Kentucky Retirement Systems Cuts Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Kentucky Retirement Systems decreased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROWFree Report) by 2.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,974 shares of the asset manager’s stock after selling 323 shares during the quarter. Kentucky Retirement Systems’ holdings in T. Rowe Price Group were worth $1,376,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Addison Advisors LLC grew its holdings in shares of T. Rowe Price Group by 67.4% during the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock worth $26,000 after purchasing an additional 93 shares in the last quarter. Curio Wealth LLC bought a new stake in T. Rowe Price Group in the 4th quarter worth approximately $27,000. Ameriflex Group Inc. bought a new stake in T. Rowe Price Group in the 4th quarter worth approximately $42,000. Summit Securities Group LLC bought a new stake in T. Rowe Price Group in the 4th quarter worth approximately $57,000. Finally, Park Square Financial Group LLC bought a new stake in T. Rowe Price Group in the 4th quarter worth approximately $61,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Wall Street Analyst Weigh In

TROW has been the subject of a number of recent research reports. Morgan Stanley boosted their target price on T. Rowe Price Group from $94.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 6th. Wells Fargo & Company dropped their target price on T. Rowe Price Group from $116.00 to $98.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 8th. JPMorgan Chase & Co. dropped their target price on T. Rowe Price Group from $110.00 to $90.00 and set an “underweight” rating for the company in a research report on Wednesday, April 16th. Barclays boosted their target price on T. Rowe Price Group from $85.00 to $90.00 and gave the stock an “underweight” rating in a research report on Monday, May 5th. Finally, Bank of America dropped their target price on T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating for the company in a research report on Thursday, April 3rd. Four research analysts have rated the stock with a sell rating and nine have given a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $94.09.

Read Our Latest Research Report on T. Rowe Price Group

Insider Activity

In other news, insider Jessica M. Hiebler sold 968 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $96.98, for a total transaction of $93,876.64. Following the transaction, the insider now directly owns 13,611 shares of the company’s stock, valued at approximately $1,319,994.78. The trade was a 6.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Dorothy C. Sawyer sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total value of $190,860.00. Following the transaction, the vice president now directly owns 44,789 shares in the company, valued at $4,274,214.27. This trade represents a 4.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,923 shares of company stock valued at $646,856. Company insiders own 1.60% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of TROW stock opened at $95.10 on Wednesday. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81. The stock has a 50 day moving average price of $92.44 and a two-hundred day moving average price of $100.94. The company has a market capitalization of $20.95 billion, a P/E ratio of 10.78, a PEG ratio of 3.05 and a beta of 1.49.

T. Rowe Price Group (NASDAQ:TROWGet Free Report) last announced its quarterly earnings data on Friday, May 2nd. The asset manager reported $2.23 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.10. T. Rowe Price Group had a return on equity of 20.17% and a net margin of 28.38%. The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the previous year, the company posted $2.38 earnings per share. The business’s revenue was up .8% on a year-over-year basis. As a group, equities analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be paid a dividend of $1.27 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $5.08 annualized dividend and a dividend yield of 5.34%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 57.60%.

T. Rowe Price Group Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding TROW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for T. Rowe Price Group, Inc. (NASDAQ:TROWFree Report).

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

Receive News & Ratings for T. Rowe Price Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for T. Rowe Price Group and related companies with MarketBeat.com's FREE daily email newsletter.