T. Rowe Price Group Inc (TROW) Holdings Cut by New York State Teachers Retirement System

New York State Teachers Retirement System lessened its holdings in T. Rowe Price Group Inc (NASDAQ:TROW) by 6.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 324,551 shares of the asset manager’s stock after selling 23,973 shares during the quarter. New York State Teachers Retirement System’s holdings in T. Rowe Price Group were worth $32,494,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Northwest Investment Counselors LLC grew its holdings in T. Rowe Price Group by 0.7% during the first quarter. Northwest Investment Counselors LLC now owns 13,426 shares of the asset manager’s stock valued at $1,344,000 after purchasing an additional 96 shares during the period. Curbstone Financial Management Corp grew its stake in shares of T. Rowe Price Group by 1.3% during the first quarter. Curbstone Financial Management Corp now owns 7,590 shares of the asset manager’s stock worth $760,000 after purchasing an additional 100 shares in the last quarter. Unison Advisors LLC boosted its stake in T. Rowe Price Group by 0.8% in the first quarter. Unison Advisors LLC now owns 13,484 shares of the asset manager’s stock valued at $1,350,000 after acquiring an additional 101 shares in the last quarter. Reilly Financial Advisors LLC boosted its stake in T. Rowe Price Group by 66.3% in the fourth quarter. Reilly Financial Advisors LLC now owns 296 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 118 shares in the last quarter. Finally, Tufton Capital Management boosted its stake in T. Rowe Price Group by 1.6% in the first quarter. Tufton Capital Management now owns 7,496 shares of the asset manager’s stock valued at $750,000 after acquiring an additional 118 shares in the last quarter. Hedge funds and other institutional investors own 71.32% of the company’s stock.

Several equities analysts have issued reports on the stock. Zacks Investment Research upgraded shares of T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $116.00 price objective for the company in a research note on Wednesday, April 3rd. Bank of America set a $112.00 price target on shares of T. Rowe Price Group and gave the stock a “buy” rating in a report on Tuesday, April 9th. Gabelli reissued a “buy” rating on shares of T. Rowe Price Group in a report on Thursday, April 25th. Jefferies Financial Group increased their price target on shares of T. Rowe Price Group from $103.00 to $119.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Finally, Citigroup increased their price target on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the stock a “neutral” rating in a report on Monday, April 15th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. T. Rowe Price Group presently has a consensus rating of “Hold” and a consensus price target of $106.75.

In other news, VP Scott B. David sold 45,118 shares of the stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $107.88, for a total value of $4,867,329.84. Following the sale, the vice president now directly owns 48,454 shares in the company, valued at $5,227,217.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Christopher D. Alderson sold 104,465 shares of the stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $96.94, for a total transaction of $10,126,837.10. Following the completion of the sale, the vice president now owns 401,164 shares in the company, valued at $38,888,838.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 172,200 shares of company stock valued at $17,416,177. 3.10% of the stock is currently owned by corporate insiders.

Shares of T. Rowe Price Group stock opened at $104.38 on Friday. T. Rowe Price Group Inc has a 12-month low of $84.59 and a 12-month high of $127.43. The stock has a market capitalization of $24.90 billion, a price-to-earnings ratio of 14.49, a P/E/G ratio of 1.55 and a beta of 1.06.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Wednesday, April 24th. The asset manager reported $1.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.61 by $0.26. T. Rowe Price Group had a net margin of 35.05% and a return on equity of 28.93%. The company had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same period last year, the company posted $1.74 earnings per share. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. As a group, equities research analysts anticipate that T. Rowe Price Group Inc will post 7.52 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.76 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $3.04 dividend on an annualized basis and a yield of 2.91%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 42.52%.

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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.

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Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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