T. Rowe Price Group, Inc. $TROW Shares Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al lifted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 35.2% in the 3rd quarter, Holdings Channel reports. The firm owned 528,500 shares of the asset manager’s stock after purchasing an additional 137,600 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in T. Rowe Price Group were worth $54,245,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TROW. Vident Advisory LLC increased its holdings in T. Rowe Price Group by 24.6% in the first quarter. Vident Advisory LLC now owns 8,335 shares of the asset manager’s stock valued at $766,000 after buying an additional 1,644 shares in the last quarter. EP Wealth Advisors LLC grew its holdings in shares of T. Rowe Price Group by 4.5% in the 1st quarter. EP Wealth Advisors LLC now owns 9,290 shares of the asset manager’s stock worth $853,000 after acquiring an additional 401 shares during the period. Federation des caisses Desjardins du Quebec grew its holdings in shares of T. Rowe Price Group by 6.5% in the 1st quarter. Federation des caisses Desjardins du Quebec now owns 28,232 shares of the asset manager’s stock worth $2,594,000 after acquiring an additional 1,734 shares during the period. Promethium Advisors LLC increased its stake in T. Rowe Price Group by 45.2% in the 1st quarter. Promethium Advisors LLC now owns 46,460 shares of the asset manager’s stock valued at $4,268,000 after purchasing an additional 14,473 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in T. Rowe Price Group by 8.9% during the first quarter. Advisors Asset Management Inc. now owns 78,334 shares of the asset manager’s stock worth $7,197,000 after purchasing an additional 6,406 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on TROW shares. The Goldman Sachs Group dropped their price target on T. Rowe Price Group from $98.00 to $93.00 and set a “sell” rating for the company in a research report on Tuesday, November 25th. Evercore ISI dropped their target price on shares of T. Rowe Price Group from $118.00 to $115.00 and set an “in-line” rating for the company in a report on Friday, December 5th. BMO Capital Markets started coverage on shares of T. Rowe Price Group in a report on Friday, October 3rd. They issued a “market perform” rating and a $108.00 price target on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of T. Rowe Price Group in a research report on Monday. Finally, JPMorgan Chase & Co. lifted their price objective on 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. Twelve investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, T. Rowe Price Group presently has a consensus rating of “Reduce” and a consensus target price of $108.31.

T. Rowe Price Group Stock Down 0.9%

TROW stock opened at $103.64 on Wednesday. The stock has a market capitalization of $22.62 billion, a price-to-earnings ratio of 11.29, a price-to-earnings-growth ratio of 2.83 and a beta of 1.53. The stock’s fifty day simple moving average is $102.89 and its 200-day simple moving average is $103.36. T. Rowe Price Group, Inc. has a 52-week low of $77.85 and a 52-week high of $118.32.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, October 31st. The asset manager reported $2.81 EPS for the quarter, topping the consensus estimate of $2.55 by $0.26. T. Rowe Price Group had a net margin of 28.89% and a return on equity of 19.95%. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the prior year, the business posted $2.57 earnings per share. T. Rowe Price Group’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Monday, December 15th were given a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend was Monday, December 15th. T. Rowe Price Group’s dividend payout ratio is 55.34%.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Arif Husain sold 4,260 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $101.96, for a total value of $434,349.60. Following the transaction, the vice president directly owned 47,102 shares of the company’s stock, valued at $4,802,519.92. This trade represents a 8.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

T. Rowe Price Group Profile

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.