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

Willis Investment Counsel boosted its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 220,854 shares of the asset manager’s stock after buying an additional 510 shares during the period. T. Rowe Price Group accounts for approximately 1.6% of Willis Investment Counsel’s holdings, making the stock its 23rd largest holding. Willis Investment Counsel’s holdings in T. Rowe Price Group were worth $24,058,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in TROW. Confluence Investment Management LLC acquired a new stake in T. Rowe Price Group in the 1st quarter worth about $130,386,000. Los Angeles Capital Management LLC lifted its stake in shares of T. Rowe Price Group by 492.3% in the 1st quarter. Los Angeles Capital Management LLC now owns 319,887 shares of the asset manager’s stock valued at $39,001,000 after purchasing an additional 265,881 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of T. Rowe Price Group by 15.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager’s stock valued at $185,810,000 after purchasing an additional 220,105 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of T. Rowe Price Group by 77.2% in the 2nd quarter. AQR Capital Management LLC now owns 451,237 shares of the asset manager’s stock valued at $52,032,000 after purchasing an additional 196,565 shares in the last quarter. Finally, Burney Co. acquired a new position in shares of T. Rowe Price Group in the 2nd quarter valued at about $20,938,000. 73.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Barclays assumed coverage on T. Rowe Price Group in a research note on Tuesday, August 27th. They issued an “underweight” rating and a $99.00 price objective on the stock. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $120.00 price objective (down from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. TD Cowen reduced their price objective on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating on the stock in a research note on Monday, July 29th. JPMorgan Chase & Co. lifted their price objective on T. Rowe Price Group from $102.00 to $107.00 and gave the company an “underweight” rating in a research note on Tuesday, July 23rd. Finally, The Goldman Sachs Group reduced their price objective on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research note on Thursday, October 3rd. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $112.64.

T. Rowe Price Group Price Performance

Shares of TROW opened at $108.98 on Monday. The business’s fifty day moving average price is $106.75 and its 200 day moving average price is $112.26. T. Rowe Price Group, Inc. has a 12-month low of $87.43 and a 12-month high of $122.27. The stock has a market capitalization of $24.34 billion, a PE ratio of 12.94, a price-to-earnings-growth ratio of 1.79 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.01). T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter last year, the business earned $2.02 earnings per share. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, research analysts anticipate that T. Rowe Price Group, Inc. will post 9.02 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.55%. The ex-dividend date was Friday, September 13th. T. Rowe Price Group’s dividend payout ratio is presently 58.91%.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $102.83, for a total value of $1,230,772.27. Following the sale, the vice president now directly owns 123,624 shares of the company’s stock, valued at $12,712,255.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the transaction, the insider now directly owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the transaction, the vice president now directly owns 123,624 shares in the company, valued at $12,712,255.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

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.