New York State Common Retirement Fund Lowers Position in T. Rowe Price Group, Inc. $TROW

New York State Common Retirement Fund cut its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 6.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 246,299 shares of the asset manager’s stock after selling 17,692 shares during the period. New York State Common Retirement Fund’s holdings in T. Rowe Price Group were worth $25,280,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. TD Waterhouse Canada Inc. lifted its position 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 valued at $25,000 after purchasing an additional 100 shares in the last quarter. Root Financial Partners LLC bought a new position in shares of T. Rowe Price Group during the 3rd quarter worth approximately $30,000. Salomon & Ludwin LLC boosted its stake in shares of T. Rowe Price Group by 84.3% in the 3rd quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager’s stock worth $33,000 after buying an additional 145 shares during the last quarter. Vermillion & White Wealth Management Group LLC grew its holdings in shares of 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. Finally, Atlantic Union Bankshares Corp purchased a new stake in shares of T. Rowe Price Group during the second quarter valued at approximately $35,000. Institutional investors own 73.39% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on TROW. JPMorgan Chase & Co. cut their price objective on T. Rowe Price Group from $111.00 to $108.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 20th. BMO Capital Markets lifted their target price on T. Rowe Price Group from $108.00 to $110.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 13th. The Goldman Sachs Group cut their price target 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. Evercore ISI raised their price objective on shares of T. Rowe Price Group from $115.00 to $116.00 in a report on Monday, January 12th. Finally, TD Cowen lowered their price objective on shares of T. Rowe Price Group from $112.00 to $109.00 and set a “hold” rating on the stock in a research report on Wednesday, January 14th. Eleven analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $107.31.

Insider Activity at T. Rowe Price Group

In related news, VP Arif Husain sold 4,260 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total value of $434,349.60. Following the completion of the transaction, the vice president directly owned 47,102 shares of the company’s stock, valued at approximately $4,802,519.92. This trade represents a 8.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of TROW opened at $105.68 on Friday. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $118.32. The business has a 50-day moving average of $104.67 and a 200 day moving average of $104.68. The firm has a market cap of $23.06 billion, a P/E ratio of 11.51, a price-to-earnings-growth ratio of 2.54 and a beta of 1.52.

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

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.