Illinois Municipal Retirement Fund Acquires 24,567 Shares of T. Rowe Price Group, Inc. $TROW

Illinois Municipal Retirement Fund lifted its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 32.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 100,907 shares of the asset manager’s stock after purchasing an additional 24,567 shares during the period. Illinois Municipal Retirement Fund’s holdings in T. Rowe Price Group were worth $10,357,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. TD Waterhouse Canada Inc. grew 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 valued at $25,000 after buying an additional 100 shares during the last quarter. Root Financial Partners LLC purchased a new stake in T. Rowe Price Group during the 3rd quarter valued at about $30,000. Vermillion & White Wealth Management Group LLC grew 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 acquiring an additional 174 shares during the last quarter. Salomon & Ludwin LLC increased its stake in 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 purchasing an additional 145 shares during the period. Finally, Atlantic Union Bankshares Corp bought a new stake in T. Rowe Price Group in the second quarter valued at approximately $35,000. 73.39% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TROW. Bank of America raised their target price on shares of T. Rowe Price Group from $85.00 to $86.00 in a report on Wednesday, January 14th. Zacks Research lowered shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Barclays set a $94.00 price objective on shares of T. Rowe Price Group in a research note on Thursday, February 5th. Evercore ISI cut their target price on T. Rowe Price Group from $116.00 to $106.00 in a research note on Thursday, February 5th. Finally, JPMorgan Chase & Co. reduced their price target on T. Rowe Price Group from $108.00 to $106.00 and set an “underweight” rating on the stock in a report on Thursday, February 5th. Twelve investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $102.50.

Insider Buying and Selling

In other T. Rowe Price Group 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 transaction of $434,349.60. Following the completion of the transaction, the vice president 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Price Performance

TROW stock opened at $93.16 on Friday. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $118.22. The firm has a 50-day moving average of $103.66 and a 200 day moving average of $104.12. The company has a market cap of $20.33 billion, a P/E ratio of 10.07, a PEG ratio of 4.84 and a beta of 1.53.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Wednesday, February 4th. The asset manager reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.03). The firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.92 billion. T. Rowe Price Group had a return on equity of 20.36% and a net margin of 28.53%.The firm’s revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the company posted $2.12 EPS. On average, equities research analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 16th will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 5.6%. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.27. The ex-dividend date is Monday, March 16th. T. Rowe Price Group’s dividend payout ratio is currently 54.92%.

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.