Johnson Investment Counsel Inc. Has $1.58 Million Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Johnson Investment Counsel Inc. cut its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.7% in the second quarter, Holdings Channel.com reports. The fund owned 14,070 shares of the asset manager’s stock after selling 250 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in T. Rowe Price Group were worth $1,576,000 as of its most recent SEC filing.

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

T. Rowe Price Group Trading Up 0.3 %

Shares of NASDAQ:TROW opened at $97.79 on Monday. The business’s 50 day moving average is $100.22 and its 200-day moving average is $107.68. The firm has a market capitalization of $21.85 billion, a PE ratio of 13.93, a PEG ratio of 2.21 and a beta of 1.32. T. Rowe Price Group, Inc. has a 1-year low of $87.43 and a 1-year high of $132.76.

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

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be given a $1.22 dividend. This represents a $4.88 annualized dividend 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 presently 69.52%.

Insiders Place Their Bets

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $111.82, for a total value of $1,338,373.58. Following the sale, the vice president now owns 129,436 shares of the company’s stock, valued at approximately $14,473,533.52. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group 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 approximately $14,473,533.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Andrew C. Mccormick sold 5,040 shares of the company’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $103.63, for a total transaction of $522,295.20. Following the sale, the vice president now directly owns 64,440 shares in the company, valued at $6,677,917.20. The disclosure for this sale can be found here. Insiders sold a total of 27,039 shares of company stock worth $2,848,848 over the last quarter. Company insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft decreased their target price on T. Rowe Price Group from $113.00 to $110.00 and set a “hold” rating for the company in a research report on Wednesday, October 11th. Morgan Stanley lowered their target price on shares of T. Rowe Price Group from $109.00 to $101.00 and set an “equal weight” rating on the stock in a research note on Monday, October 30th. Citigroup raised shares of T. Rowe Price Group from a “sell” rating to a “neutral” rating and cut their target price for the stock from $100.00 to $95.00 in a research report on Tuesday, October 31st. StockNews.com assumed coverage on T. Rowe Price Group in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. Finally, UBS Group boosted their price objective on T. Rowe Price Group from $83.00 to $90.00 and gave the stock a “sell” rating in a research report on Monday, July 31st. Five research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat, T. Rowe Price Group has a consensus rating of “Hold” and an average target price of $94.45.

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.