Strs Ohio Makes New Investment in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Strs Ohio acquired a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 10,328 shares of the asset manager’s stock, valued at approximately $1,112,000.

A number of other hedge funds have also modified their holdings of TROW. International Assets Investment Management LLC grew its holdings in shares of T. Rowe Price Group by 8,968.6% during the fourth quarter. International Assets Investment Management LLC now owns 902,146 shares of the asset manager’s stock worth $97,152,000 after buying an additional 892,198 shares in the last quarter. Qube Research & Technologies Ltd bought a new position in shares of T. Rowe Price Group during the third quarter worth about $21,114,000. Robeco Institutional Asset Management B.V. grew its holdings in shares of T. Rowe Price Group by 282.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 201,435 shares of the asset manager’s stock worth $21,124,000 after buying an additional 148,787 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of T. Rowe Price Group by 2.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,900,101 shares of the asset manager’s stock worth $513,874,000 after buying an additional 134,839 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of T. Rowe Price Group by 7.6% during the third quarter. Invesco Ltd. now owns 1,684,057 shares of the asset manager’s stock worth $176,607,000 after buying an additional 119,305 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Jessica M. Hiebler sold 1,138 shares of T. Rowe Price Group stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $107.13, for a total transaction of $121,913.94. Following the completion of the sale, the insider now directly owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,138 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $107.13, for a total transaction of $121,913.94. Following the transaction, the insider now owns 14,113 shares in the company, valued at approximately $1,511,925.69. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $118.32, for a total value of $1,034,116.80. Following the transaction, the director now owns 21,073 shares in the company, valued at approximately $2,493,357.36. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

T. Rowe Price Group Stock Up 0.4 %

TROW opened at $111.94 on Wednesday. The stock has a market cap of $25.03 billion, a price-to-earnings ratio of 14.43, a PEG ratio of 2.09 and a beta of 1.40. The business has a 50 day moving average of $114.89 and a 200-day moving average of $106.95. T. Rowe Price Group, Inc. has a 12-month low of $87.43 and a 12-month high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Thursday, February 8th. The asset manager reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.12. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. T. Rowe Price Group had a return on equity of 18.41% and a net margin of 27.69%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the firm posted $1.74 EPS. As a group, analysts expect that T. Rowe Price Group, Inc. will post 8.36 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a dividend of $1.24 per share. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.22. This represents a $4.96 annualized dividend and a yield of 4.43%. The ex-dividend date of this dividend was Thursday, March 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 63.92%.

Analysts Set New Price Targets

TROW has been the subject of several recent research reports. TD Cowen raised T. Rowe Price Group from a “sell” rating to a “hold” rating and increased their price target for the company from $92.00 to $114.00 in a research report on Monday, April 8th. UBS Group increased their price target on T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research report on Friday, April 12th. Morgan Stanley increased their price target on T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 17th. Keefe, Bruyette & Woods raised T. Rowe Price Group from an “underperform” rating to a “market perform” rating and increased their price target for the company from $106.00 to $120.00 in a research report on Thursday, April 11th. Finally, Citigroup increased their price target on T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Four research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $112.67.

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.