T. Rowe Price Group, Inc. $TROW Stock Position Increased by California Public Employees Retirement System

California Public Employees Retirement System grew its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 420,848 shares of the asset manager’s stock after acquiring an additional 19,057 shares during the quarter. California Public Employees Retirement System owned about 0.20% of T. Rowe Price Group worth $37,935,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the stock. Oregon Public Employees Retirement Fund boosted its stake in T. Rowe Price Group by 0.4% during the first quarter. Oregon Public Employees Retirement Fund now owns 25,062 shares of the asset manager’s stock valued at $2,259,000 after buying an additional 100 shares in the last quarter. MTM Investment Management LLC raised its position in shares of T. Rowe Price Group by 3.5% during the fourth quarter. MTM Investment Management LLC now owns 3,167 shares of the asset manager’s stock worth $324,000 after purchasing an additional 107 shares during the period. GenTrust LLC raised its position in shares of T. Rowe Price Group by 5.5% during the fourth quarter. GenTrust LLC now owns 2,114 shares of the asset manager’s stock worth $216,000 after purchasing an additional 110 shares during the period. Fiduciary Trust Co lifted its holdings in shares of T. Rowe Price Group by 4.5% during the third quarter. Fiduciary Trust Co now owns 2,579 shares of the asset manager’s stock valued at $265,000 after purchasing an additional 111 shares during the last quarter. Finally, 1834 Investment Advisors Co. lifted its holdings in shares of T. Rowe Price Group by 0.3% during the fourth quarter. 1834 Investment Advisors Co. now owns 37,490 shares of the asset manager’s stock valued at $3,838,000 after purchasing an additional 115 shares during the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Price Performance

T. Rowe Price Group stock opened at $116.49 on Tuesday. The company has a market capitalization of $24.96 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 4.23 and a beta of 1.47. T. Rowe Price Group, Inc. has a one year low of $85.22 and a one year high of $121.17. The company’s fifty day moving average price is $109.08 and its two-hundred day moving average price is $101.39.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.15. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.85 billion. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.23 earnings per share. As a group, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 10.07 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.5%. The ex-dividend date was Monday, June 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is 55.73%.

Insider Activity at T. Rowe Price Group

In other news, VP Stephon A. Jackson sold 3,000 shares of T. Rowe Price Group stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total value of $307,680.00. Following the transaction, the vice president owned 83,883 shares of the company’s stock, valued at $8,603,040.48. This trade represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on TROW shares. The Goldman Sachs Group lifted their price target on T. Rowe Price Group from $90.00 to $92.00 and gave the stock a “sell” rating in a research note on Tuesday, June 30th. Evercore set a $121.00 price objective on shares of T. Rowe Price Group in a research report on Friday, July 10th. TD Cowen lowered their price target on T. Rowe Price Group from $108.00 to $107.00 and set a “hold” rating on the stock in a report on Monday. JPMorgan Chase & Co. reduced their price objective on T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating for the company in a research note on Friday, April 24th. Finally, BMO Capital Markets raised their price objective on T. Rowe Price Group from $98.00 to $110.00 and gave the stock a “market perform” rating in a research report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $104.50.

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.