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

Capital Investment Counsel Inc trimmed its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 6.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 48,251 shares of the asset manager’s stock after selling 3,538 shares during the period. T. Rowe Price Group makes up 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.

A number of other institutional investors and hedge funds have also recently modified their holdings of TROW. Y.D. More Investments Ltd boosted its holdings in shares of T. Rowe Price Group by 124.0% during the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock worth $32,000 after buying an additional 155 shares in the last quarter. Stonebridge Financial Group LLC acquired a new position in shares of T. Rowe Price Group during the fourth quarter worth approximately $32,000. True Wealth Design LLC acquired a new position in shares of T. Rowe Price Group during the third quarter worth approximately $37,000. Larson Financial Group LLC raised its position in shares of T. Rowe Price Group by 866.7% during the third quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock worth $38,000 after purchasing an additional 312 shares during the period. Finally, Iron Horse Wealth Management LLC raised its position in shares of T. Rowe Price Group by 47.6% during the fourth quarter. Iron Horse Wealth Management LLC now owns 341 shares of the asset manager’s stock worth $39,000 after purchasing an additional 110 shares during the period. 73.39% of the stock is currently owned by institutional investors.

Insider Buying and Selling at T. Rowe Price Group

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

T. Rowe Price Group Trading Up 0.1 %

NASDAQ TROW opened at $108.49 on Friday. The firm has a market capitalization of $24.15 billion, a P/E ratio of 11.84, a PEG ratio of 2.85 and a beta of 1.44. The business has a fifty day simple moving average of $113.06 and a 200 day simple moving average of $112.27. T. Rowe Price Group, Inc. has a 12 month low of $100.49 and a 12 month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. During the same period in the prior year, the company posted $1.72 earnings per share. As a group, sell-side analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS 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. Shareholders of record on Friday, March 14th will be paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date is Friday, March 14th. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s dividend payout ratio is 54.15%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TROW. Evercore ISI upped their target price on T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft upped their target price on T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Barclays lowered their target price on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a research report on Thursday, February 6th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $113.00 target price (up from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Finally, JPMorgan Chase & Co. lowered their target price on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat, T. Rowe Price Group has a consensus rating of “Hold” and a consensus price target of $115.09.

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.