Commonwealth of Pennsylvania Public School Empls Retrmt SYS Acquires 3,120 Shares of T. Rowe Price Group, Inc. $TROW

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 6.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,034 shares of the asset manager’s stock after acquiring an additional 3,120 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in T. Rowe Price Group were worth $5,214,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Foundations Investment Advisors LLC acquired a new stake in T. Rowe Price Group during the second quarter worth about $2,974,000. Clearstead Trust LLC lifted its position in shares of T. Rowe Price Group by 87.3% in the 2nd quarter. Clearstead Trust LLC now owns 1,236 shares of the asset manager’s stock worth $119,000 after acquiring an additional 576 shares during the period. Arvest Bank Trust Division acquired a new stake in shares of T. Rowe Price Group during the 2nd quarter worth approximately $1,265,000. Thompson Davis & CO. Inc. acquired a new stake in shares of T. Rowe Price Group during the 2nd quarter worth approximately $1,825,000. Finally, Capital Investment Counsel Inc increased its position in shares of T. Rowe Price Group by 1.8% during the second quarter. Capital Investment Counsel Inc now owns 54,620 shares of the asset manager’s stock valued at $5,271,000 after purchasing an additional 972 shares during the period. 73.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on TROW shares. Jefferies Financial Group lifted their price target on shares of T. Rowe Price Group from $104.00 to $106.00 and gave the stock a “hold” rating in a research note on Tuesday, October 7th. BMO Capital Markets assumed coverage on shares of T. Rowe Price Group in a research report on Friday, October 3rd. They set a “market perform” rating and a $108.00 target price on the stock. Zacks Research raised shares of T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. Weiss Ratings restated a “hold (c)” rating on shares of T. Rowe Price Group in a research note on Wednesday, October 8th. Finally, The Goldman Sachs Group lifted their price objective on T. Rowe Price Group from $93.00 to $98.00 in a report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $109.38.

Insider Activity at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,090 shares of T. Rowe Price Group stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $105.01, for a total transaction of $324,480.90. Following the transaction, the director owned 47,335 shares of the company’s stock, valued at $4,970,648.35. This trade represents a 6.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is currently owned by company insiders.

T. Rowe Price Group Trading Up 0.1%

TROW opened at $97.48 on Wednesday. T. Rowe Price Group, Inc. has a 1-year low of $77.85 and a 1-year high of $125.81. The stock has a market capitalization of $21.27 billion, a PE ratio of 10.89, a PEG ratio of 5.61 and a beta of 1.51. The firm has a 50-day moving average price of $103.62 and a two-hundred day moving average price of $101.51.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, October 31st. The asset manager reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.55 by $0.26. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.88 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the company earned $2.57 EPS. On average, research analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be given a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 5.2%. The ex-dividend date is Monday, December 15th. T. Rowe Price Group’s payout ratio is presently 55.34%.

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.