California Public Employees Retirement System Sells 10,703 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

California Public Employees Retirement System lowered its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 507,511 shares of the asset manager’s stock after selling 10,703 shares during the quarter. California Public Employees Retirement System’s holdings in T. Rowe Price Group were worth $100,472,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fieldpoint Private Securities LLC increased its position in shares of T. Rowe Price Group by 319.4% during the 2nd quarter. Fieldpoint Private Securities LLC now owns 130 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 99 shares during the last quarter. Aspire Private Capital LLC increased its position in shares of T. Rowe Price Group by 812.5% during the 1st quarter. Aspire Private Capital LLC now owns 146 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 130 shares during the last quarter. Arkadios Wealth Advisors bought a new position in T. Rowe Price Group in the 2nd quarter valued at $29,000. Red Door Wealth Management LLC bought a new position in T. Rowe Price Group in the 2nd quarter valued at $38,000. Finally, Sound Income Strategies LLC grew its position in T. Rowe Price Group by 984.2% in the 2nd quarter. Sound Income Strategies LLC now owns 206 shares of the asset manager’s stock valued at $41,000 after acquiring an additional 187 shares during the last quarter. 71.04% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages have commented on TROW. Evercore ISI reaffirmed a “buy” rating and issued a $211.00 price objective on shares of T. Rowe Price Group in a research report on Friday, October 8th. Jefferies Financial Group began coverage on T. Rowe Price Group in a research report on Friday, September 10th. They issued a “buy” rating and a $245.00 price objective on the stock. Morgan Stanley cut their price objective on T. Rowe Price Group from $211.00 to $204.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 6th. Citigroup upped their price objective on T. Rowe Price Group from $137.00 to $145.00 and gave the company a “sell” rating in a research report on Monday, July 12th. Finally, UBS Group upped their price objective on T. Rowe Price Group from $183.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, July 8th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, T. Rowe Price Group has an average rating of “Hold” and an average price target of $183.43.

Shares of NASDAQ TROW opened at $191.34 on Thursday. T. Rowe Price Group, Inc. has a twelve month low of $124.94 and a twelve month high of $224.55. The stock has a fifty day simple moving average of $210.58 and a 200-day simple moving average of $197.96. The stock has a market capitalization of $43.42 billion, a PE ratio of 15.08, a PEG ratio of 1.86 and a beta of 1.18.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Thursday, July 29th. The asset manager reported $3.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.20 by $0.11. T. Rowe Price Group had a return on equity of 35.82% and a net margin of 41.93%. The firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.91 billion. As a group, analysts expect that T. Rowe Price Group, Inc. will post 12.92 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 29th. Investors of record on Wednesday, September 15th were paid a dividend of $1.08 per share. The ex-dividend date was Tuesday, September 14th. This represents a $4.32 annualized dividend and a yield of 2.26%. T. Rowe Price Group’s payout ratio is 45.09%.

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,150 shares of T. Rowe Price Group stock in a transaction dated Tuesday, August 3rd. The stock was sold at an average price of $207.70, for a total transaction of $238,855.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Sebastien Page sold 7,667 shares of T. Rowe Price Group stock in a transaction dated Thursday, September 2nd. The stock was sold at an average price of $220.95, for a total value of $1,694,023.65. Following the sale, the vice president now directly owns 35,235 shares of the company’s stock, valued at $7,785,173.25. The disclosure for this sale can be found here. Insiders have sold a total of 16,817 shares of company stock valued at $3,622,239 over the last three months. 1.00% of the stock is currently owned by insiders.

T. Rowe Price Group Profile

T. Rowe Price Group, Inc is a financial services holding company, which engages in the provision of investment management services through its subsidiaries. It provides an array of company sponsored U.S. mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries, and retirement plan sponsors.

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Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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