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

California Public Employees Retirement System lowered its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 375,992 shares of the asset manager’s stock after selling 23,469 shares during the period. California Public Employees Retirement System’s holdings in T. Rowe Price Group were worth $42,521,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Norges Bank acquired a new position in shares of T. Rowe Price Group during the fourth quarter worth $117,704,000. Amundi boosted its position in shares of T. Rowe Price Group by 30.1% during the 4th quarter. Amundi now owns 1,717,877 shares of the asset manager’s stock worth $194,064,000 after acquiring an additional 397,278 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of T. Rowe Price Group by 5.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager’s stock valued at $812,798,000 after acquiring an additional 346,369 shares during the last quarter. L.K. Benson & Company P.C. acquired a new stake in shares of T. Rowe Price Group during the 4th quarter worth about $36,643,000. Finally, Raymond James Financial Inc. purchased a new stake in T. Rowe Price Group during the fourth quarter worth approximately $32,332,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Activity at T. Rowe Price Group

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

T. Rowe Price Group Trading Up 1.8 %

T. Rowe Price Group stock opened at $93.90 on Thursday. The stock has a 50 day moving average of $103.36 and a two-hundred day moving average of $110.62. T. Rowe Price Group, Inc. has a twelve month low of $89.70 and a twelve month high of $125.81. The stock 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 (NASDAQ:TROW) last posted its quarterly earnings data 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 net margin of 29.61% and a return on equity of 20.83%. During the same quarter in the previous year, the business earned $1.72 earnings per share. Equities analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a dividend of $1.27 per share. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 annualized dividend and a 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%.

Analyst Upgrades and Downgrades

TROW has been the topic of several recent analyst reports. Barclays dropped their price target on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a research note on Thursday, February 6th. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Morgan Stanley decreased their price objective 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 note on Monday, February 24th. Keefe, Bruyette & Woods reiterated 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 report on Thursday, February 6th. Finally, Wells Fargo & Company decreased their target price on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $111.82.

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.