Kentucky Retirement Systems Grows Stock Holdings in T. Rowe Price Group, Inc. $TROW

Kentucky Retirement Systems lifted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 56.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,541 shares of the asset manager’s stock after purchasing an additional 7,807 shares during the period. Kentucky Retirement Systems’ holdings in T. Rowe Price Group were worth $1,804,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in TROW. TD Private Client Wealth LLC grew its holdings in shares of T. Rowe Price Group by 91.8% during the 4th quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock worth $26,000 after purchasing an additional 123 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in T. Rowe Price Group by 540.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock worth $29,000 after buying an additional 238 shares in the last quarter. Canton Hathaway LLC purchased a new position in T. Rowe Price Group in the fourth quarter valued at $31,000. Sound Income Strategies LLC boosted its holdings in T. Rowe Price Group by 170.3% in the fourth quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 189 shares during the period. Finally, DV Equities LLC acquired a new position in T. Rowe Price Group during the 4th quarter worth $32,000. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Stephon A. Jackson sold 3,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total value of $307,680.00. Following the transaction, the vice president owned 83,883 shares in the company, valued at $8,603,040.48. The trade was a 3.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.60% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Price Performance

TROW stock opened at $119.28 on Friday. The company has a market cap of $25.56 billion, a price-to-earnings ratio of 12.78, a price-to-earnings-growth ratio of 4.26 and a beta of 1.47. The company has a fifty day moving average price of $111.60 and a 200 day moving average price of $102.08. T. Rowe Price Group, Inc. has a 12 month low of $85.22 and a 12 month high of $122.00.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.15. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.85 billion. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. T. Rowe Price Group’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the firm posted $2.23 EPS. As a group, analysts anticipate that T. Rowe Price Group, Inc. will post 10.12 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 15th were paid a dividend of $1.30 per share. The ex-dividend date was Monday, June 15th. This represents a $5.20 annualized dividend and a dividend yield of 4.4%. T. Rowe Price Group’s dividend payout ratio is 55.73%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on TROW shares. BMO Capital Markets upped their price target on T. Rowe Price Group from $98.00 to $110.00 and gave the stock a “market perform” rating in a report on Monday, May 4th. Morgan Stanley set a $116.00 target price on shares of T. Rowe Price Group in a report on Wednesday. Zacks Research upgraded shares of T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 15th. Keefe, Bruyette & Woods boosted their price target on shares of T. Rowe Price Group from $107.00 to $120.00 and gave the stock a “market perform” rating in a report on Friday, July 10th. Finally, Weiss Ratings raised shares of T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, nine have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, T. Rowe Price Group has an average rating of “Reduce” and a consensus price target of $105.08.

T. Rowe Price Group Company 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.