California State Teachers Retirement System Sells 4,969 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

California State Teachers Retirement System lessened its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW – Get Rating) by 1.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 373,617 shares of the asset manager’s stock after selling 4,969 shares during the quarter. California State Teachers Retirement System’s holdings in T. Rowe Price Group were worth $39,234,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position in T. Rowe Price Group by 18.6% during the third quarter. Vanguard Group Inc. now owns 24,169,568 shares of the asset manager’s stock worth $2,538,046,000 after acquiring an additional 3,786,970 shares during the last quarter. State Street Corp boosted its stake in T. Rowe Price Group by 11.4% in the 3rd quarter. State Street Corp now owns 14,270,631 shares of the asset manager’s stock valued at $1,498,559,000 after purchasing an additional 1,458,948 shares during the period. Brown Advisory Inc. grew its holdings in T. Rowe Price Group by 154.7% in the 2nd quarter. Brown Advisory Inc. now owns 1,673,700 shares of the asset manager’s stock valued at $190,149,000 after buying an additional 1,016,464 shares in the last quarter. Balyasny Asset Management LLC increased its position in T. Rowe Price Group by 5,811.2% during the 3rd quarter. Balyasny Asset Management LLC now owns 804,933 shares of the asset manager’s stock worth $84,526,000 after buying an additional 791,316 shares during the period. Finally, Millennium Management LLC lifted its holdings in shares of T. Rowe Price Group by 4,718.6% during the second quarter. Millennium Management LLC now owns 646,171 shares of the asset manager’s stock worth $73,411,000 after buying an additional 632,761 shares in the last quarter. Institutional investors own 76.58% of the company’s stock.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction dated Tuesday, February 21st. The stock was sold at an average price of $114.52, for a total value of $1,370,689.88. Following the completion of the transaction, the vice president now directly owns 129,436 shares in the company, valued at $14,823,010.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Andrew C. Mccormick sold 14,154 shares of the firm’s stock in a transaction on Friday, February 10th. The stock was sold at an average price of $116.73, for a total transaction of $1,652,196.42. Following the completion of the transaction, the vice president now directly owns 70,319 shares of the company’s stock, valued at approximately $8,208,336.87. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $114.52, for a total value of $1,370,689.88. Following the completion of the sale, the vice president now owns 129,436 shares in the company, valued at approximately $14,823,010.72. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. BMO Capital Markets decreased their price target on shares of T. Rowe Price Group from $105.00 to $90.00 and set a “market perform” rating on the stock in a research note on Friday, January 27th. Morgan Stanley dropped their price target on shares of T. Rowe Price Group from $108.00 to $102.00 and set an “equal weight” rating for the company in a research report on Monday, January 30th. JPMorgan Chase & Co. reduced their price target on T. Rowe Price Group from $96.00 to $95.00 and set an “underweight” rating on the stock in a research report on Friday, January 27th. Deutsche Bank Aktiengesellschaft cut their target price on T. Rowe Price Group from $121.00 to $113.00 and set a “hold” rating for the company in a research report on Friday, January 27th. Finally, TheStreet cut T. Rowe Price Group from a “b-” rating to a “c” rating in a research report on Thursday, January 26th. Five research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $100.30.

T. Rowe Price Group Trading Up 0.0 %

TROW stock opened at $108.17 on Friday. The firm has a 50-day moving average price of $115.72 and a 200-day moving average price of $114.20. T. Rowe Price Group, Inc. has a 12 month low of $93.53 and a 12 month high of $157.77. The stock has a market capitalization of $24.27 billion, a P/E ratio of 16.17, a price-to-earnings-growth ratio of 2.68 and a beta of 1.30.

T. Rowe Price Group (NASDAQ:TROW – Get Rating) last issued its quarterly earnings data on Thursday, January 26th. The asset manager reported $1.74 EPS for the quarter, beating the consensus estimate of $1.72 by $0.02. T. Rowe Price Group had a net margin of 24.01% and a return on equity of 20.36%. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the prior year, the firm earned $3.17 EPS. The firm’s revenue was down 21.4% compared to the same quarter last year. As a group, equities analysts predict that T. Rowe Price Group, Inc. will post 6.64 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 30th. Investors of record on Wednesday, March 15th will be issued a dividend of $1.22 per share. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.20. The ex-dividend date is Tuesday, March 14th. This represents a $4.88 annualized dividend and a dividend yield of 4.51%. T. Rowe Price Group’s dividend payout ratio (DPR) is 72.94%.

About T. Rowe Price Group

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T. Rowe Price Group, Inc engages in the provision of investment management services. The company was founded by Thomas Rowe Price Jr. in 1937 and is headquartered in Baltimore, MD.