T. Rowe Price Group, Inc. $TROW Shares Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas increased its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 117.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,245 shares of the asset manager’s stock after acquiring an additional 39,490 shares during the period. Teacher Retirement System of Texas’ holdings in T. Rowe Price Group were worth $7,518,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. TD Waterhouse Canada Inc. raised its position in T. Rowe Price Group by 66.7% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 100 shares in the last quarter. Root Financial Partners LLC purchased a new stake in shares of T. Rowe Price Group during the third quarter worth approximately $30,000. Vermillion & White Wealth Management Group LLC raised its holdings in T. Rowe Price Group by 120.0% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock valued at $31,000 after acquiring an additional 174 shares in the last quarter. Salomon & Ludwin LLC lifted its stake in T. Rowe Price Group by 84.3% in the third quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager’s stock worth $33,000 after acquiring an additional 145 shares during the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new position in T. Rowe Price Group during the 2nd quarter worth approximately $35,000. 73.39% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Arif Husain sold 4,260 shares of the stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total transaction of $434,349.60. Following the completion of the sale, the vice president owned 47,102 shares in the company, valued at $4,802,519.92. This represents a 8.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

TROW has been the topic of a number of analyst reports. The Goldman Sachs Group reduced their price objective on shares of T. Rowe Price Group from $97.00 to $95.00 and set a “sell” rating on the stock in a report on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft dropped their target price on T. Rowe Price Group from $113.00 to $106.00 and set a “hold” rating on the stock in a report on Wednesday, December 17th. Barclays decreased their price target on T. Rowe Price Group from $102.00 to $101.00 and set an “underweight” rating for the company in a report on Thursday, January 15th. Morgan Stanley increased their price objective on T. Rowe Price Group from $126.00 to $128.00 and gave the company an “equal weight” rating in a report on Wednesday, December 17th. Finally, Jefferies Financial Group boosted their target price on T. Rowe Price Group from $104.00 to $106.00 and gave the stock a “hold” rating in a research note on Tuesday, October 7th. Eleven research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $107.31.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock opened at $105.63 on Monday. The company has a market capitalization of $23.05 billion, a P/E ratio of 11.51, a PEG ratio of 2.56 and a beta of 1.52. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $118.32. The stock has a 50-day simple moving average of $103.93 and a 200-day simple moving average of $104.57.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, October 31st. The asset manager reported $2.81 EPS 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 company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the previous year, the company posted $2.57 earnings per share. The firm’s revenue was up 6.0% compared to the same quarter last year. As a group, analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Monday, December 15th were given a $1.27 dividend. The ex-dividend date was Monday, December 15th. This represents a $5.08 annualized dividend and a yield of 4.8%. T. Rowe Price Group’s dividend payout ratio is 55.34%.

T. Rowe Price Group Profile

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.