Teacher Retirement System of Texas Decreases Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Teacher Retirement System of Texas cut its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 6.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 130,529 shares of the asset manager's stock after selling 8,976 shares during the period. Teacher Retirement System of Texas owned 0.06% of T. Rowe Price Group worth $14,762,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Addison Advisors LLC boosted its stake in T. Rowe Price Group by 67.4% during the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager's stock worth $26,000 after purchasing an additional 93 shares during the last quarter. Curio Wealth LLC acquired a new position in T. Rowe Price Group during the fourth quarter worth about $27,000. Y.D. More Investments Ltd grew its stake 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 acquiring an additional 155 shares in the last quarter. Stonebridge Financial Group LLC acquired a new stake in T. Rowe Price Group in the 4th quarter valued at about $32,000. Finally, Advantage Trust Co lifted its stake in 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 in the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Down 1.1 %

NASDAQ TROW traded down $1.03 on Wednesday, reaching $94.44. The stock had a trading volume of 1,358,808 shares, compared to its average volume of 1,299,869. The stock has a fifty day moving average price of $105.77 and a two-hundred day moving average price of $111.13. T. Rowe Price Group, Inc. has a 12-month low of $91.37 and a 12-month high of $125.81. The firm has a market capitalization of $21.03 billion, a price-to-earnings ratio of 10.31, a P/E/G ratio of 2.86 and a beta of 1.46.

Remove Ads

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. During the same period in the previous year, the company posted $1.72 earnings per share. Sell-side analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 5.38%. The ex-dividend date is Friday, March 14th. This is a boost from T. Rowe Price Group's previous quarterly dividend of $1.24. T. Rowe Price Group's dividend payout ratio is currently 55.46%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on TROW shares. StockNews.com cut T. Rowe Price Group from a "buy" rating to a "hold" rating in a report on Sunday, February 2nd. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $113.00 target price (up from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Barclays lowered their price target 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. Wells Fargo & Company cut their price objective on shares of 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, Morgan Stanley decreased their target price on shares of T. Rowe Price Group from $126.00 to $121.00 and set an "equal weight" rating on the stock in a report on Monday, February 24th. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat.com, T. Rowe Price Group has a consensus rating of "Hold" and an average target price of $114.09.

Insider Activity at T. Rowe Price Group

In related news, VP Arif Husain sold 4,112 shares of T. Rowe Price Group stock in a transaction on Tuesday, February 11th. The stock was 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 trade represents a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.00% of the company's stock.

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.