T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund decreased its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 31.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,378 shares of the asset manager's stock after selling 2,862 shares during the period. Kentucky Retirement Systems Insurance Trust Fund's holdings in T. Rowe Price Group were worth $586,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TROW. Addison Advisors LLC raised its position in 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 acquiring an additional 93 shares during the last quarter. Curio Wealth LLC acquired a new position in T. Rowe Price Group during the fourth quarter worth about $27,000. Ameriflex Group Inc. acquired a new position in T. Rowe Price Group during the fourth quarter worth about $42,000. Summit Securities Group LLC acquired a new position in T. Rowe Price Group during the fourth quarter worth about $57,000. Finally, CX Institutional acquired a new position in T. Rowe Price Group during the first quarter worth about $57,000. Institutional investors and hedge funds own 73.39% of the company's stock.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock opened at $95.10 on Wednesday. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81. The firm has a 50 day moving average price of $92.44 and a 200 day moving average price of $100.94. The company has a market cap of $20.95 billion, a price-to-earnings ratio of 10.78, a PEG ratio of 3.05 and a beta of 1.49.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the previous year, the firm earned $2.38 earnings per share. T. Rowe Price Group's revenue was up .8% compared to the same quarter last year. Sell-side analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be issued a $1.27 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $5.08 dividend on an annualized basis and a yield of 5.34%. T. Rowe Price Group's payout ratio is 57.60%.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 968 shares of the business's 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 completion of the sale, the insider now directly owns 13,611 shares in the company, valued at $1,319,994.78. The trade was a 6.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Dorothy C. Sawyer sold 2,000 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total transaction of $190,860.00. Following the sale, the vice president now owns 44,789 shares of the company's stock, valued at approximately $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. Over the last three months, insiders sold 6,923 shares of company stock worth $646,856. 1.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Morgan Stanley lifted their target price on shares of T. Rowe Price Group from $94.00 to $95.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. 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 report on Thursday, April 3rd. Barclays lifted their price target 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. Citigroup lowered their price target on shares of 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, JPMorgan Chase & Co. lowered their price target on shares of 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 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, the stock presently has a consensus rating of "Hold" and a consensus price target of $94.09.

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.

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