California Public Employees Retirement System Has $38 Million Stock Position in T. Rowe Price Group, Inc. $TROW

California Public Employees Retirement System grew its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 7.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 393,777 shares of the asset manager’s stock after acquiring an additional 26,321 shares during the period. California Public Employees Retirement System owned 0.18% of T. Rowe Price Group worth $37,999,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in TROW. TD Waterhouse Canada Inc. increased its stake in shares of T. Rowe Price Group by 66.7% during the second quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock worth $25,000 after purchasing an additional 100 shares during the period. Zions Bancorporation National Association UT acquired a new position in T. Rowe Price Group in the 1st quarter valued at $27,000. Vermillion & White Wealth Management Group LLC increased its position in T. Rowe Price Group by 120.0% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock worth $31,000 after buying an additional 174 shares during the period. Atlantic Union Bankshares Corp acquired a new stake in shares of T. Rowe Price Group during the second quarter worth $35,000. Finally, Curio Wealth LLC boosted its position in shares of T. Rowe Price Group by 20,700.0% in the second quarter. Curio Wealth LLC now owns 416 shares of the asset manager’s stock valued at $40,000 after acquiring an additional 414 shares during the period. Institutional investors own 73.39% of the company’s stock.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the business’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $105.01, for a total transaction of $324,480.90. Following the completion of the transaction, the director owned 47,335 shares of the company’s stock, valued at approximately $4,970,648.35. The trade was a 6.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $103.56 on Thursday. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $123.55. The stock has a market capitalization of $22.60 billion, a price-to-earnings ratio of 11.28, a price-to-earnings-growth ratio of 3.48 and a beta of 1.53. The company’s 50 day simple moving average is $102.98 and its 200 day simple moving average is $102.30.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.26. T. Rowe Price Group had a return on equity of 19.95% and a net margin of 28.89%.The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the prior year, the company earned $2.57 earnings per share. The company’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be paid a $1.27 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $5.08 annualized dividend and a yield of 4.9%. T. Rowe Price Group’s dividend payout ratio (DPR) is 55.34%.

Analysts Set New Price Targets

TROW has been the topic of several research reports. TD Cowen upped their price target on shares of T. Rowe Price Group from $108.00 to $112.00 and gave the company a “hold” rating in a research note on Monday, November 3rd. Keefe, Bruyette & Woods boosted their price objective on shares of T. Rowe Price Group from $115.00 to $117.00 and gave the company a “market perform” rating in a report on Monday, November 3rd. Jefferies Financial Group raised their target price on shares of T. Rowe Price Group from $104.00 to $106.00 and gave the stock a “hold” rating in a report on Tuesday, October 7th. Evercore ISI cut their price target on T. Rowe Price Group from $118.00 to $115.00 and set an “in-line” rating for the company in a research note on Friday, December 5th. Finally, Barclays set a $101.00 price target on T. Rowe Price Group in a research report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $108.77.

T. Rowe Price Group 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.