Teacher Retirement System of Texas Sells 7,408 Shares of T. Rowe Price Group, Inc. $TROW

Teacher Retirement System of Texas cut its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 10.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 65,837 shares of the asset manager’s stock after selling 7,408 shares during the period. Teacher Retirement System of Texas’ holdings in T. Rowe Price Group were worth $6,740,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Northern Trust Corp lifted its holdings in T. Rowe Price Group by 6.4% during the third quarter. Northern Trust Corp now owns 2,529,116 shares of the asset manager’s stock worth $259,588,000 after acquiring an additional 152,451 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of T. Rowe Price Group by 3.2% in the third quarter. Dimensional Fund Advisors LP now owns 2,090,249 shares of the asset manager’s stock valued at $214,557,000 after purchasing an additional 64,791 shares in the last quarter. Caisse de depot et placement du Quebec lifted its holdings in shares of T. Rowe Price Group by 81.0% in the third quarter. Caisse de depot et placement du Quebec now owns 1,306,922 shares of the asset manager’s stock valued at $134,142,000 after purchasing an additional 584,949 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of T. Rowe Price Group by 5.5% in the third quarter. Ameriprise Financial Inc. now owns 873,092 shares of the asset manager’s stock valued at $89,614,000 after purchasing an additional 45,845 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its holdings in shares of T. Rowe Price Group by 24.8% in the third quarter. Allianz Asset Management GmbH now owns 767,672 shares of the asset manager’s stock valued at $78,794,000 after purchasing an additional 152,318 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Stock Performance

NASDAQ:TROW opened at $99.06 on Monday. The stock’s 50-day simple moving average is $92.30 and its 200 day simple moving average is $99.29. The company has a market cap of $21.56 billion, a P/E ratio of 10.71, a P/E/G ratio of 4.29 and a beta of 1.50. T. Rowe Price Group, Inc. has a 52-week low of $85.22 and a 52-week high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Wednesday, February 4th. The asset manager reported $2.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.03). The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.92 billion. T. Rowe Price Group had a net margin of 28.53% and a return on equity of 20.29%. T. Rowe Price Group’s revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.12 EPS. As a group, equities analysts predict that T. Rowe Price Group, Inc. will post 9.69 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 30th. Investors of record on Monday, March 16th were given a $1.30 dividend. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.27. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend was Monday, March 16th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 56.22%.

Analyst Ratings Changes

TROW has been the topic of a number of research reports. Bank of America boosted their price target on T. Rowe Price Group from $85.00 to $86.00 in a report on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft cut their price target on T. Rowe Price Group from $106.00 to $100.00 and set a “hold” rating on the stock in a report on Thursday, February 5th. Zacks Research lowered T. Rowe Price Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 14th. Argus upgraded T. Rowe Price Group to a “hold” rating in a report on Thursday, February 5th. Finally, Barclays cut their price target on T. Rowe Price Group from $94.00 to $87.00 and set an “underweight” rating on the stock in a report on Friday, April 17th. Ten research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $96.62.

About T. Rowe Price Group

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.