Ironwood Investment Counsel LLC Purchases 685 Shares of T. Rowe Price Group, Inc. $TROW

Ironwood Investment Counsel LLC increased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.1% during the second quarter, HoldingsChannel.com reports. The firm owned 14,234 shares of the asset manager’s stock after buying an additional 685 shares during the period. 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.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Illinois Municipal Retirement Fund increased its stake in 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 valued at $7,367,000 after acquiring an additional 7,500 shares during the period. ProShare Advisors LLC boosted its stake 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 purchasing an additional 337,112 shares in the last quarter. Zions Bancorporation National Association UT lifted its holdings in T. Rowe Price Group by 154.7% during the 2nd quarter. Zions Bancorporation National Association UT now owns 759 shares of the asset manager’s stock valued at $73,000 after purchasing an additional 461 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC grew its stake in T. Rowe Price Group by 3.2% during the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,535 shares of the asset manager’s stock worth $438,000 after buying an additional 142 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of T. Rowe Price Group by 35.8% in 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 acquiring an additional 61,807 shares in the last quarter. 73.39% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TROW has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft decreased their target price on T. Rowe Price Group from $114.00 to $112.00 and set a “hold” rating on the stock in a report on Monday, November 3rd. BMO Capital Markets began coverage on shares of T. Rowe Price Group in a research note on Friday, October 3rd. They issued a “market perform” rating and a $108.00 price objective on the stock. Zacks Research upgraded T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Barclays set a $101.00 target price on T. Rowe Price Group in a research report on Monday, November 3rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of T. Rowe Price Group from $109.00 to $111.00 and gave the company an “underweight” rating in a research report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $109.31.

T. Rowe Price Group Price Performance

TROW stock opened at $103.67 on Wednesday. The stock has a market capitalization of $22.62 billion, a P/E ratio of 11.58, a P/E/G ratio of 5.61 and a beta of 1.51. The business has a 50-day moving average of $104.32 and a 200-day moving average of $101.09. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81.

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

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be given a dividend of $1.27 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $5.08 annualized dividend and a yield of 4.9%. T. Rowe Price Group’s dividend payout ratio is 55.34%.

Insider Activity

In other news, Director Robert F. Maclellan sold 3,090 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $105.01, for a total transaction of $324,480.90. Following the sale, the director owned 47,335 shares in the company, valued at $4,970,648.35. This represents a 6.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 2.00% of the stock is currently owned by corporate 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.