Ironwood Investment Counsel LLC Has $1.37 Million Stock Position in T. Rowe Price Group, Inc. $TROW

Ironwood Investment Counsel LLC increased its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,234 shares of the asset manager’s stock after purchasing an additional 685 shares during the quarter. Ironwood Investment Counsel LLC’s holdings in T. Rowe Price Group were worth $1,374,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of TROW. Illinois Municipal Retirement Fund increased its position in shares of T. Rowe Price Group by 10.9% in the second quarter. Illinois Municipal Retirement Fund now owns 76,340 shares of the asset manager’s stock worth $7,367,000 after acquiring an additional 7,500 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of T. Rowe Price Group by 21.7% in the 2nd quarter. ProShare Advisors LLC now owns 1,887,935 shares of the asset manager’s stock valued at $182,186,000 after acquiring an additional 337,112 shares in the last quarter. Zions Bancorporation National Association UT lifted its position in shares of T. Rowe Price Group by 154.7% in the 2nd quarter. Zions Bancorporation National Association UT now owns 759 shares of the asset manager’s stock valued at $73,000 after acquiring an additional 461 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC boosted its stake in T. Rowe Price Group by 3.2% in the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,535 shares of the asset manager’s stock worth $438,000 after purchasing an additional 142 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in T. Rowe Price Group by 35.8% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 234,516 shares of the asset manager’s stock worth $22,631,000 after purchasing an additional 61,807 shares in the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Trading Up 0.7%

Shares of T. Rowe Price Group stock opened at $103.67 on Wednesday. T. Rowe Price Group, Inc. has a 1-year low of $77.85 and a 1-year high of $125.81. The firm has a fifty day simple moving average of $104.32 and a 200-day simple moving average of $101.09. The stock has a market capitalization of $22.62 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 5.61 and a beta of 1.51.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, October 31st. The asset manager reported $2.81 EPS for the quarter, topping the consensus estimate of $2.55 by $0.26. The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.88 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.57 EPS. As a group, research analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be issued a $1.27 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $5.08 dividend on an annualized basis and a yield of 4.9%. T. Rowe Price Group’s dividend payout ratio (DPR) is 55.34%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on TROW shares. TD Cowen boosted their target price on shares of T. Rowe Price Group from $108.00 to $112.00 and gave the company a “hold” rating in a research note on Monday, November 3rd. BMO Capital Markets initiated coverage on T. Rowe Price Group in a report on Friday, October 3rd. They set a “market perform” rating and a $108.00 price target on the stock. Citigroup upped their price target on T. Rowe Price Group from $105.00 to $107.00 in a research report on Monday, November 3rd. Keefe, Bruyette & Woods raised their price objective on T. Rowe Price Group from $115.00 to $117.00 and gave the stock a “market perform” rating in a research report on Monday, November 3rd. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on T. Rowe Price Group from $114.00 to $112.00 and set a “hold” rating on the stock in a research note on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $109.31.

Insider Buying and Selling at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,090 shares of the stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $105.01, for a total value of $324,480.90. Following the completion of the sale, the director directly owned 47,335 shares of the company’s stock, valued at approximately $4,970,648.35. This represents a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate 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.