T. Rowe Price Group, Inc. (NASDAQ:TROW) Position Raised by Willis Investment Counsel

Willis Investment Counsel increased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 233,553 shares of the asset manager’s stock after purchasing an additional 132 shares during the period. T. Rowe Price Group accounts for about 1.7% of Willis Investment Counsel’s investment portfolio, making the stock its 21st largest holding. Willis Investment Counsel owned 0.10% of T. Rowe Price Group worth $26,163,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TROW. Heritage Wealth Management LLC raised its holdings in T. Rowe Price Group by 130.0% during the fourth quarter. Heritage Wealth Management LLC now owns 230 shares of the asset manager’s stock worth $25,000 after purchasing an additional 130 shares in the last quarter. Pacifica Partners Inc. raised its holdings in T. Rowe Price Group by 400.0% during the first quarter. Pacifica Partners Inc. now owns 250 shares of the asset manager’s stock worth $27,000 after purchasing an additional 200 shares in the last quarter. Carmel Capital Partners LLC bought a new stake in T. Rowe Price Group during the first quarter worth approximately $35,000. Sunbelt Securities Inc. bought a new stake in T. Rowe Price Group during the first quarter worth approximately $42,000. Finally, ICA Group Wealth Management LLC bought a new stake in T. Rowe Price Group during the fourth quarter worth approximately $45,000. Institutional investors own 75.85% of the company’s stock.

T. Rowe Price Group Stock Down 0.4 %

Shares of T. Rowe Price Group stock traded down $0.42 on Friday, hitting $109.63. 2,388,557 shares of the company traded hands, compared to its average volume of 1,145,840. The company has a 50-day moving average price of $114.05 and a 200 day moving average price of $111.20. T. Rowe Price Group, Inc. has a 12-month low of $93.53 and a 12-month high of $134.64. The company has a market cap of $24.59 billion, a PE ratio of 16.34, a PEG ratio of 3.30 and a beta of 1.32.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, July 28th. The asset manager reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.29. T. Rowe Price Group had a net margin of 24.73% and a return on equity of 18.30%. The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the prior year, the business posted $1.79 earnings per share. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. Equities research analysts anticipate that T. Rowe Price Group, Inc. will post 7.29 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Friday, September 15th will be given a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 4.45%. The ex-dividend date is Thursday, September 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 72.73%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TROW. StockNews.com began coverage on T. Rowe Price Group in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Wells Fargo & Company upped their price target on T. Rowe Price Group from $117.00 to $123.00 and gave the company an “equal weight” rating in a report on Monday, July 31st. UBS Group upped their price target on T. Rowe Price Group from $83.00 to $90.00 and gave the company a “sell” rating in a report on Monday, July 31st. The Goldman Sachs Group upped their price target on T. Rowe Price Group from $89.50 to $100.00 and gave the company a “sell” rating in a report on Monday, July 31st. Finally, Morgan Stanley boosted their target price on shares of T. Rowe Price Group from $108.00 to $118.00 and gave the company an “equal weight” rating in a research note on Monday, July 31st. Six research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $96.73.

Insider Buying and Selling

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $111.82, for a total value of $1,338,373.58. Following the completion of the transaction, the vice president now owns 129,436 shares of the company’s stock, valued at $14,473,533.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.10% of the company’s stock.

About T. Rowe Price Group

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.