Public Employees Retirement System of Ohio Has $10.64 Million Holdings in T. Rowe Price Group, Inc. $TROW

Public Employees Retirement System of Ohio cut its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 6.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 118,090 shares of the asset manager’s stock after selling 7,885 shares during the period. Public Employees Retirement System of Ohio’s holdings in T. Rowe Price Group were worth $10,645,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Compound Planning Inc. lifted its holdings in shares of T. Rowe Price Group by 30.0% in the 1st quarter. Compound Planning Inc. now owns 3,248 shares of the asset manager’s stock worth $293,000 after purchasing an additional 749 shares in the last quarter. Caxton Associates LLP acquired a new stake in T. Rowe Price Group in the 1st quarter valued at $626,000. Inceptionr LLC bought a new stake in T. Rowe Price Group during the 1st quarter valued at $1,647,000. Sei Investments Co. increased its stake in T. Rowe Price Group by 116.5% during the 1st quarter. Sei Investments Co. now owns 187,440 shares of the asset manager’s stock valued at $16,892,000 after purchasing an additional 100,851 shares in the last quarter. Finally, Keynote Financial Services LLC raised its holdings in T. Rowe Price Group by 11.2% during the first quarter. Keynote Financial Services LLC now owns 3,575 shares of the asset manager’s stock worth $322,000 after buying an additional 361 shares during the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TROW. The Goldman Sachs Group raised their price target on shares of T. Rowe Price Group from $90.00 to $92.00 and gave the company a “sell” rating in a research report on Tuesday, June 30th. Keefe, Bruyette & Woods boosted their price objective on T. Rowe Price Group from $107.00 to $120.00 and gave the stock a “market perform” rating in a report on Friday, July 10th. Barclays increased their price objective on T. Rowe Price Group from $89.00 to $108.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 14th. Jefferies Financial Group dropped their target price on T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating on the stock in a report on Wednesday, April 8th. Finally, Morgan Stanley lifted their target price on T. Rowe Price Group from $105.00 to $109.00 and gave the company an “equal weight” rating in a research report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $104.50.

T. Rowe Price Group Price Performance

NASDAQ TROW opened at $116.50 on Monday. The company has a market cap of $24.96 billion, a PE ratio of 12.49, a price-to-earnings-growth ratio of 4.18 and a beta of 1.47. T. Rowe Price Group, Inc. has a 52 week low of $85.22 and a 52 week high of $121.17. The firm’s 50-day simple moving average is $110.18 and its two-hundred day simple moving average is $101.74.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.37 by $0.15. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same period in the previous year, the business earned $2.23 EPS. T. Rowe Price Group’s revenue was up 5.3% compared to the same quarter last year. As a group, equities research analysts anticipate that T. Rowe Price Group, Inc. will post 10.12 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were issued 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 4.5%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 55.73%.

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.