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

Cornercap Investment Counsel Inc. acquired a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 14,537 shares of the asset manager's stock, valued at approximately $1,584,000.

Other large investors also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. raised its position in T. Rowe Price Group by 14.3% in the first quarter. Oppenheimer Asset Management Inc. now owns 2,674 shares of the asset manager's stock valued at $326,000 after purchasing an additional 334 shares during the period. QRG Capital Management Inc. grew its stake in shares of T. Rowe Price Group by 8.0% in the first quarter. QRG Capital Management Inc. now owns 5,059 shares of the asset manager's stock valued at $617,000 after buying an additional 376 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of T. Rowe Price Group by 9.8% during the 1st quarter. Russell Investments Group Ltd. now owns 122,763 shares of the asset manager's stock valued at $14,943,000 after buying an additional 10,944 shares during the period. State Board of Administration of Florida Retirement System lifted its position in T. Rowe Price Group by 3.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 257,796 shares of the asset manager's stock worth $29,105,000 after acquiring an additional 9,519 shares in the last quarter. Finally, HBK Sorce Advisory LLC boosted its holdings in T. Rowe Price Group by 8.9% in the 1st quarter. HBK Sorce Advisory LLC now owns 3,123 shares of the asset manager's stock worth $381,000 after acquiring an additional 256 shares during the period. Institutional investors and hedge funds own 73.39% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. StockNews.com downgraded shares of T. Rowe Price Group from a "buy" rating to a "hold" rating in a research note on Monday, July 29th. Evercore ISI boosted their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company an "in-line" rating in a research note on Thursday, November 7th. Keefe, Bruyette & Woods restated a "market perform" rating and set a $120.00 price objective (down previously from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft upped their target price on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the stock a "hold" rating in a research report on Monday. Finally, Barclays increased their price objective on T. Rowe Price Group from $101.00 to $110.00 and gave the stock an "underweight" rating in a report on Monday, November 4th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat, T. Rowe Price Group presently has a consensus rating of "Hold" and an average target price of $115.55.

T. Rowe Price Group Trading Down 0.9 %

Shares of NASDAQ TROW traded down $1.03 during midday trading on Friday, reaching $118.77. The company's stock had a trading volume of 1,317,710 shares, compared to its average volume of 1,266,373. T. Rowe Price Group, Inc. has a one year low of $96.46 and a one year high of $122.27. The company has a 50 day moving average price of $110.43 and a 200 day moving average price of $112.12. The company has a market cap of $26.39 billion, a price-to-earnings ratio of 13.17, a price-to-earnings-growth ratio of 1.68 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, beating the consensus estimate of $2.36 by $0.21. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. T. Rowe Price Group's revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.17 earnings per share. Research analysts anticipate that T. Rowe Price Group, Inc. will post 9.33 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a dividend of $1.24 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.18%. T. Rowe Price Group's dividend payout ratio is currently 54.27%.

Insider Activity at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction dated 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 owns 13,939 shares of the company's stock, valued at approximately $1,459,831.47. This represents a 3.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business's stock in a transaction on Friday, September 6th. The stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the completion of the sale, the vice president now owns 123,624 shares of the company's stock, valued at $12,712,255.92. The trade was a 8.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

T. Rowe Price Group Company 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.