New York State Teachers Retirement System Has $18.34 Million Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

New York State Teachers Retirement System decreased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 2.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 199,576 shares of the asset manager's stock after selling 5,984 shares during the quarter. New York State Teachers Retirement System owned approximately 0.09% of T. Rowe Price Group worth $18,335,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TROW. Curio Wealth LLC bought a new position in shares of T. Rowe Price Group during the fourth quarter worth approximately $27,000. Ameriflex Group Inc. bought a new position in T. Rowe Price Group during the 4th quarter worth $42,000. Summit Securities Group LLC bought a new position in T. Rowe Price Group during the 4th quarter worth $57,000. Park Square Financial Group LLC acquired a new stake in shares of T. Rowe Price Group during the fourth quarter worth $61,000. Finally, CX Institutional bought a new stake in shares of T. Rowe Price Group in the first quarter valued at about $57,000. 73.39% of the stock is owned by institutional investors.

Insider Buying and Selling at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 968 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $96.98, for a total transaction of $93,876.64. Following the sale, the insider owned 13,611 shares of the company's stock, valued at $1,319,994.78. This trade represents a 6.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total value of $190,860.00. Following the completion of the transaction, the vice president owned 44,789 shares of the company's stock, valued at $4,274,214.27. This represents a 4.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TROW. Morgan Stanley lifted their price objective on shares of T. Rowe Price Group from $95.00 to $104.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Barclays raised their target price on shares of T. Rowe Price Group from $85.00 to $90.00 and gave the stock an "underweight" rating in a report on Monday, May 5th. 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 report on Wednesday, April 16th. Citigroup dropped their price objective on T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Finally, Evercore ISI cut their target price on T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating for the company in a research report on Friday, April 11th. Four analysts have rated the stock with a sell rating and nine have given a hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $94.91.

T. Rowe Price Group Stock Up 1.3%

NASDAQ:TROW opened at $99.96 on Thursday. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81. The stock's 50-day simple moving average is $93.81 and its 200 day simple moving average is $100.07. The firm has a market capitalization of $22.02 billion, a PE ratio of 11.33, a price-to-earnings-growth ratio of 3.20 and a beta of 1.49.

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

T. Rowe Price Group Announces Dividend

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

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.

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