Kentucky Retirement Systems Boosts Holdings in T. Rowe Price Group, Inc. $TROW

Kentucky Retirement Systems raised its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 56.8% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 21,541 shares of the asset manager’s stock after buying an additional 7,807 shares during the quarter. Kentucky Retirement Systems’ holdings in T. Rowe Price Group were worth $1,804,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Strategic Investment Advisors MI lifted its stake in shares of T. Rowe Price Group by 4.0% in the 1st quarter. Strategic Investment Advisors MI now owns 10,219 shares of the asset manager’s stock worth $921,000 after acquiring an additional 393 shares during the period. Sunbelt Securities Inc. boosted its holdings in shares of T. Rowe Price Group by 1.8% in the first quarter. Sunbelt Securities Inc. now owns 9,142 shares of the asset manager’s stock valued at $824,000 after acquiring an additional 159 shares in the last quarter. Amundi increased its stake in shares of T. Rowe Price Group by 42.0% during the first quarter. Amundi now owns 1,450,652 shares of the asset manager’s stock worth $130,763,000 after acquiring an additional 428,909 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of T. Rowe Price Group by 19.1% during the first quarter. EverSource Wealth Advisors LLC now owns 1,993 shares of the asset manager’s stock worth $180,000 after acquiring an additional 319 shares during the period. Finally, Royal Bank of Canada raised its holdings in T. Rowe Price Group by 3.8% during the first quarter. Royal Bank of Canada now owns 419,071 shares of the asset manager’s stock worth $37,776,000 after purchasing an additional 15,530 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock opened at $119.28 on Friday. T. Rowe Price Group, Inc. has a 1 year low of $85.22 and a 1 year high of $122.00. The company has a market capitalization of $25.56 billion, a P/E ratio of 12.78, a P/E/G ratio of 4.26 and a beta of 1.47. The business has a 50 day moving average price of $111.60 and a 200 day moving average price of $102.08.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.15. The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.85 billion. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The business’s revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the business earned $2.23 earnings per share. As a group, research analysts expect that T. Rowe Price Group, Inc. will post 10.12 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Monday, June 15th. T. Rowe Price Group’s dividend payout ratio is currently 55.73%.

Analyst Ratings Changes

A number of equities research analysts recently commented on TROW shares. TD Cowen reduced their price objective on shares of T. Rowe Price Group from $108.00 to $107.00 and set a “hold” rating for the company in a research report on Monday, July 20th. Evercore set a $121.00 target price on T. Rowe Price Group in a research note on Friday, July 10th. The Goldman Sachs Group raised their price target on T. Rowe Price Group from $90.00 to $92.00 and gave the company a “sell” rating in a report on Tuesday, June 30th. Barclays lifted their price target on T. Rowe Price Group from $89.00 to $108.00 and gave the company an “underweight” rating in a research note on Tuesday, July 14th. Finally, Keefe, Bruyette & Woods upped their price objective on T. Rowe Price Group from $107.00 to $120.00 and gave the stock a “market perform” rating in a report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $105.08.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total value of $307,680.00. Following the sale, the vice president directly owned 83,883 shares of the company’s stock, valued at approximately $8,603,040.48. This trade represents a 3.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.60% of the company’s stock.

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.