T. Rowe Price Group, Inc. (NASDAQ:TROW) Holdings Cut by California State Teachers Retirement System

California State Teachers Retirement System lowered its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 0.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 379,844 shares of the asset manager's stock after selling 2,759 shares during the quarter. California State Teachers Retirement System owned approximately 0.17% of T. Rowe Price Group worth $42,957,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Addison Advisors LLC lifted its stake in T. Rowe Price Group by 67.4% in the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager's stock valued at $26,000 after buying an additional 93 shares in the last quarter. Curio Wealth LLC purchased a new stake in T. Rowe Price Group in the 4th quarter valued at approximately $27,000. Y.D. More Investments Ltd lifted its stake in T. Rowe Price Group by 124.0% in the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager's stock valued at $32,000 after buying an additional 155 shares in the last quarter. Stonebridge Financial Group LLC purchased a new stake in T. Rowe Price Group in the 4th quarter valued at approximately $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 valued at $34,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company's stock.

T. Rowe Price Group Stock Up 0.3%

Shares of TROW stock traded up $0.31 on Thursday, reaching $94.31. 1,125,252 shares of the stock were exchanged, compared to its average volume of 1,493,374. The stock has a market cap of $20.78 billion, a P/E ratio of 10.30, a price-to-earnings-growth ratio of 2.86 and a beta of 1.50. The firm has a 50 day moving average of $90.70 and a two-hundred day moving average of $104.53. T. Rowe Price Group, Inc. has a 1-year low of $77.85 and a 1-year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The asset manager reported $2.23 EPS for the quarter, topping analysts' consensus estimates of $2.13 by $0.10. The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.80 billion. T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. The business's revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.38 EPS. On average, equities research analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be issued a $1.27 dividend. The ex-dividend date is Friday, June 13th. This represents a $5.08 annualized dividend and a yield of 5.39%. T. Rowe Price Group's dividend payout ratio is currently 57.60%.

Analyst Ratings Changes

TROW has been the topic of a number of recent analyst reports. Wells Fargo & Company reduced their price target on T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $113.00 price target (up previously from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. JPMorgan Chase & Co. reduced their price target on T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 16th. Bank of America reduced their price target on T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating on the stock in a research note on Thursday, April 3rd. Finally, Wall Street Zen lowered T. Rowe Price Group from a "buy" rating to a "hold" rating in a research note on Sunday, February 2nd. Four investment analysts have rated the stock with a sell rating and nine have given a hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $94.09.

Insider Activity at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,955 shares of the firm's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $91.56, for a total transaction of $362,119.80. Following the completion of the sale, the director now directly owns 42,979 shares in the company, valued at $3,935,157.24. This trade represents a 8.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jessica M. Hiebler sold 968 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $96.98, for a total value of $93,876.64. Following the sale, the insider now owns 13,611 shares of the company's stock, valued at $1,319,994.78. This represents a 6.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

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.