Chase Investment Counsel Corp Buys 3,000 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Chase Investment Counsel Corp lifted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 42.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,000 shares of the asset manager’s stock after acquiring an additional 3,000 shares during the quarter. Chase Investment Counsel Corp’s holdings in T. Rowe Price Group were worth $1,076,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in TROW. Simmons Bank increased its holdings in T. Rowe Price Group by 23.0% in the third quarter. Simmons Bank now owns 3,503 shares of the asset manager’s stock worth $367,000 after purchasing an additional 656 shares in the last quarter. L. Roy Papp & Associates LLP increased its holdings in T. Rowe Price Group by 5.8% in the fourth quarter. L. Roy Papp & Associates LLP now owns 158,875 shares of the asset manager’s stock worth $17,109,000 after purchasing an additional 8,773 shares in the last quarter. Nordea Investment Management AB increased its holdings in T. Rowe Price Group by 3.5% in the fourth quarter. Nordea Investment Management AB now owns 317,349 shares of the asset manager’s stock worth $34,299,000 after purchasing an additional 10,680 shares in the last quarter. Vest Financial LLC increased its holdings in T. Rowe Price Group by 48.8% in the fourth quarter. Vest Financial LLC now owns 280,552 shares of the asset manager’s stock worth $30,213,000 after purchasing an additional 92,059 shares in the last quarter. Finally, Cullen Investment Group LTD. bought a new stake in T. Rowe Price Group in the fourth quarter worth approximately $953,000. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Stock Down 0.2 %

T. Rowe Price Group stock traded down $0.24 during midday trading on Monday, hitting $113.78. 674,472 shares of the stock were exchanged, compared to its average volume of 1,433,393. T. Rowe Price Group, Inc. has a 52-week low of $87.43 and a 52-week high of $132.76. The stock has a market capitalization of $25.45 billion, a price-to-earnings ratio of 13.54, a price-to-earnings-growth ratio of 2.14 and a beta of 1.40. The business’s 50-day moving average price is $115.10 and its 200-day moving average price is $107.10.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, topping the consensus estimate of $2.04 by $0.34. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.71 billion. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.80%. The company’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.69 earnings per share. On average, sell-side analysts predict that T. Rowe Price Group, Inc. will post 8.36 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 Thursday, March 28th. Shareholders of record on Friday, March 15th were given a $1.24 dividend. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.22. The ex-dividend date was Thursday, March 14th. This represents a $4.96 annualized dividend and a yield of 4.36%. T. Rowe Price Group’s payout ratio is currently 58.91%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Morgan Stanley boosted their price objective on T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a report on Wednesday, April 17th. Citigroup boosted their price objective on T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, April 5th. TD Cowen upgraded T. Rowe Price Group from a “sell” rating to a “hold” rating and boosted their price objective for the company from $92.00 to $114.00 in a report on Monday, April 8th. Finally, JPMorgan Chase & Co. boosted their price objective on T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a report on Tuesday, April 16th. Four research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $112.67.

Insiders Place Their Bets

In other news, insider Jessica M. Hiebler sold 1,138 shares of the business’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 value of $121,913.94. Following the sale, the insider now owns 14,113 shares of the company’s stock, valued at $1,511,925.69. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Freeman A. Hrabowski III sold 8,740 shares of the business’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 value of $1,034,116.80. Following the sale, the director now owns 21,073 shares of the company’s stock, valued at $2,493,357.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Jessica M. Hiebler sold 1,138 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $107.13, for a total transaction of $121,913.94. Following the sale, 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. Insiders own 2.00% of the company’s stock.

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.