VIRGINIA RETIREMENT SYSTEMS ET Al Acquires New Shares in T. Rowe Price Group, Inc. $TROW

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 390,900 shares of the asset manager’s stock, valued at approximately $37,722,000.

Other institutional investors also recently bought and sold shares of the company. Invesco Ltd. increased its holdings in shares of T. Rowe Price Group by 43.2% during the 1st quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager’s stock valued at $315,453,000 after acquiring an additional 1,035,865 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in T. Rowe Price Group by 7.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager’s stock worth $707,973,000 after purchasing an additional 519,075 shares during the period. Vanguard Group Inc. boosted its position in T. Rowe Price Group by 0.9% during the first quarter. Vanguard Group Inc. now owns 26,286,393 shares of the asset manager’s stock worth $2,414,931,000 after purchasing an additional 222,556 shares during the period. Vest Financial LLC grew its holdings in T. Rowe Price Group by 31.1% during the second quarter. Vest Financial LLC now owns 616,351 shares of the asset manager’s stock valued at $59,478,000 after purchasing an additional 146,382 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of T. Rowe Price Group by 505.5% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 172,709 shares of the asset manager’s stock valued at $15,867,000 after purchasing an additional 144,187 shares during the period. 73.39% of the stock is currently owned by institutional investors.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the company’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $105.01, for a total value of $324,480.90. Following the sale, the director directly owned 47,335 shares in the company, valued at $4,970,648.35. This represents a 6.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.00% of the stock is owned by company insiders.

T. Rowe Price Group Trading Up 0.5%

TROW opened at $103.70 on Friday. The stock has a market cap of $22.78 billion, a PE ratio of 11.59, a P/E/G ratio of 5.69 and a beta of 1.50. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81. The stock’s 50 day simple moving average is $105.78 and its 200-day simple moving average is $98.88.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.09. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same period last year, the firm earned $2.26 EPS. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. Equities analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were issued a $1.27 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.9%. T. Rowe Price Group’s dividend payout ratio is presently 56.76%.

Analysts Set New Price Targets

TROW has been the subject of several recent analyst reports. Barclays reaffirmed an “underweight” rating and set a $95.00 price objective (up from $91.00) on shares of T. Rowe Price Group in a report on Monday, August 4th. Wells Fargo & Company upped their price target on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the company an “equal weight” rating in a report on Friday, July 11th. Zacks Research upgraded T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. BMO Capital Markets initiated coverage on T. Rowe Price Group in a research note on Friday, October 3rd. They set a “market perform” rating and a $108.00 target price for the company. Finally, Keefe, Bruyette & Woods raised their target price on T. Rowe Price Group from $112.00 to $115.00 and gave the company a “hold” rating in a report on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $106.92.

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.