T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems trimmed its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.9% in the first quarter, Holdings Channel reports. The firm owned 17,004 shares of the asset manager’s stock after selling 876 shares during the period. Kentucky Retirement Systems’ holdings in T. Rowe Price Group were worth $2,073,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. L. Roy Papp & Associates LLP grew its position in T. Rowe Price Group by 5.8% in the 4th quarter. L. Roy Papp & Associates LLP now owns 158,875 shares of the asset manager’s stock valued at $17,109,000 after acquiring an additional 8,773 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its position in T. Rowe Price Group by 15.8% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 344,889 shares of the asset manager’s stock valued at $37,141,000 after acquiring an additional 47,043 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in T. Rowe Price Group in the 1st quarter valued at about $1,008,000. Nebula Research & Development LLC acquired a new position in T. Rowe Price Group in the 4th quarter valued at about $807,000. Finally, Fisher Asset Management LLC grew its position in T. Rowe Price Group by 6.6% in the 4th quarter. Fisher Asset Management LLC now owns 1,751,405 shares of the asset manager’s stock valued at $188,609,000 after acquiring an additional 109,053 shares in the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 1,401 shares of the company’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total value of $162,305.85. Following the sale, the insider now directly owns 14,198 shares in the company, valued at $1,644,838.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total transaction of $234,000.00. Following the transaction, the vice president now directly owns 34,710 shares in the company, valued at $4,061,070. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jessica M. Hiebler sold 1,401 shares of the stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $115.85, for a total value of $162,305.85. Following the transaction, the insider now owns 14,198 shares in the company, valued at $1,644,838.30. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on T. Rowe Price Group from $102.00 to $107.00 and gave the company an “underweight” rating in a research report on Tuesday, July 23rd. Morgan Stanley lifted their price objective on T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 17th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $120.00 price objective (down previously from $121.00) on shares of T. Rowe Price Group in a research note on Monday. TD Cowen lifted their price objective on T. Rowe Price Group from $121.00 to $123.00 and gave the company a “hold” rating in a research note on Monday, July 8th. Finally, Citigroup lifted their price objective on T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $113.40.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW traded up $0.46 during trading on Monday, reaching $112.54. The company had a trading volume of 484,839 shares, compared to its average volume of 1,291,507. The firm has a market capitalization of $25.13 billion, a price-to-earnings ratio of 13.34, a price-to-earnings-growth ratio of 1.63 and a beta of 1.42. The stock’s fifty day moving average price is $116.47 and its 200 day moving average price is $114.14. T. Rowe Price Group, Inc. has a fifty-two week low of $87.43 and a fifty-two week high of $128.14.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.79 billion. T. Rowe Price Group had a net margin of 28.66% and a return on equity of 20.01%. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.02 EPS. On average, equities analysts anticipate that T. Rowe Price Group, Inc. will post 8.98 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Friday, June 14th were issued a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.41%. The ex-dividend date of this dividend was Friday, June 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is 58.91%.

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.