Strs Ohio Boosts Stock Holdings in T. Rowe Price Group, Inc. $TROW

Strs Ohio grew its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 24.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,819 shares of the asset manager’s stock after acquiring an additional 4,670 shares during the quarter. Strs Ohio’s holdings in T. Rowe Price Group were worth $2,299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. DAVENPORT & Co LLC boosted its holdings in shares of T. Rowe Price Group by 20.9% in the 1st quarter. DAVENPORT & Co LLC now owns 9,185 shares of the asset manager’s stock worth $844,000 after buying an additional 1,589 shares during the last quarter. Private Trust Co. NA boosted its holdings in shares of T. Rowe Price Group by 47.4% in the 1st quarter. Private Trust Co. NA now owns 2,903 shares of the asset manager’s stock worth $267,000 after buying an additional 933 shares during the last quarter. IFM Investors Pty Ltd boosted its holdings in shares of T. Rowe Price Group by 11.1% in the 1st quarter. IFM Investors Pty Ltd now owns 43,476 shares of the asset manager’s stock worth $3,994,000 after buying an additional 4,341 shares during the last quarter. Wayfinding Financial LLC purchased a new position in shares of T. Rowe Price Group in the 1st quarter worth about $43,000. Finally, World Investment Advisors boosted its holdings in shares of T. Rowe Price Group by 34.1% in the 1st quarter. World Investment Advisors now owns 3,558 shares of the asset manager’s stock worth $327,000 after buying an additional 904 shares during the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Trading Down 0.8%

TROW stock opened at $101.71 on Tuesday. The company’s 50 day moving average is $104.96 and its 200 day moving average is $100.43. The stock has a market cap of $22.35 billion, a price-to-earnings ratio of 11.36, a price-to-earnings-growth ratio of 5.61 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.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, October 31st. The asset manager reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.26. The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.88 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. T. Rowe Price Group’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.57 earnings per share. As a group, sell-side analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be given a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 5.0%. The ex-dividend date is Monday, December 15th. T. Rowe Price Group’s dividend payout ratio is 55.34%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TROW. Morgan Stanley boosted their price target on shares of T. Rowe Price Group from $125.00 to $126.00 and gave the stock an “equal weight” rating in a report on Monday, October 27th. BMO Capital Markets began coverage on shares of T. Rowe Price Group in a report on Friday, October 3rd. They issued a “market perform” rating and a $108.00 price target on the stock. The Goldman Sachs Group boosted their price target on shares of T. Rowe Price Group from $91.00 to $92.00 and gave the stock a “sell” rating in a report on Friday, October 3rd. TD Cowen boosted their price target on shares of T. Rowe Price Group from $108.00 to $112.00 and gave the stock a “hold” rating in a report on Monday. Finally, Jefferies Financial Group boosted their price objective on T. Rowe Price Group from $104.00 to $106.00 and gave the company a “hold” rating in a research note on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $108.08.

Insider Buying and Selling at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,090 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $105.01, for a total value of $324,480.90. Following the transaction, the director directly owned 47,335 shares in the company, valued at approximately $4,970,648.35. This represents a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.00% of the company’s stock.

About T. Rowe Price Group

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.