Telos Capital Management Inc. Has $10.18 Million Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Telos Capital Management Inc. raised its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 94,539 shares of the asset manager’s stock after buying an additional 4,910 shares during the quarter. T. Rowe Price Group accounts for about 1.2% of Telos Capital Management Inc.’s portfolio, making the stock its 22nd biggest holding. Telos Capital Management Inc.’s holdings in T. Rowe Price Group were worth $10,181,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. OFI Invest Asset Management acquired a new position in shares of T. Rowe Price Group in the third quarter valued at $25,000. Creative Financial Designs Inc. ADV raised its stake in shares of T. Rowe Price Group by 83.5% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 106 shares in the last quarter. PCA Investment Advisory Services Inc. acquired a new position in shares of T. Rowe Price Group in the second quarter valued at $26,000. Park Place Capital Corp raised its stake in shares of T. Rowe Price Group by 1,775.0% in the fourth quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 284 shares in the last quarter. Finally, Fortitude Family Office LLC acquired a new position in shares of T. Rowe Price Group in the fourth quarter valued at $33,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Jessica M. Hiebler sold 1,138 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $107.13, for a total transaction of $121,913.94. Following the transaction, the insider now owns 14,113 shares of the company’s stock, valued at $1,511,925.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Jessica M. Hiebler sold 1,138 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $107.13, for a total transaction of $121,913.94. Following the transaction, the insider now owns 14,113 shares of the company’s stock, valued at $1,511,925.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $118.32, for a total value of $1,034,116.80. Following the transaction, the director now directly owns 21,073 shares in the company, valued at approximately $2,493,357.36. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

T. Rowe Price Group Price Performance

Shares of TROW stock traded up $0.49 during trading hours on Wednesday, hitting $112.60. 763,937 shares of the company’s stock were exchanged, compared to its average volume of 1,382,278. The stock’s 50-day moving average is $114.64 and its 200-day moving average is $106.66. The stock has a market cap of $25.18 billion, a price-to-earnings ratio of 14.45, a price-to-earnings-growth ratio of 2.20 and a beta of 1.40. T. Rowe Price Group, Inc. has a 52 week low of $87.43 and a 52 week high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Thursday, February 8th. The asset manager reported $1.72 EPS for the quarter, topping the consensus estimate of $1.60 by $0.12. The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. T. Rowe Price Group had a return on equity of 18.41% and a net margin of 27.69%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.74 earnings per share. Equities research analysts forecast that T. Rowe Price Group, Inc. will post 8.13 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 4.40%. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.22. T. Rowe Price Group’s dividend payout ratio is 63.92%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on TROW shares. JPMorgan Chase & Co. upped their target price on T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a research note on Tuesday. Wells Fargo & Company upped their price target on T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a research report on Friday, February 9th. Keefe, Bruyette & Woods upgraded T. Rowe Price Group from an “underperform” rating to a “market perform” rating and upped their price target for the company from $106.00 to $120.00 in a research report on Thursday, April 11th. TD Cowen upgraded T. Rowe Price Group from a “sell” rating to a “hold” rating and upped their price target for the company from $92.00 to $114.00 in a research report on Monday, April 8th. Finally, Citigroup upped their price target on T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Four equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $110.56.

About T. Rowe Price Group

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.