Illinois Municipal Retirement Fund Sells 7,130 Shares of T. Rowe Price Group, Inc. $TROW

Illinois Municipal Retirement Fund decreased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 7.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 93,885 shares of the asset manager’s stock after selling 7,130 shares during the period. Illinois Municipal Retirement Fund’s holdings in T. Rowe Price Group were worth $8,463,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in TROW. State Street Corp raised its position in T. Rowe Price Group by 0.3% during the fourth quarter. State Street Corp now owns 14,159,797 shares of the asset manager’s stock valued at $1,449,680,000 after purchasing an additional 45,530 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of T. Rowe Price Group by 332.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager’s stock valued at $897,880,000 after purchasing an additional 6,740,172 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of T. Rowe Price Group by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,073,846 shares of the asset manager’s stock valued at $826,600,000 after purchasing an additional 143,109 shares in the last quarter. Invesco Ltd. increased its stake in shares of T. Rowe Price Group by 3.9% in the 4th quarter. Invesco Ltd. now owns 3,520,858 shares of the asset manager’s stock valued at $360,465,000 after purchasing an additional 131,438 shares during the last quarter. Finally, Morgan Stanley increased its stake in shares of T. Rowe Price Group by 16.0% in the 4th quarter. Morgan Stanley now owns 3,443,322 shares of the asset manager’s stock valued at $352,528,000 after purchasing an additional 476,219 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Wall Street Analyst Weigh In

TROW has been the subject of several recent analyst reports. Jefferies Financial Group dropped their price objective on T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating for the company in a research report on Wednesday, April 8th. The Goldman Sachs Group boosted their target price on T. Rowe Price Group from $90.00 to $92.00 and gave the stock a “sell” rating in a research note on Tuesday, June 30th. JPMorgan Chase & Co. dropped their target price on shares of T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating for the company in a report on Friday, April 24th. Weiss Ratings upgraded shares of T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 2nd. Finally, TD Cowen lifted their price target on shares of T. Rowe Price Group from $93.00 to $94.00 and gave the company a “hold” rating in a report on Friday, May 1st. 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 company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $103.42.

T. Rowe Price Group Price Performance

NASDAQ:TROW opened at $117.35 on Friday. T. Rowe Price Group, Inc. has a one year low of $85.22 and a one year high of $121.17. The company has a market cap of $25.14 billion, a PE ratio of 12.58, a P/E/G ratio of 4.28 and a beta of 1.47. The firm’s 50 day simple moving average is $108.85 and its 200 day simple moving average is $101.32.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results 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 firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.85 billion. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The company’s revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.23 EPS. Equities research analysts expect that T. Rowe Price Group, Inc. will post 10.07 EPS for the current year.

T. Rowe Price Group Announces Dividend

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

Insiders Place Their Bets

In related news, VP Stephon A. Jackson sold 3,000 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total value of $307,680.00. Following the completion of the sale, the vice president directly owned 83,883 shares in the company, valued at $8,603,040.48. This represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.60% of the stock is owned by insiders.

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.