Public Employees Retirement System of Ohio Raises Stake in T. Rowe Price Group, Inc. $TROW

Key Points

• The Public Employees Retirement System of Ohio increased its stake in T. Rowe Price Group, Inc. by 11.3%, now holding approximately 121,239 shares worth $11.7 million.
• T. Rowe Price Group reported a Q2 EPS of $2.24, beating estimates and facing a 0.6% decline in revenue year-over-year.
• The company announced a quarterly dividend of $1.27, which reflects an annualized yield of 4.9%, with a payout ratio of 56.76%.

Public Employees Retirement System of Ohio raised its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 11.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 121,239 shares of the asset manager's stock after acquiring an additional 12,319 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.06% of T. Rowe Price Group worth $11,700,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in TROW. Invesco Ltd. lifted its stake in T. Rowe Price Group by 43.2% in the first quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager's stock worth $315,453,000 after acquiring an additional 1,035,865 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of T. Rowe Price Group by 7.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager's stock worth $707,973,000 after buying an additional 519,075 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of T. Rowe Price Group by 9,555.5% during the 1st quarter. GAMMA Investing LLC now owns 333,212 shares of the asset manager's stock worth $30,612,000 after buying an additional 329,761 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of T. Rowe Price Group by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 26,286,393 shares of the asset manager's stock worth $2,414,931,000 after buying an additional 222,556 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of T. Rowe Price Group by 505.5% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 172,709 shares of the asset manager's stock worth $15,867,000 after buying an additional 144,187 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company's stock.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock opened at $103.47 on Friday. The firm's fifty day simple moving average is $106.13 and its 200-day simple moving average is $97.75. The stock has a market capitalization of $22.73 billion, a price-to-earnings ratio of 11.56, a PEG ratio of 2.68 and a beta of 1.51. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its earnings results on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.09. The business had revenue of $1.72 billion for the quarter, compared to analysts' expectations of $1.72 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The company's quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the company posted $2.26 EPS. Analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be paid a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend is Monday, September 15th. T. Rowe Price Group's payout ratio is currently 56.76%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of T. Rowe Price Group from $98.00 to $102.00 and gave the stock an "underweight" rating in a research report on Monday, August 4th. Wells Fargo & Company boosted their price objective 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. Zacks Research downgraded shares of T. Rowe Price Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. Barclays restated an "underweight" rating and set a $95.00 price objective (up previously from $91.00) on shares of T. Rowe Price Group in a research report on Monday, August 4th. Finally, Morgan Stanley boosted their price objective on shares of T. Rowe Price Group from $112.00 to $116.00 and gave the stock an "equal weight" rating in a research report on Monday, August 4th. One investment analyst has rated the stock with a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus target price of $101.55.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the business's stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $105.01, for a total value of $324,480.90. Following the transaction, the director directly owned 47,335 shares of the company's stock, valued at approximately $4,970,648.35. The trade was a 6.13% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate 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.

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