T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio cut its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 5.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 134,355 shares of the asset manager's stock after selling 7,814 shares during the period. Public Employees Retirement System of Ohio owned about 0.06% of T. Rowe Price Group worth $15,194,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TROW. Glenview Trust co grew its holdings in shares of T. Rowe Price Group by 2.2% during the fourth quarter. Glenview Trust co now owns 4,318 shares of the asset manager's stock worth $488,000 after purchasing an additional 92 shares during the last quarter. Addison Advisors LLC grew its holdings in shares of T. Rowe Price Group by 67.4% during the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager's stock worth $26,000 after buying an additional 93 shares during the last quarter. Advantage Trust Co grew its holdings in shares of T. Rowe Price Group by 48.8% during the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager's stock worth $34,000 after buying an additional 100 shares during the last quarter. Valeo Financial Advisors LLC grew its holdings in shares of T. Rowe Price Group by 3.5% during the fourth quarter. Valeo Financial Advisors LLC now owns 2,996 shares of the asset manager's stock worth $339,000 after buying an additional 102 shares during the last quarter. Finally, Strategy Asset Managers LLC grew its holdings in shares of T. Rowe Price Group by 5.0% during the fourth quarter. Strategy Asset Managers LLC now owns 2,277 shares of the asset manager's stock worth $258,000 after buying an additional 108 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TROW. Evercore ISI reduced their price target on shares of 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. Wells Fargo & Company cut their price objective on T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Cowen restated a "hold" rating on shares of T. Rowe Price Group in a research report on Monday, May 5th. TD Cowen cut their price objective on T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating for the company in a research report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. cut their price target on T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating for the company in a report on Wednesday, April 16th. Four equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the company's stock. According to MarketBeat.com, T. Rowe Price Group presently has an average rating of "Hold" and an average target price of $94.09.

T. Rowe Price Group Price Performance

NASDAQ TROW traded up $0.31 during trading hours on Thursday, hitting $94.31. The company had a trading volume of 1,124,835 shares, compared to its average volume of 1,491,041. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81. The company has a market capitalization of $20.78 billion, a price-to-earnings ratio of 10.30, a P/E/G ratio of 2.86 and a beta of 1.50. The firm's 50 day moving average is $90.74 and its 200 day moving average is $104.70.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.10. The company 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 company's revenue was up .8% on a year-over-year basis. During the same period last year, the firm earned $2.38 earnings per share. On average, equities analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be paid a dividend of $1.27 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $5.08 annualized dividend and a dividend yield of 5.39%. T. Rowe Price Group's dividend payout ratio is presently 57.60%.

Insider Activity

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,955 shares of the firm's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $91.56, for a total value of $362,119.80. Following the transaction, the director now owns 42,979 shares of the company's stock, 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 SEC, which is available at this link. Also, insider Jessica M. Hiebler sold 968 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $96.98, for a total transaction of $93,876.64. Following the completion of the transaction, the insider now directly owns 13,611 shares in the company, valued at $1,319,994.78. This represents a 6.64% decrease in their position. The disclosure for this sale can be found here. 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.