Kentucky Retirement Systems Has $1.94 Million Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Kentucky Retirement Systems reduced its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 16,827 shares of the asset manager’s stock after selling 177 shares during the period. Kentucky Retirement Systems’ holdings in T. Rowe Price Group were worth $1,940,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Massmutual Trust Co. FSB ADV boosted its position in T. Rowe Price Group by 7.5% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,236 shares of the asset manager’s stock worth $151,000 after buying an additional 86 shares during the period. ST Germain D J Co. Inc. grew its stake in shares of T. Rowe Price Group by 0.3% in the first quarter. ST Germain D J Co. Inc. now owns 31,065 shares of the asset manager’s stock worth $3,787,000 after purchasing an additional 88 shares during the last quarter. MCF Advisors LLC increased its holdings in T. Rowe Price Group by 1.6% in the first quarter. MCF Advisors LLC now owns 5,953 shares of the asset manager’s stock valued at $726,000 after purchasing an additional 92 shares during the period. Paulson Wealth Management Inc. raised its position in T. Rowe Price Group by 4.9% during the 1st quarter. Paulson Wealth Management Inc. now owns 2,028 shares of the asset manager’s stock worth $247,000 after purchasing an additional 95 shares during the last quarter. Finally, Private Wealth Partners LLC raised its position in T. Rowe Price Group by 3.1% during the 2nd quarter. Private Wealth Partners LLC now owns 3,300 shares of the asset manager’s stock worth $381,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

TROW stock opened at $108.29 on Friday. The company’s 50-day moving average is $108.80 and its 200-day moving average is $113.30. T. Rowe Price Group, Inc. has a 1 year low of $87.43 and a 1 year high of $122.27. The stock has a market capitalization of $24.11 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 1.69 and a beta of 1.41.

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 the consensus estimate of $2.27 by ($0.01). T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter in the prior year, the firm earned $2.02 EPS. The company’s revenue was up 7.6% compared to the same quarter last year. On average, analysts anticipate 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 announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 4.58%. The ex-dividend date is Friday, September 13th. T. Rowe Price Group’s payout ratio is presently 58.91%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TROW. Evercore ISI decreased their price target on T. Rowe Price Group from $115.00 to $108.00 and set an “in-line” rating for the company in a research note on Thursday, September 5th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. upped their price objective on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the company an “underweight” rating in a research note on Tuesday, July 23rd. TD Cowen lowered their target price on shares of T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating for the company in a research note on Monday, July 29th. Finally, StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Three analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $113.30.

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 dated Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the completion of the transaction, the insider now owns 13,939 shares in the company, valued at approximately $1,459,831.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the completion of the sale, the vice president now owns 123,624 shares in the company, valued at approximately $12,712,255.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $104.73, for a total transaction of $50,689.32. Following the transaction, the insider now directly owns 13,939 shares in the company, valued at $1,459,831.47. The disclosure for this sale can be found here. Insiders have sold 13,854 shares of company stock worth $1,443,767 in the last quarter. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Profile

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.