Maryland State Retirement & Pension System Has $942,000 Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Maryland State Retirement & Pension System decreased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 12.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,253 shares of the asset manager’s stock after selling 1,458 shares during the quarter. Maryland State Retirement & Pension System’s holdings in T. Rowe Price Group were worth $942,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in T. Rowe Price Group by 0.9% during the first quarter. Vanguard Group Inc. now owns 26,286,393 shares of the asset manager’s stock worth $2,414,931,000 after acquiring an additional 222,556 shares during the period. Charles Schwab Investment Management Inc. grew its position in T. Rowe Price Group by 7.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager’s stock worth $707,973,000 after purchasing an additional 519,075 shares during the last quarter. Fayez Sarofim & Co increased its holdings in shares of T. Rowe Price Group by 7.6% during the 4th quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager’s stock worth $684,474,000 after purchasing an additional 425,142 shares during the period. Northern Trust Corp lifted its stake in shares of T. Rowe Price Group by 10.0% in the fourth quarter. Northern Trust Corp now owns 2,290,739 shares of the asset manager’s stock valued at $259,060,000 after buying an additional 208,304 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in T. Rowe Price Group by 28.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,762,910 shares of the asset manager’s stock worth $199,367,000 after buying an additional 387,604 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Dorothy C. Sawyer sold 2,000 shares of the company’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total transaction of $190,860.00. Following the transaction, the vice president owned 44,789 shares in the company, valued at $4,274,214.27. This represents a 4.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on TROW shares. Citigroup cut their price target on T. Rowe Price Group from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Wells Fargo & Company raised their target price on T. Rowe Price Group from $98.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Friday, July 11th. Barclays reissued an “underweight” rating and issued a $95.00 price target (up previously from $91.00) on shares of T. Rowe Price Group in a report on Monday, August 4th. Evercore ISI raised their price objective on shares of T. Rowe Price Group from $106.00 to $110.00 and gave the stock an “in-line” rating in a report on Monday, August 4th. Finally, The Goldman Sachs Group decreased their target price on shares of T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating on the stock in a research report on Monday, April 14th. Four analysts have rated the stock with a sell rating and nine have given a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $101.09.

T. Rowe Price Group Stock Up 0.2%

Shares of TROW stock opened at $105.27 on Tuesday. The company has a market capitalization of $23.13 billion, a P/E ratio of 11.76, a P/E/G ratio of 2.86 and a beta of 1.47. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $125.81. The firm has a 50-day moving average price of $99.76 and a 200 day moving average price of $97.87.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.09. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.72 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 quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.26 earnings per share. As a group, research analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.8%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 56.76%.

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.