. Park Place Capital Corp lifted its position in 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 purchasing an additional 284 shares during the period. Fortitude Family Office LLC acquired a new position in T. Rowe Price Group during the fourth quarter valued at $33,000. Finally, NBC Securities Inc. acquired a new position in T. Rowe Price Group during the third quarter valued at $39,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Up 2.5 %

TROW opened at $111.50 on Tuesday. T. Rowe Price Group, Inc. has a twelve month low of $87.43 and a twelve month high of $132.76. The company has a 50-day moving average price of $114.75 and a 200 day moving average price of $106.89. The company has a market cap of $24.94 billion, a PE ratio of 14.37, a price-to-earnings-growth ratio of 2.04 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Thursday, February 8th. The asset manager reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.12. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.41%. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the prior year, the company earned $1.74 EPS. T. Rowe Price Group’s revenue was up 6.5% compared to the same quarter last year. As a group, sell-side analysts expect that T. Rowe Price Group, Inc. will post 8.36 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

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

Insider Activity at T. Rowe Price Group

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

Analyst Ratings Changes

TROW has been the subject of a number of research reports. Citigroup boosted their target price on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. TD Cowen upgraded shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and upped their price objective for the stock from $92.00 to $114.00 in a research report on Monday, April 8th. Wells Fargo & Company upped their price objective on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the stock an “underweight” rating in a research report on Friday, February 9th. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Finally, Keefe, Bruyette & Woods upgraded shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and upped their price objective for the stock from $106.00 to $120.00 in a research report on Thursday, April 11th. Four equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat.com, T. Rowe Price Group currently has a consensus rating of “Hold” and a consensus price target of $112.67.

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.