California Public Employees Retirement System Has $43.56 Million Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

California Public Employees Retirement System trimmed its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 404,502 shares of the asset manager’s stock after selling 9,244 shares during the quarter. California Public Employees Retirement System’s holdings in T. Rowe Price Group were worth $43,561,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. OFI Invest Asset Management acquired a new position in shares of T. Rowe Price Group in the third quarter valued at $25,000. Creative Financial Designs Inc. ADV raised its stake in shares of T. Rowe Price Group by 83.5% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 106 shares in the last quarter. Park Place Capital Corp raised its stake in shares of T. Rowe Price Group by 1,775.0% in the fourth quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 284 shares in the last quarter. Fortitude Family Office LLC acquired a new position in shares of T. Rowe Price Group in the fourth quarter valued at $33,000. Finally, NBC Securities Inc. acquired a new position in shares of T. Rowe Price Group in the third quarter valued at $39,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 8,740 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $118.32, for a total value of $1,034,116.80. Following the transaction, the director now owns 21,073 shares of the company’s stock, valued at $2,493,357.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Jessica M. Hiebler sold 1,138 shares of T. Rowe Price Group stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $107.13, for a total value of $121,913.94. Following the sale, the insider now owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Freeman A. Hrabowski III sold 8,740 shares of T. Rowe Price Group stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $118.32, for a total value of $1,034,116.80. Following the completion of the sale, the director now directly owns 21,073 shares in the company, valued at approximately $2,493,357.36. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on TROW shares. Keefe, Bruyette & Woods upgraded T. Rowe Price Group from an “underperform” rating to a “market perform” rating and upped their target price for the company from $106.00 to $120.00 in a research note on Thursday, April 11th. UBS Group upped their price target on T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research report on Friday, April 12th. JPMorgan Chase & Co. increased their target price on T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. Citigroup increased their target price on T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Finally, TD Cowen upgraded T. Rowe Price Group from a “sell” rating to a “hold” rating and increased their target price for the stock from $92.00 to $114.00 in a report on Monday, April 8th. Four research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $112.67.

T. Rowe Price Group Stock Up 4.8 %

T. Rowe Price Group stock opened at $114.02 on Friday. The business’s 50-day simple moving average is $115.10 and its 200 day simple moving average is $107.07. The stock has a market cap of $25.50 billion, a price-to-earnings ratio of 14.69, a P/E/G ratio of 2.04 and a beta of 1.40. T. Rowe Price Group, Inc. has a 12-month low of $87.43 and a 12-month high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.34. T. Rowe Price Group had a return on equity of 18.41% and a net margin of 27.69%. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the prior year, the firm posted $1.69 earnings per share. The company’s quarterly revenue was up 13.8% on a year-over-year basis. As a group, sell-side analysts expect that T. Rowe Price Group, Inc. will post 8.36 EPS for the current year.

T. Rowe Price Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a $1.24 dividend. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.22. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $4.96 annualized dividend and a yield of 4.35%. T. Rowe Price Group’s dividend payout ratio is presently 63.92%.

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.