New York State Common Retirement Fund Has $13.72 Million Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

New York State Common Retirement Fund lowered its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 11.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 149,289 shares of the asset manager's stock after selling 19,500 shares during the quarter. New York State Common Retirement Fund owned approximately 0.07% of T. Rowe Price Group worth $13,715,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in TROW. Hexagon Capital Partners LLC lifted its stake in shares of T. Rowe Price Group by 44.8% during the 1st quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager's stock worth $34,000 after buying an additional 113 shares during the last quarter. Smallwood Wealth Investment Management LLC acquired a new stake in shares of T. Rowe Price Group during the 1st quarter worth about $39,000. Chilton Capital Management LLC acquired a new stake in shares of T. Rowe Price Group during the 1st quarter worth about $41,000. Ameriflex Group Inc. acquired a new stake in shares of T. Rowe Price Group during the 4th quarter worth about $42,000. Finally, Wayfinding Financial LLC acquired a new stake in shares of T. Rowe Price Group during the 1st quarter worth about $43,000. Institutional investors and hedge funds own 73.39% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on TROW shares. Bank of America cut their target price on shares of T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating for the company in a research note on Thursday, April 3rd. The Goldman Sachs Group cut their target price on shares of T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating for the company in a research note on Monday, April 14th. Wells Fargo & Company raised their price target on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the stock an "equal weight" rating in a research report on Friday, July 11th. Cowen reaffirmed a "hold" rating on shares of T. Rowe Price Group in a research report on Monday, May 5th. Finally, JPMorgan Chase & Co. raised their price target on shares of T. Rowe Price Group from $90.00 to $98.00 and gave the stock an "underweight" rating in a research report on Wednesday. Four equities research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. According to data from MarketBeat, T. Rowe Price Group currently has an average rating of "Hold" and a consensus target price of $96.64.

T. Rowe Price Group Trading Down 0.6%

TROW stock traded down $0.64 during mid-day trading on Friday, hitting $105.77. The stock had a trading volume of 4,819,403 shares, compared to its average volume of 1,577,692. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81. The firm has a market capitalization of $23.30 billion, a P/E ratio of 11.99, a P/E/G ratio of 3.09 and a beta of 1.49. The firm has a fifty day simple moving average of $96.37 and a 200 day simple moving average of $98.97.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its earnings results on Friday, May 2nd. The asset manager reported $2.23 EPS for the quarter, beating the consensus estimate of $2.13 by $0.10. T. Rowe Price Group had a net margin of 28.38% and a return on equity of 20.17%. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period last year, the firm earned $2.38 EPS. The business's quarterly revenue was up .8% compared to the same quarter last year. As a group, equities analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were issued a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 4.80%. The ex-dividend date of this dividend was Friday, June 13th. T. Rowe Price Group's dividend payout ratio is currently 57.60%.

Insider Activity at T. Rowe Price Group

In related news, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total transaction of $190,860.00. Following the sale, the vice president directly owned 44,789 shares of the company's stock, valued at approximately $4,274,214.27. The trade was a 4.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jessica M. Hiebler sold 968 shares of T. Rowe Price Group stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $96.98, for a total transaction of $93,876.64. Following the sale, the insider directly owned 13,611 shares in the company, valued at $1,319,994.78. This trade represents a 6.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company's stock.

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.