Kentucky Retirement Systems Sells 876 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Kentucky Retirement Systems lowered its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,004 shares of the asset manager’s stock after selling 876 shares during the period. Kentucky Retirement Systems’ holdings in T. Rowe Price Group were worth $2,073,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Fisher Asset Management LLC grew its stake in T. Rowe Price Group by 6.7% during the fourth quarter. Fisher Asset Management LLC now owns 1,752,005 shares of the asset manager’s stock valued at $188,674,000 after acquiring an additional 109,653 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in T. Rowe Price Group by 21.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,352,683 shares of the asset manager’s stock valued at $145,685,000 after acquiring an additional 236,697 shares in the last quarter. First Trust Advisors LP grew its stake in T. Rowe Price Group by 1.3% during the fourth quarter. First Trust Advisors LP now owns 1,173,858 shares of the asset manager’s stock valued at $126,413,000 after acquiring an additional 15,504 shares in the last quarter. Confluence Investment Management LLC purchased a new position in T. Rowe Price Group during the first quarter valued at approximately $130,386,000. Finally, UBS Group AG grew its stake in T. Rowe Price Group by 473.3% during the fourth quarter. UBS Group AG now owns 975,226 shares of the asset manager’s stock valued at $105,022,000 after acquiring an additional 805,106 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Morgan Stanley boosted their price objective on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 17th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $120.00 price target (down previously from $121.00) on shares of T. Rowe Price Group in a research note on Monday. Evercore ISI cut their price target on shares of T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating for the company in a research note on Tuesday, April 30th. Citigroup boosted their price target on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Finally, UBS Group boosted their price target on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a research note on Friday, April 12th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, T. Rowe Price Group has an average rating of “Hold” and an average target price of $113.40.

T. Rowe Price Group Stock Up 0.4 %

Shares of T. Rowe Price Group stock traded up $0.46 during trading on Monday, reaching $112.54. The company’s stock had a trading volume of 484,839 shares, compared to its average volume of 1,291,507. T. Rowe Price Group, Inc. has a 52-week low of $87.43 and a 52-week high of $128.14. The company has a market cap of $25.13 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 1.63 and a beta of 1.42. The firm’s 50-day moving average is $116.47 and its two-hundred day moving average is $114.14.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). T. Rowe Price Group had a net margin of 28.66% and a return on equity of 20.01%. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter in the prior year, the company earned $2.02 earnings per share. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, equities research analysts anticipate that T. Rowe Price Group, Inc. will post 8.98 EPS for the current year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Friday, June 14th were issued a dividend of $1.24 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $4.96 dividend on an annualized basis and a yield of 4.41%. T. Rowe Price Group’s dividend payout ratio is currently 58.91%.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,401 shares of the company’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $115.85, for a total value of $162,305.85. Following the completion of the transaction, the insider now directly owns 14,198 shares in the company, valued at approximately $1,644,838.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of the company’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total value of $234,000.00. Following the completion of the transaction, the vice president now directly owns 34,710 shares in the company, valued at approximately $4,061,070. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jessica M. Hiebler sold 1,401 shares of the company’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total transaction of $162,305.85. Following the completion of the transaction, the insider now owns 14,198 shares of the company’s stock, valued at $1,644,838.30. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

T. Rowe Price Group Company 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.