Illinois Municipal Retirement Fund Has $6.32 Million Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Illinois Municipal Retirement Fund raised its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 9.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 68,840 shares of the asset manager's stock after purchasing an additional 6,080 shares during the quarter. Illinois Municipal Retirement Fund's holdings in T. Rowe Price Group were worth $6,324,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Exchange Traded Concepts LLC lifted its position in shares of T. Rowe Price Group by 27.9% during the first quarter. Exchange Traded Concepts LLC now owns 971 shares of the asset manager's stock worth $89,000 after purchasing an additional 212 shares in the last quarter. Amundi lifted its holdings in T. Rowe Price Group by 30.1% during the 4th quarter. Amundi now owns 1,717,877 shares of the asset manager's stock worth $194,064,000 after buying an additional 397,278 shares in the last quarter. Schroder Investment Management Group lifted its holdings in T. Rowe Price Group by 49.4% during the 4th quarter. Schroder Investment Management Group now owns 221,579 shares of the asset manager's stock worth $25,229,000 after buying an additional 73,307 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in T. Rowe Price Group by 5.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 357,556 shares of the asset manager's stock valued at $40,436,000 after buying an additional 20,062 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of T. Rowe Price Group by 9,555.5% in the 1st quarter. GAMMA Investing LLC now owns 333,212 shares of the asset manager's stock valued at $30,612,000 after buying an additional 329,761 shares during the period. Institutional investors own 73.39% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TROW. Bank of America decreased their price target on T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating on the stock in a report on Thursday, April 3rd. Wells Fargo & Company cut their target price on shares of T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Barclays raised their target price on shares of T. Rowe Price Group from $85.00 to $90.00 and gave the company an "underweight" rating in a research note on Monday, May 5th. Cowen reiterated a "hold" rating on shares of T. Rowe Price Group in a research report on Monday, May 5th. Finally, Evercore ISI cut their price objective on shares of T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating on the stock in a report on Friday, April 11th. Four investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $94.09.

T. Rowe Price Group Price Performance

TROW traded up $1.89 during mid-day trading on Tuesday, hitting $98.39. The stock had a trading volume of 754,017 shares, compared to its average volume of 1,522,248. The stock's fifty day simple moving average is $93.29 and its 200-day simple moving average is $100.08. The firm has a market capitalization of $21.68 billion, a price-to-earnings ratio of 11.14, a price-to-earnings-growth ratio of 3.12 and a beta of 1.49. 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 issued its quarterly earnings data on Friday, May 2nd. The asset manager reported $2.23 EPS for the quarter, topping the consensus estimate of $2.13 by $0.10. T. Rowe Price Group had a return on equity of 20.17% and a net margin of 28.38%. The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter last year, the business posted $2.38 EPS. The firm's revenue was up .8% compared to the same quarter last year. As a group, research analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were issued a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 5.16%. The ex-dividend date was Friday, June 13th. T. Rowe Price Group's dividend payout ratio (DPR) is presently 57.60%.

Insider Activity at T. Rowe Price Group

In other news, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction 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 completion of the sale, 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 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 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 in the company, valued at approximately $1,319,994.78. The trade was a 6.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

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.