California State Teachers Retirement System Sells 23,612 Shares of T. Rowe Price Group, Inc. $TROW

California State Teachers Retirement System lowered its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 5.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 398,340 shares of the asset manager's stock after selling 23,612 shares during the period. California State Teachers Retirement System owned about 0.19% of T. Rowe Price Group worth $45,287,275 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Wealthcare Capital Partners LLC increased its stake in T. Rowe Price Group by 1.0% in the second quarter. Wealthcare Capital Partners LLC now owns 9,565 shares of the asset manager's stock valued at $1,087,000 after purchasing an additional 93 shares during the last quarter. Kesler Norman & Wride LLC grew its position in T. Rowe Price Group by 0.6% in the 2nd quarter. Kesler Norman & Wride LLC now owns 15,914 shares of the asset manager's stock worth $1,809,000 after purchasing an additional 96 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of T. Rowe Price Group by 9.4% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,150 shares of the asset manager's stock worth $131,000 after acquiring an additional 99 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in T. Rowe Price Group by 0.4% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 25,062 shares of the asset manager's stock valued at $2,259,000 after acquiring an additional 100 shares in the last quarter. Finally, Concorde Asset Management LLC increased its holdings in shares of T. Rowe Price Group by 3.9% in the first quarter. Concorde Asset Management LLC now owns 2,730 shares of the asset manager's stock valued at $246,000 after purchasing an additional 102 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company's stock.

T. Rowe Price Group Trading Down 1.0%

TROW traded down $1.06 during midday trading on Tuesday, hitting $104.74. 920,295 shares of the company were exchanged, compared to its average volume of 2,094,204. T. Rowe Price Group, Inc. has a 1-year low of $85.22 and a 1-year high of $122.00. The firm has a market capitalization of $22.34 billion, a price-to-earnings ratio of 10.53, a price-to-earnings-growth ratio of 3.52 and a beta of 1.46. The company's 50 day simple moving average is $113.56 and its 200 day simple moving average is $104.52.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The asset manager reported $2.57 EPS for the quarter, topping the consensus estimate of $2.52 by $0.05. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.89 billion. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.The company's quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.24 EPS. On average, equities analysts anticipate that T. Rowe Price Group, Inc. will post 10.16 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date is Tuesday, September 15th. T. Rowe Price Group's dividend payout ratio is currently 52.16%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on TROW shares. Barclays reduced their price target on shares of T. Rowe Price Group from $108.00 to $103.00 and set an "underweight" rating for the company in a research report on Monday, August 3rd. Keefe, Bruyette & Woods restated a "market perform" rating and set a $115.00 price target (down from $120.00) on shares of T. Rowe Price Group in a research note on Monday, August 3rd. The Goldman Sachs Group boosted their price target on shares of T. Rowe Price Group from $90.00 to $92.00 and gave the stock a "sell" rating in a research note on Tuesday, June 30th. Evercore set a $118.00 price target on shares of T. Rowe Price Group in a research report on Monday, August 10th. Finally, Zacks Research downgraded T. Rowe Price Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 13th. One equities research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Reduce" and an average target price of $106.15.

Insiders Place Their Bets

In related news, VP Joshua Nelson sold 10,000 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $111.82, for a total value of $1,118,200.00. Following the completion of the transaction, the vice president directly owned 71,328 shares in the company, valued at approximately $7,975,896.96. The trade was a 12.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.60% of the company's stock.

T. Rowe Price Group Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland. Founded in 1937 by Thomas Rowe Price Jr., the company provides investment management, advisory and related services to individual investors, retirement plans, institutions, financial intermediaries and other clients.

The company offers a broad range of investment products and strategies, including mutual funds, exchange-traded funds, separately managed accounts and institutional portfolios.

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