T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System cut its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 375,992 shares of the asset manager’s stock after selling 23,469 shares during the period. California Public Employees Retirement System owned approximately 0.17% of T. Rowe Price Group worth $42,521,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of TROW. Addison Advisors LLC raised its position in T. Rowe Price Group by 67.4% during the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock worth $26,000 after acquiring an additional 93 shares during the period. Curio Wealth LLC purchased a new stake in shares of T. Rowe Price Group during the fourth quarter worth about $27,000. Y.D. More Investments Ltd raised its position in shares of T. Rowe Price Group by 124.0% during the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock worth $32,000 after purchasing an additional 155 shares during the last quarter. Stonebridge Financial Group LLC purchased a new position in T. Rowe Price Group in the 4th quarter valued at about $32,000. Finally, Advantage Trust Co boosted its holdings in T. Rowe Price Group by 48.8% in the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock worth $34,000 after buying an additional 100 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, VP Arif Husain sold 4,112 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total transaction of $449,318.24. Following the completion of the transaction, the vice president now directly owns 36,800 shares in the company, valued at $4,021,136. This trade represents a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert F. Maclellan sold 3,955 shares of the business’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $91.56, for a total value of $362,119.80. Following the completion of the sale, the director now owns 42,979 shares in the company, valued at $3,935,157.24. This represents a 8.43 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TROW. Barclays decreased their target price on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a research report on Thursday, February 6th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $113.00 target price (up previously from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Morgan Stanley reduced their target price on shares of T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a research report on Monday, February 24th. Wells Fargo & Company lowered their price target on shares of T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Finally, StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat.com, T. Rowe Price Group presently has a consensus rating of “Hold” and an average target price of $111.82.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock opened at $93.90 on Thursday. The stock has a 50 day moving average of $103.36 and a 200 day moving average of $110.62. The firm has a market capitalization of $20.87 billion, a price-to-earnings ratio of 10.25, a PEG ratio of 2.86 and a beta of 1.46. T. Rowe Price Group, Inc. has a fifty-two week low of $89.70 and a fifty-two week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same period in the previous year, the firm earned $1.72 EPS. Analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a $1.27 dividend. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 annualized dividend and a dividend yield of 5.41%. The ex-dividend date of this dividend was Friday, March 14th. T. Rowe Price Group’s dividend payout ratio is currently 55.46%.

About T. Rowe Price Group

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.