California Public Employees Retirement System Cuts Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

California Public Employees Retirement System reduced its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 404,502 shares of the asset manager’s stock after selling 9,244 shares during the period. California Public Employees Retirement System owned 0.18% of T. Rowe Price Group worth $43,561,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of TROW. OFI Invest Asset Management purchased a new position in shares of T. Rowe Price Group during the 3rd quarter worth about $25,000. Creative Financial Designs Inc. ADV lifted its holdings in shares of T. Rowe Price Group by 83.5% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock worth $25,000 after acquiring an additional 106 shares during the period. Park Place Capital Corp lifted its holdings in shares of T. Rowe Price Group by 1,775.0% during the 4th quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock worth $32,000 after acquiring an additional 284 shares during the period. Fortitude Family Office LLC acquired a new stake in T. Rowe Price Group during the 4th quarter worth approximately $33,000. Finally, NBC Securities Inc. acquired a new stake in T. Rowe Price Group during the 3rd quarter worth approximately $39,000. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on TROW shares. JPMorgan Chase & Co. increased their target price on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 16th. Wells Fargo & Company increased their price objective on shares of 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. UBS Group increased their price objective on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research report on Friday, April 12th. Morgan Stanley increased their price objective on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 17th. Finally, Citigroup increased their price objective on shares of 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 stock. Based on data from MarketBeat.com, T. Rowe Price Group currently has a consensus rating of “Hold” and a consensus target price of $112.67.

T. Rowe Price Group Trading Up 4.8 %

TROW stock opened at $114.02 on Friday. T. Rowe Price Group, Inc. has a twelve month low of $87.43 and a twelve month high of $132.76. The company has a market capitalization of $25.50 billion, a P/E ratio of 14.69, a PEG ratio of 2.04 and a beta of 1.40. The firm has a 50 day simple moving average of $115.10 and a 200-day simple moving average of $107.07.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.34. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.41%. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter last year, the company earned $1.69 earnings per share. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. On average, research analysts predict that T. Rowe Price Group, Inc. will post 8.36 EPS for the current year.

T. Rowe Price Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a dividend of $1.24 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.22. This represents a $4.96 annualized dividend and a yield of 4.35%. T. Rowe Price Group’s dividend payout ratio (DPR) is 63.92%.

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.