Johnson Investment Counsel Inc. Decreases Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Johnson Investment Counsel Inc. cut its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,070 shares of the asset manager’s stock after selling 250 shares during the period. Johnson Investment Counsel Inc.’s holdings in T. Rowe Price Group were worth $1,576,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in T. Rowe Price Group by 8.8% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 255,660 shares of the asset manager’s stock valued at $28,864,000 after buying an additional 20,662 shares in the last quarter. MGO One Seven LLC acquired a new stake in shares of T. Rowe Price Group during the 1st quarter worth about $203,000. Mitsubishi UFJ Trust & Banking Corp lifted its stake in T. Rowe Price Group by 4.0% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 201,311 shares of the asset manager’s stock worth $22,728,000 after purchasing an additional 7,658 shares during the last quarter. Great Lakes Advisors LLC boosted its holdings in T. Rowe Price Group by 2.4% in the first quarter. Great Lakes Advisors LLC now owns 23,679 shares of the asset manager’s stock valued at $2,673,000 after purchasing an additional 562 shares in the last quarter. Finally, TCTC Holdings LLC increased its stake in T. Rowe Price Group by 0.9% in the first quarter. TCTC Holdings LLC now owns 65,705 shares of the asset manager’s stock valued at $7,418,000 after purchasing an additional 610 shares during the last quarter. 75.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TROW. Citigroup upgraded shares of T. Rowe Price Group from a “sell” rating to a “neutral” rating and lowered their target price for the company from $100.00 to $95.00 in a report on Tuesday, October 31st. Wells Fargo & Company lifted their target price on T. Rowe Price Group from $117.00 to $123.00 and gave the stock an “equal weight” rating in a research report on Monday, July 31st. StockNews.com began coverage on T. Rowe Price Group in a research report on Thursday, October 5th. They issued a “hold” rating for the company. Deutsche Bank Aktiengesellschaft cut their price target on T. Rowe Price Group from $113.00 to $110.00 and set a “hold” rating on the stock in a research report on Wednesday, October 11th. Finally, Morgan Stanley decreased their price objective on T. Rowe Price Group from $109.00 to $101.00 and set an “equal weight” rating for the company in a report on Monday, October 30th. Five investment analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $94.45.

T. Rowe Price Group Stock Up 0.3 %

Shares of T. Rowe Price Group stock opened at $97.79 on Monday. The firm has a market cap of $21.85 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 2.21 and a beta of 1.32. T. Rowe Price Group, Inc. has a 52-week low of $87.43 and a 52-week high of $132.76. The company’s 50-day simple moving average is $100.22 and its 200-day simple moving average is $107.68.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, October 27th. The asset manager reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.39. The company had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.65 billion. T. Rowe Price Group had a return on equity of 18.79% and a net margin of 25.50%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.86 EPS. Equities research analysts anticipate that T. Rowe Price Group, Inc. will post 7.36 EPS for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be issued a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a yield of 4.99%. The ex-dividend date of this dividend is Thursday, December 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 69.52%.

Insider Buying and Selling at T. Rowe Price Group

In other news, insider William J. Stromberg sold 10,000 shares of the stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $98.48, for a total value of $984,800.00. Following the completion of the transaction, the insider now owns 49,000 shares in the company, valued at approximately $4,825,520. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other T. Rowe Price Group news, insider William J. Stromberg sold 10,000 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $98.48, for a total transaction of $984,800.00. Following the transaction, the insider now directly owns 49,000 shares in the company, valued at $4,825,520. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $1,338,373.58. Following the completion of the transaction, the vice president now directly owns 129,436 shares of the company’s stock, valued at $14,473,533.52. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,039 shares of company stock valued at $2,848,848. 2.10% of the stock is owned by company insiders.

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.