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

Louisiana State Employees Retirement System cut its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,600 shares of the asset manager’s stock after selling 400 shares during the period. Louisiana State Employees Retirement System’s holdings in T. Rowe Price Group were worth $1,453,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TROW. Confluence Investment Management LLC acquired a new stake in T. Rowe Price Group during the first quarter valued at approximately $130,386,000. UBS Group AG increased its stake in shares of T. Rowe Price Group by 473.3% during the 4th quarter. UBS Group AG now owns 975,226 shares of the asset manager’s stock worth $105,022,000 after purchasing an additional 805,106 shares during the last quarter. Norges Bank bought a new stake in shares of T. Rowe Price Group during the 4th quarter worth $80,831,000. Hsbc Holdings PLC boosted its holdings in shares of T. Rowe Price Group by 66.8% during the 4th quarter. Hsbc Holdings PLC now owns 765,080 shares of the asset manager’s stock worth $82,434,000 after buying an additional 306,524 shares during the period. Finally, Los Angeles Capital Management LLC boosted its holdings in shares of T. Rowe Price Group by 492.3% during the 1st quarter. Los Angeles Capital Management LLC now owns 319,887 shares of the asset manager’s stock worth $39,001,000 after buying an additional 265,881 shares during the period. 73.39% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Stock Up 0.4 %

Shares of TROW opened at $109.62 on Monday. The company has a 50 day moving average of $112.99 and a 200-day moving average of $113.92. The stock has a market capitalization of $24.40 billion, a P/E ratio of 13.02, a P/E/G ratio of 1.74 and a beta of 1.42. T. Rowe Price Group, Inc. has a twelve month low of $87.43 and a twelve month high of $122.27.

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 19.90%. T. Rowe Price Group’s revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.02 EPS. On average, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a $1.24 dividend. The ex-dividend date is Friday, September 13th. This represents a $4.96 annualized dividend and a yield of 4.52%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 58.91%.

Insider Activity at T. Rowe Price Group

In related news, VP Dorothy C. Sawyer sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total value of $234,000.00. Following the completion of the sale, the vice president now directly owns 34,710 shares in the company, valued at approximately $4,061,070. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other 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 value of $162,305.85. Following the completion of the sale, the insider now directly owns 14,198 shares in the company, valued at $1,644,838.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total transaction of $234,000.00. Following the completion of the sale, the vice president now owns 34,710 shares of the company’s stock, valued at $4,061,070. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $120.00 price objective (down from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft increased their price target on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Evercore ISI reduced their price target on shares of T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating for the company in a report on Tuesday, April 30th. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, JPMorgan Chase & Co. raised their price objective on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a report on Tuesday, July 23rd. Three research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $114.67.

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.