T. Rowe Price Group, Inc. $TROW Shares Purchased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund raised its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 10.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 76,340 shares of the asset manager’s stock after acquiring an additional 7,500 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in T. Rowe Price Group were worth $7,367,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Zions Bancorporation National Association UT purchased a new position in shares of T. Rowe Price Group in the 1st quarter valued at about $27,000. Atlantic Union Bankshares Corp purchased a new stake in T. Rowe Price Group during the second quarter worth about $35,000. Curio Wealth LLC grew its position in T. Rowe Price Group by 20,700.0% during the second quarter. Curio Wealth LLC now owns 416 shares of the asset manager’s stock worth $40,000 after buying an additional 414 shares during the period. Cromwell Holdings LLC increased its holdings in T. Rowe Price Group by 3,483.3% in the second quarter. Cromwell Holdings LLC now owns 430 shares of the asset manager’s stock valued at $41,000 after buying an additional 418 shares in the last quarter. Finally, Bogart Wealth LLC increased its holdings in T. Rowe Price Group by 1,787.5% in the second quarter. Bogart Wealth LLC now owns 453 shares of the asset manager’s stock valued at $44,000 after buying an additional 429 shares in the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TROW. Jefferies Financial Group boosted their price target on T. Rowe Price Group from $104.00 to $106.00 and gave the stock a “hold” rating in a research note on Tuesday, October 7th. BMO Capital Markets assumed coverage on T. Rowe Price Group in a report on Friday, October 3rd. They set a “market perform” rating and a $108.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on T. Rowe Price Group from $109.00 to $111.00 and gave the stock an “underweight” rating in a research report on Monday, November 3rd. Deutsche Bank Aktiengesellschaft dropped their price target on T. Rowe Price Group from $114.00 to $112.00 and set a “hold” rating for the company in a research report on Monday, November 3rd. Finally, Barclays set a $101.00 price target on T. Rowe Price Group in a research note on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, T. Rowe Price Group currently has a consensus rating of “Reduce” and an average price target of $109.31.

Insider Activity at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,090 shares of the firm’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $105.01, for a total value of $324,480.90. Following the transaction, the director directly owned 47,335 shares in the company, valued at $4,970,648.35. This trade represents a 6.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.00% of the stock is currently owned by insiders.

T. Rowe Price Group Stock Up 0.7%

TROW opened at $103.67 on Wednesday. The firm has a market cap of $22.62 billion, a P/E ratio of 11.58, a PEG ratio of 5.61 and a beta of 1.51. The business’s fifty day simple moving average is $104.32 and its 200 day simple moving average is $101.09. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, October 31st. The asset manager reported $2.81 EPS for the quarter, topping the consensus estimate of $2.55 by $0.26. The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.88 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. T. Rowe Price Group’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.57 EPS. As a group, equities analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be issued a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date is Monday, December 15th. T. Rowe Price Group’s dividend payout ratio is presently 55.34%.

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.