Illinois Municipal Retirement Fund Sells 7,130 Shares of T. Rowe Price Group, Inc. $TROW

Illinois Municipal Retirement Fund cut its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 7.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 93,885 shares of the asset manager’s stock after selling 7,130 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in T. Rowe Price Group were worth $8,463,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund boosted its position in T. Rowe Price Group by 0.4% during the first quarter. Oregon Public Employees Retirement Fund now owns 25,062 shares of the asset manager’s stock worth $2,259,000 after purchasing an additional 100 shares during the period. MTM Investment Management LLC raised its position in shares of T. Rowe Price Group by 3.5% in the fourth quarter. MTM Investment Management LLC now owns 3,167 shares of the asset manager’s stock valued at $324,000 after purchasing an additional 107 shares during the period. GenTrust LLC raised its position in shares of T. Rowe Price Group by 5.5% in the fourth quarter. GenTrust LLC now owns 2,114 shares of the asset manager’s stock valued at $216,000 after purchasing an additional 110 shares during the period. Fiduciary Trust Co lifted its stake in shares of T. Rowe Price Group by 4.5% during the 3rd quarter. Fiduciary Trust Co now owns 2,579 shares of the asset manager’s stock worth $265,000 after buying an additional 111 shares during the last quarter. Finally, 1834 Investment Advisors Co. lifted its stake in shares of T. Rowe Price Group by 0.3% during the 4th quarter. 1834 Investment Advisors Co. now owns 37,490 shares of the asset manager’s stock worth $3,838,000 after buying an additional 115 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Morgan Stanley upped their price target on shares of T. Rowe Price Group from $105.00 to $109.00 and gave the company an “equal weight” rating in a research note on Friday, June 26th. Barclays raised their price objective on shares of T. Rowe Price Group from $89.00 to $108.00 and gave the stock an “underweight” rating in a research report on Tuesday. Zacks Research raised T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Keefe, Bruyette & Woods increased their target price on T. Rowe Price Group from $107.00 to $120.00 and gave the stock a “market perform” rating in a research note on Friday, July 10th. Finally, The Goldman Sachs Group lifted their price target on T. Rowe Price Group from $90.00 to $92.00 and gave the stock a “sell” rating in a report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $103.42.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of T. Rowe Price Group stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total value of $307,680.00. Following the completion of the transaction, the vice president directly owned 83,883 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is currently owned by company insiders.

T. Rowe Price Group Stock Down 1.3%

NASDAQ TROW opened at $117.35 on Friday. The company has a market capitalization of $25.14 billion, a P/E ratio of 12.58, a P/E/G ratio of 4.28 and a beta of 1.47. T. Rowe Price Group, Inc. has a 12-month low of $85.22 and a 12-month high of $121.17. The firm has a 50-day moving average price of $108.85 and a two-hundred day moving average price of $101.32.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.37 by $0.15. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The business’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.23 EPS. Equities analysts expect that T. Rowe Price Group, Inc. will post 10.07 EPS for the current year.

T. Rowe Price Group Dividend Announcement

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

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.