Teacher Retirement System of Texas Sells 8,976 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Teacher Retirement System of Texas lowered its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 6.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 130,529 shares of the asset manager’s stock after selling 8,976 shares during the quarter. Teacher Retirement System of Texas’ holdings in T. Rowe Price Group were worth $14,762,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Quest Partners LLC boosted its position in shares of T. Rowe Price Group by 442,900.0% during the 3rd quarter. Quest Partners LLC now owns 4,430 shares of the asset manager’s stock worth $483,000 after purchasing an additional 4,429 shares in the last quarter. Pathstone Holdings LLC boosted its position in shares of T. Rowe Price Group by 3.4% during the 3rd quarter. Pathstone Holdings LLC now owns 27,535 shares of the asset manager’s stock worth $2,999,000 after purchasing an additional 894 shares in the last quarter. Strategy Asset Managers LLC boosted its position in shares of T. Rowe Price Group by 4.6% during the 3rd quarter. Strategy Asset Managers LLC now owns 2,169 shares of the asset manager’s stock worth $236,000 after purchasing an additional 95 shares in the last quarter. Ontario Teachers Pension Plan Board boosted its position in shares of T. Rowe Price Group by 52.3% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 6,789 shares of the asset manager’s stock worth $740,000 after purchasing an additional 2,332 shares in the last quarter. Finally, King Luther Capital Management Corp boosted its position in shares of T. Rowe Price Group by 1.5% during the 3rd quarter. King Luther Capital Management Corp now owns 26,742 shares of the asset manager’s stock worth $2,913,000 after purchasing an additional 387 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on TROW shares. Wells Fargo & Company cut their price objective on shares of T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $113.00 price objective (up previously from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Morgan Stanley lowered their target price on shares of T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating on the stock in a report on Monday, February 24th. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Finally, Barclays lowered their target price on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a report on Thursday, February 6th. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $114.09.

Insider Activity

In related news, VP Arif Husain sold 4,112 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value of $449,318.24. Following the completion of the transaction, the vice president now directly owns 36,800 shares of the company’s stock, valued at approximately $4,021,136. This trade represents a 10.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Down 0.2 %

T. Rowe Price Group stock opened at $92.83 on Friday. T. Rowe Price Group, Inc. has a twelve month low of $91.37 and a twelve month high of $125.81. The firm has a 50 day moving average price of $106.39 and a 200-day moving average price of $111.14. The company has a market capitalization of $20.67 billion, a P/E ratio of 10.13, a P/E/G ratio of 2.86 and a beta of 1.46.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. During the same quarter in the prior year, the company earned $1.72 EPS. Equities analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $1.27 per share. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.47%. The ex-dividend date is Friday, March 14th. T. Rowe Price Group’s dividend payout ratio is currently 55.46%.

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.