Telos Capital Management Inc. Has $11.73 Million Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Telos Capital Management Inc. raised its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.5% in the second quarter, Holdings Channel reports. The fund owned 101,701 shares of the asset manager’s stock after purchasing an additional 1,487 shares during the quarter. T. Rowe Price Group accounts for approximately 1.3% of Telos Capital Management Inc.’s investment portfolio, making the stock its 21st largest holding. Telos Capital Management Inc.’s holdings in T. Rowe Price Group were worth $11,727,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Fisher Asset Management LLC raised its position in T. Rowe Price Group by 6.6% in the fourth quarter. Fisher Asset Management LLC now owns 1,751,405 shares of the asset manager’s stock valued at $188,609,000 after purchasing an additional 109,053 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in T. Rowe Price Group by 21.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,352,683 shares of the asset manager’s stock worth $145,685,000 after acquiring an additional 236,697 shares during the last quarter. First Trust Advisors LP raised its stake in shares of T. Rowe Price Group by 1.3% during the fourth quarter. First Trust Advisors LP now owns 1,173,858 shares of the asset manager’s stock valued at $126,413,000 after acquiring an additional 15,504 shares during the last quarter. Confluence Investment Management LLC acquired a new position in shares of T. Rowe Price Group during the first quarter worth $130,386,000. Finally, UBS Group AG increased its holdings in T. Rowe Price Group by 473.3% in the fourth quarter. UBS Group AG now owns 975,226 shares of the asset manager’s stock valued at $105,022,000 after purchasing an additional 805,106 shares during the period. 73.39% of the stock is owned by institutional investors.

Insider Transactions at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 1,401 shares of the firm’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $115.85, for a total value of $162,305.85. Following the transaction, the insider now owns 14,198 shares of the company’s stock, valued at approximately $1,644,838.30. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Jessica M. Hiebler sold 1,401 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total value of $162,305.85. Following the completion of the sale, the insider now directly owns 14,198 shares of the company’s stock, valued at approximately $1,644,838.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total transaction of $234,000.00. Following the transaction, the vice president now directly owns 34,710 shares in the company, valued at $4,061,070. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. TD Cowen cut their target price on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating on the stock in a report on Monday, July 29th. Barclays assumed coverage on T. Rowe Price Group in a report on Tuesday, August 27th. They issued an “underweight” rating and a $99.00 target price on the stock. JPMorgan Chase & Co. raised their price target on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a report on Tuesday, July 23rd. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $120.00 target price (down previously from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. Four research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $113.10.

T. Rowe Price Group Trading Up 1.0 %

T. Rowe Price Group stock traded up $1.08 during midday trading on Friday, reaching $106.04. The stock had a trading volume of 1,832,001 shares, compared to its average volume of 1,028,377. The company has a fifty day moving average price of $111.93 and a two-hundred day moving average price of $113.87. The company has a market capitalization of $23.60 billion, a P/E ratio of 12.59, a PEG ratio of 1.69 and a beta of 1.42. T. Rowe Price Group, Inc. has a 12 month low of $87.43 and a 12 month high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.79 billion. T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. T. Rowe Price Group’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.02 earnings per share. On average, equities research analysts predict that T. Rowe Price Group, Inc. will post 9 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date of this dividend is Friday, September 13th. T. Rowe Price Group’s dividend payout ratio is currently 58.91%.

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.