VIRGINIA RETIREMENT SYSTEMS ET Al Boosts Position in T. Rowe Price Group, Inc. $TROW

VIRGINIA RETIREMENT SYSTEMS ET Al raised its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 35.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 528,500 shares of the asset manager’s stock after purchasing an additional 137,600 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.24% of T. Rowe Price Group worth $54,245,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TROW. Candriam S.C.A. grew its holdings in shares of T. Rowe Price Group by 20.4% during the second quarter. Candriam S.C.A. now owns 30,931 shares of the asset manager’s stock worth $2,985,000 after purchasing an additional 5,236 shares during the last quarter. Confluence Investment Management LLC boosted its position in shares of T. Rowe Price Group by 2.7% in the 3rd quarter. Confluence Investment Management LLC now owns 973,769 shares of the asset manager’s stock valued at $99,948,000 after purchasing an additional 25,316 shares during the period. Amundi grew its stake in T. Rowe Price Group by 16.9% during the 2nd quarter. Amundi now owns 1,607,616 shares of the asset manager’s stock worth $153,714,000 after buying an additional 232,361 shares during the last quarter. Kestra Investment Management LLC increased its position in T. Rowe Price Group by 268.4% during the first quarter. Kestra Investment Management LLC now owns 35,402 shares of the asset manager’s stock worth $3,252,000 after buying an additional 25,793 shares during the period. Finally, OLD National Bancorp IN lifted its stake in T. Rowe Price Group by 16.2% in the third quarter. OLD National Bancorp IN now owns 75,040 shares of the asset manager’s stock valued at $7,702,000 after buying an additional 10,463 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Evercore ISI lowered their target price on shares of T. Rowe Price Group from $118.00 to $115.00 and set an “in-line” rating on the stock in a research report on Friday, December 5th. JPMorgan Chase & Co. raised their price objective on shares of 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. Keefe, Bruyette & Woods dropped their price objective on shares of T. Rowe Price Group from $117.00 to $115.00 and set a “market perform” rating on the stock in a research note on Tuesday, December 16th. Morgan Stanley increased their target price on shares of T. Rowe Price Group from $126.00 to $128.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 17th. Finally, Jefferies Financial Group raised their price target on T. Rowe Price Group from $104.00 to $106.00 and gave the stock a “hold” rating in a report on Tuesday, October 7th. Twelve equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $108.31.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Arif Husain sold 4,260 shares of the company’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $101.96, for a total transaction of $434,349.60. Following the transaction, the vice president owned 47,102 shares of the company’s stock, valued at $4,802,519.92. This represents a 8.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.60% of the stock is currently owned by company insiders.

T. Rowe Price Group Stock Down 0.9%

Shares of NASDAQ:TROW opened at $103.64 on Wednesday. The company has a market cap of $22.62 billion, a price-to-earnings ratio of 11.29, a PEG ratio of 2.83 and a beta of 1.53. The firm’s 50-day simple moving average is $102.89 and its 200-day simple moving average is $103.36. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $118.32.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share (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 28.89% and a return on equity of 19.95%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.57 earnings per share. On average, research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th were issued a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend was Monday, December 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 55.34%.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.