Public Employees Retirement Association of Colorado Sells 681 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Public Employees Retirement Association of Colorado trimmed its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,506 shares of the asset manager’s stock after selling 681 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in T. Rowe Price Group were worth $2,595,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. XTX Topco Ltd acquired a new position in T. Rowe Price Group during the 2nd quarter worth about $925,000. Blair William & Co. IL raised its stake in shares of T. Rowe Price Group by 5.1% in the second quarter. Blair William & Co. IL now owns 214,777 shares of the asset manager’s stock worth $24,766,000 after acquiring an additional 10,340 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in shares of T. Rowe Price Group by 36.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 31,221 shares of the asset manager’s stock worth $3,600,000 after acquiring an additional 8,283 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of T. Rowe Price Group by 19.3% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 146,849 shares of the asset manager’s stock worth $16,933,000 after purchasing an additional 23,745 shares in the last quarter. Finally, Bradley Foster & Sargent Inc. CT grew its stake in shares of T. Rowe Price Group by 3.1% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 10,214 shares of the asset manager’s stock valued at $1,178,000 after purchasing an additional 310 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW opened at $108.10 on Tuesday. T. Rowe Price Group, Inc. has a 52-week low of $87.43 and a 52-week high of $122.27. The stock has a market cap of $24.14 billion, a P/E ratio of 12.84, a P/E/G ratio of 1.69 and a beta of 1.41. The firm has a 50 day moving average price of $108.59 and a 200 day moving average price of $113.19.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.79 billion. T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. T. Rowe Price Group’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.02 EPS. Analysts predict that T. Rowe Price Group, Inc. will post 9 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a $1.24 dividend. The ex-dividend date is Friday, September 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.59%. T. Rowe Price Group’s dividend payout ratio is presently 58.91%.

Insider Buying and Selling

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the transaction, the insider now owns 13,939 shares of the company’s stock, valued at $1,459,831.47. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the sale, the insider now owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $102.83, for a total value of $1,230,772.27. Following the transaction, the vice president now directly owns 123,624 shares of the company’s stock, valued at $12,712,255.92. The disclosure for this sale can be found here. In the last three months, insiders sold 13,854 shares of company stock valued at $1,443,767. 2.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $120.00 price objective (down previously from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft upped their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Wells Fargo & Company began coverage on T. Rowe Price Group in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $109.00 price objective for the company. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Finally, JPMorgan Chase & Co. lifted their price target on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 23rd. Three analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat, T. Rowe Price Group presently has a consensus rating of “Hold” and an average target price of $113.30.

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.