Cornercap Investment Counsel Inc. Has $1.59 Million Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Cornercap Investment Counsel Inc. lessened its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,013 shares of the asset manager’s stock after selling 524 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in T. Rowe Price Group were worth $1,585,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Larson Financial Group LLC boosted its position in shares of T. Rowe Price Group by 866.7% during the 3rd quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 312 shares in the last quarter. Brooklyn Investment Group acquired a new stake in T. Rowe Price Group during the third quarter valued at approximately $43,000. Townsquare Capital LLC grew its stake in shares of T. Rowe Price Group by 6.6% in the 3rd quarter. Townsquare Capital LLC now owns 4,839 shares of the asset manager’s stock valued at $527,000 after purchasing an additional 299 shares during the period. Bridgewater Associates LP raised its holdings in shares of T. Rowe Price Group by 794.1% in the 3rd quarter. Bridgewater Associates LP now owns 15,879 shares of the asset manager’s stock worth $1,730,000 after buying an additional 14,103 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in T. Rowe Price Group by 6.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 61,737 shares of the asset manager’s stock valued at $6,725,000 after buying an additional 3,969 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Trading Down 3.3 %

TROW stock opened at $91.57 on Friday. The stock has a 50-day moving average price of $104.61 and a two-hundred day moving average price of $110.82. T. Rowe Price Group, Inc. has a 1 year low of $91.10 and a 1 year high of $125.81. The stock has a market cap of $20.39 billion, a PE ratio of 10.00, a price-to-earnings-growth ratio of 2.86 and a beta of 1.46.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results 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 last year, the business posted $1.72 earnings per share. On average, analysts forecast 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 business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 5.55%. The ex-dividend date of this dividend was 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 presently 55.46%.

Insider Activity at T. Rowe Price Group

In related news, VP Arif Husain sold 4,112 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value of $449,318.24. Following the completion of the sale, the vice president now directly owns 36,800 shares in the company, valued at approximately $4,021,136. This trade represents a 10.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

TROW has been the subject of a number of analyst reports. Barclays cut their price objective on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $113.00 price target (up from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Morgan Stanley decreased their price objective on shares of T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating on the stock in a research note on Monday, February 24th. Wells Fargo & Company cut their target price on shares of T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Finally, StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $114.09.

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.