Public Employees Retirement System of Ohio Takes Position in T. Rowe Price Group, Inc. $TROW

Public Employees Retirement System of Ohio acquired a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 99,976 shares of the asset manager’s stock, valued at approximately $11,366,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of TROW. BlackRock Inc. bought a new position in T. Rowe Price Group in the 2nd quarter valued at $2,728,119,000. Goldman Sachs Group Inc. increased its holdings in shares of T. Rowe Price Group by 332.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager’s stock worth $897,880,000 after purchasing an additional 6,740,172 shares during the period. First Trust Advisors LP raised its position in shares of T. Rowe Price Group by 126.5% in the fourth quarter. First Trust Advisors LP now owns 3,280,854 shares of the asset manager’s stock worth $335,894,000 after buying an additional 1,832,231 shares in the last quarter. Legal & General Group Plc purchased a new stake in shares of T. Rowe Price Group in the second quarter worth $183,130,000. Finally, Bank of America Corp DE bought a new stake in T. Rowe Price Group during the second quarter valued at $170,572,000. Institutional investors own 73.39% of the company’s stock.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Joshua B. Nelson sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $111.82, for a total value of $1,118,200.00. Following the completion of the sale, the vice president directly owned 71,328 shares of the company’s stock, valued at $7,975,896.96. The trade was a 12.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.60% of the stock is currently owned by insiders.

T. Rowe Price Group Price Performance

NASDAQ:TROW opened at $111.24 on Monday. T. Rowe Price Group, Inc. has a 1-year low of $85.22 and a 1-year high of $122.00. The business has a 50 day moving average of $114.35 and a 200 day moving average of $103.40. The company has a market capitalization of $23.73 billion, a price-to-earnings ratio of 11.16, a PEG ratio of 3.68 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, July 31st. The asset manager reported $2.57 EPS for the quarter, topping the consensus estimate of $2.52 by $0.05. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.89 billion. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.91%. The business’s revenue was up 10.7% compared to the same quarter last year. During the same period last year, the firm posted $2.24 earnings per share. As a group, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 10.15 EPS for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Tuesday, September 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 52.16%.

Wall Street Analysts Forecast Growth

TROW has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $109.00 target price on shares of T. Rowe Price Group in a research report on Monday, August 3rd. Barclays lowered their price target on T. Rowe Price Group from $108.00 to $103.00 and set an “underweight” rating on the stock in a report on Monday, August 3rd. The Goldman Sachs Group lifted their price target on T. Rowe Price Group from $90.00 to $92.00 and gave the company a “sell” rating in a research report on Tuesday, June 30th. Morgan Stanley set a $116.00 price objective on T. Rowe Price Group in a report on Wednesday, July 29th. Finally, Weiss Ratings raised shares of T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 2nd. Ten equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $105.67.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.