T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 8.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 226,932 shares of the asset manager’s stock after selling 19,896 shares during the period. New York State Common Retirement Fund’s holdings in T. Rowe Price Group were worth $24,438,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of TROW. AE Wealth Management LLC lifted its stake in shares of T. Rowe Price Group by 19.2% in the 3rd quarter. AE Wealth Management LLC now owns 11,878 shares of the asset manager’s stock valued at $1,246,000 after purchasing an additional 1,914 shares in the last quarter. Czech National Bank lifted its position in T. Rowe Price Group by 47.5% during the 3rd quarter. Czech National Bank now owns 39,202 shares of the asset manager’s stock worth $4,111,000 after acquiring an additional 12,618 shares in the last quarter. Simplicity Solutions LLC lifted its position in T. Rowe Price Group by 3.4% during the 3rd quarter. Simplicity Solutions LLC now owns 3,391 shares of the asset manager’s stock worth $356,000 after acquiring an additional 112 shares in the last quarter. Grimes & Company Inc. lifted its position in T. Rowe Price Group by 3.2% during the 3rd quarter. Grimes & Company Inc. now owns 166,293 shares of the asset manager’s stock worth $17,439,000 after acquiring an additional 5,197 shares in the last quarter. Finally, Accel Wealth Management lifted its position in T. Rowe Price Group by 5.9% during the 3rd quarter. Accel Wealth Management now owns 5,828 shares of the asset manager’s stock worth $611,000 after acquiring an additional 325 shares in the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 8,740 shares of the stock in a transaction on 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 sale, the director now directly owns 21,073 shares of the company’s stock, valued at $2,493,357.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,138 shares of the stock in a transaction 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 directly owns 14,113 shares of the company’s stock, valued at $1,511,925.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the stock in a transaction on 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 completion of the sale, the director now directly owns 21,073 shares in the company, valued at $2,493,357.36. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Trading Up 4.8 %

Shares of NASDAQ TROW opened at $114.02 on Friday. T. Rowe Price Group, Inc. has a twelve month low of $87.43 and a twelve month high of $132.76. The company has a market capitalization of $25.50 billion, a price-to-earnings ratio of 14.69, a price-to-earnings-growth ratio of 2.04 and a beta of 1.40. The business has a 50 day simple moving average of $115.10 and a 200-day simple moving average of $107.07.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the previous year, the business earned $1.69 EPS. The business’s quarterly revenue was up 13.8% on a year-over-year basis. As a group, equities analysts predict that T. Rowe Price Group, Inc. will post 8.36 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.35%. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.22. The ex-dividend date of this dividend was Thursday, March 14th. T. Rowe Price Group’s payout ratio is 63.92%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on TROW shares. Keefe, Bruyette & Woods raised T. Rowe Price Group from an “underperform” rating to a “market perform” rating and boosted their price target for the stock from $106.00 to $120.00 in a research report on Thursday, April 11th. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday, February 9th. JPMorgan Chase & Co. lifted their price objective 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. TD Cowen upgraded T. Rowe Price Group from a “sell” rating to a “hold” rating and lifted their price objective for the stock from $92.00 to $114.00 in a report on Monday, April 8th. Finally, Wells Fargo & Company lifted their price objective on T. Rowe Price Group from $105.00 to $108.00 and gave the stock an “underweight” rating in a report on Friday, February 9th. Four investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $112.67.

T. Rowe Price Group Company Profile

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.