California Public Employees Retirement System Sells 23,469 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

California Public Employees Retirement System trimmed its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 5.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 375,992 shares of the asset manager's stock after selling 23,469 shares during the quarter. California Public Employees Retirement System owned 0.17% of T. Rowe Price Group worth $42,521,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Addison Advisors LLC raised its holdings in shares of T. Rowe Price Group by 67.4% during the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager's stock valued at $26,000 after acquiring an additional 93 shares in the last quarter. Curio Wealth LLC purchased a new position in T. Rowe Price Group during the 4th quarter valued at $27,000. Y.D. More Investments Ltd increased its position in T. Rowe Price Group by 124.0% during the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager's stock valued at $32,000 after purchasing an additional 155 shares during the period. Stonebridge Financial Group LLC bought a new position in T. Rowe Price Group in the 4th quarter worth $32,000. Finally, Advantage Trust Co lifted its position in shares of T. Rowe Price Group by 48.8% in the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager's stock worth $34,000 after purchasing an additional 100 shares during the period. 73.39% of the stock is currently owned by institutional investors.

Insider Buying and Selling at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,955 shares of T. Rowe Price Group stock in a transaction on Monday, March 31st. The stock was sold at an average price of $91.56, for a total value of $362,119.80. Following the completion of the sale, the director now owns 42,979 shares of the company's stock, valued at $3,935,157.24. The trade was a 8.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Arif Husain sold 4,112 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value of $449,318.24. Following the completion of the transaction, the vice president now directly owns 36,800 shares in the company, valued at approximately $4,021,136. This represents a 10.05 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.00% of the company's stock.

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Wall Street Analyst Weigh In

TROW has been the topic of several research analyst reports. Morgan Stanley reduced their price target on shares of T. Rowe Price Group from $126.00 to $121.00 and set an "equal weight" rating on the stock in a research report on Monday, February 24th. Bank of America reduced their target price on T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating on the stock in a report on Thursday. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $113.00 price objective (up previously from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Wells Fargo & Company lowered their price objective on T. Rowe Price Group from $118.00 to $116.00 and set an "equal weight" rating for the company in a research report on Thursday, February 6th. Finally, Barclays reduced their target price on shares of T. Rowe Price Group from $113.00 to $105.00 and set an "underweight" rating on the stock in a research report on Thursday, February 6th. Five investment analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $108.50.

T. Rowe Price Group Stock Performance

Shares of TROW traded down $0.94 on Monday, hitting $81.66. 3,939,620 shares of the stock traded hands, compared to its average volume of 1,403,809. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $125.81. The company has a market capitalization of $18.15 billion, a PE ratio of 8.91, a P/E/G ratio of 2.86 and a beta of 1.50. The business has a 50 day simple moving average of $101.54 and a 200 day simple moving average of $110.12.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its earnings results on Wednesday, February 5th. The asset manager reported $2.12 EPS for the quarter, missing analysts' consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same period in the prior year, the business posted $1.72 earnings per share. On average, equities analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a $1.27 dividend. This is a positive change from T. Rowe Price Group's previous quarterly dividend of $1.24. The ex-dividend date was Friday, March 14th. This represents a $5.08 dividend on an annualized basis and a yield of 6.22%. T. Rowe Price Group's payout ratio is 55.46%.

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.