T. Rowe Price Group, Inc. (NASDAQ:TROW) Stake Boosted by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp lifted its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 51,560 shares of the asset manager’s stock after buying an additional 266 shares during the quarter. Texas Permanent School Fund Corp’s holdings in T. Rowe Price Group were worth $6,286,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Confluence Investment Management LLC bought a new position in shares of T. Rowe Price Group during the first quarter valued at approximately $130,386,000. International Assets Investment Management LLC increased its position in T. Rowe Price Group by 8,968.6% in the fourth quarter. International Assets Investment Management LLC now owns 902,146 shares of the asset manager’s stock worth $97,152,000 after buying an additional 892,198 shares during the period. UBS Group AG lifted its stake in T. Rowe Price Group by 473.3% in the fourth quarter. UBS Group AG now owns 975,226 shares of the asset manager’s stock valued at $105,022,000 after buying an additional 805,106 shares during the last quarter. Norges Bank acquired a new position in shares of T. Rowe Price Group during the fourth quarter valued at $80,831,000. Finally, Hsbc Holdings PLC grew its position in shares of T. Rowe Price Group by 66.8% during the fourth quarter. Hsbc Holdings PLC now owns 765,080 shares of the asset manager’s stock worth $82,434,000 after acquiring an additional 306,524 shares during the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,043 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $113.08, for a total value of $344,102.44. Following the completion of the transaction, the director now owns 34,635 shares in the company, valued at approximately $3,916,525.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,401 shares of T. Rowe Price Group stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $115.85, for a total transaction of $162,305.85. Following the transaction, the insider now directly owns 14,198 shares in the company, valued at approximately $1,644,838.30. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert F. Maclellan sold 3,043 shares of the stock in a transaction on Monday, April 29th. The shares were sold at an average price of $113.08, for a total value of $344,102.44. Following the completion of the sale, the director now owns 34,635 shares of the company’s stock, valued at approximately $3,916,525.80. The disclosure for this sale can be found here. Insiders sold a total of 6,444 shares of company stock valued at $740,408 in the last three months. 2.00% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Trading Up 0.9 %

NASDAQ:TROW traded up $1.09 during mid-day trading on Friday, reaching $118.26. 52,646 shares of the stock were exchanged, compared to its average volume of 1,304,067. The business has a fifty day moving average price of $115.72 and a 200 day moving average price of $113.35. T. Rowe Price Group, Inc. has a 1-year low of $87.43 and a 1-year high of $132.76. The firm has a market capitalization of $26.41 billion, a PE ratio of 13.92, a PEG ratio of 1.96 and a beta of 1.42.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.34. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the company posted $1.69 EPS. The business’s revenue was up 13.8% compared to the same quarter last year. On average, sell-side analysts forecast that T. Rowe Price Group, Inc. will post 8.93 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Friday, June 14th were given a dividend of $1.24 per share. The ex-dividend date was Friday, June 14th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.19%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 58.91%.

Analysts Set New Price Targets

TROW has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their target price on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a research note on Tuesday, April 16th. UBS Group increased their price objective on T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a report on Friday, April 12th. Evercore ISI cut their target price on T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 30th. StockNews.com raised T. Rowe Price Group from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of T. Rowe Price Group from $120.00 to $121.00 and gave the company a “market perform” rating in a research note on Friday. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $113.10.

T. Rowe Price Group 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.