State of New Jersey Common Pension Fund D Sells 43,507 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

State of New Jersey Common Pension Fund D lessened its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 35.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 78,383 shares of the asset manager's stock after selling 43,507 shares during the period. State of New Jersey Common Pension Fund D's holdings in T. Rowe Price Group were worth $9,038,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. boosted its holdings in shares of T. Rowe Price Group by 15.8% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 344,889 shares of the asset manager's stock worth $37,141,000 after acquiring an additional 47,043 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in shares of T. Rowe Price Group during the first quarter worth $1,008,000. Nebula Research & Development LLC acquired a new stake in shares of T. Rowe Price Group during the fourth quarter worth $807,000. Fisher Asset Management LLC grew its stake in shares of T. Rowe Price Group by 6.6% in the fourth quarter. Fisher Asset Management LLC now owns 1,751,405 shares of the asset manager's stock valued at $188,609,000 after acquiring an additional 109,053 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its position in T. Rowe Price Group by 52.4% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 65,534 shares of the asset manager's stock worth $7,990,000 after acquiring an additional 22,533 shares during the period. Institutional investors and hedge funds own 73.39% of the company's stock.

Insider Buying and Selling

In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business'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 approximately $12,712,255.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total transaction of $234,000.00. Following the transaction, the vice president now directly owns 34,710 shares of the company's stock, valued at $4,061,070. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction on Friday, September 6th. The shares were sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the completion of the sale, 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. Insiders sold 15,370 shares of company stock valued at $1,627,078 over the last quarter. Insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on TROW shares. JPMorgan Chase & Co. increased their target price 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. TD Cowen decreased their price target on T. Rowe Price Group from $123.00 to $118.00 and set a "hold" rating on the stock in a research report on Monday, July 29th. 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. Evercore ISI reduced their price objective on shares of T. Rowe Price Group from $115.00 to $108.00 and set an "in-line" rating on the stock in a research note on Thursday, September 5th. Finally, Keefe, Bruyette & Woods restated a "market perform" rating and set a $120.00 price objective (down from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. Three research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $113.30.

T. Rowe Price Group Stock Performance

Shares of NASDAQ:TROW traded up $0.92 during mid-day trading on Friday, reaching $104.56. 1,147,852 shares of the company's stock were exchanged, compared to its average volume of 1,019,584. T. Rowe Price Group, Inc. has a twelve month low of $87.43 and a twelve month high of $122.27. The firm has a market capitalization of $23.28 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 1.67 and a beta of 1.41. The business's fifty day moving average price is $109.60 and its 200-day moving average price is $113.51.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, missing analysts' consensus estimates 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 company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter last year, the firm posted $2.02 EPS. The company's quarterly revenue was up 7.6% on a year-over-year basis. Analysts predict that T. Rowe Price Group, Inc. will post 9 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed 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 4.74%. The ex-dividend date is Friday, September 13th. T. Rowe Price Group's dividend payout ratio (DPR) is presently 58.91%.

T. Rowe Price Group Company 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.