T. Rowe Price Group Inc (NASDAQ:TROW) Shares Bought by California Public Employees Retirement System

California Public Employees Retirement System grew its position in T. Rowe Price Group Inc (NASDAQ:TROW) by 0.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 660,783 shares of the asset manager’s stock after purchasing an additional 2,377 shares during the quarter. California Public Employees Retirement System owned approximately 0.27% of T. Rowe Price Group worth $71,345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. BlackRock Inc. lifted its holdings in shares of T. Rowe Price Group by 5.2% in the fourth quarter. BlackRock Inc. now owns 17,331,073 shares of the asset manager’s stock worth $1,818,551,000 after buying an additional 851,752 shares in the last quarter. Geode Capital Management LLC raised its stake in T. Rowe Price Group by 4.0% during the fourth quarter. Geode Capital Management LLC now owns 3,169,650 shares of the asset manager’s stock valued at $332,026,000 after purchasing an additional 121,905 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in T. Rowe Price Group by 19.0% during the first quarter. Schwab Charles Investment Management Inc. now owns 1,562,121 shares of the asset manager’s stock valued at $168,663,000 after purchasing an additional 249,772 shares in the last quarter. Provident Trust Co. raised its stake in T. Rowe Price Group by 1.1% during the first quarter. Provident Trust Co. now owns 1,561,712 shares of the asset manager’s stock valued at $168,618,000 after purchasing an additional 16,831 shares in the last quarter. Finally, KAMES CAPITAL plc raised its stake in T. Rowe Price Group by 15.4% during the first quarter. KAMES CAPITAL plc now owns 1,085,955 shares of the asset manager’s stock valued at $117,162,000 after purchasing an additional 144,851 shares in the last quarter. Institutional investors and hedge funds own 72.10% of the company’s stock.

A number of research firms recently issued reports on TROW. UBS Group decreased their price target on shares of T. Rowe Price Group from $125.00 to $117.00 and set a “neutral” rating on the stock in a research note on Thursday, May 24th. Jefferies Financial Group raised shares of T. Rowe Price Group from a “neutral” rating to a “hold” rating in a research note on Thursday, May 17th. Zacks Investment Research downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, March 12th. Deutsche Bank raised shares of T. Rowe Price Group from a “hold” rating to a “buy” rating and reduced their target price for the company from $121.00 to $114.00 in a research note on Wednesday, May 16th. Finally, Credit Suisse Group raised shares of T. Rowe Price Group from a “neutral” rating to an “outperform” rating and set a $123.00 target price on the stock in a research note on Wednesday, May 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $113.10.



In other news, CEO William J. Stromberg sold 21,000 shares of the company’s stock in a transaction dated Tuesday, June 12th. The shares were sold at an average price of $125.48, for a total value of $2,635,080.00. Following the transaction, the chief executive officer now directly owns 539,020 shares in the company, valued at $67,636,229.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP W. Sharps Robert sold 36,000 shares of the stock in a transaction dated Tuesday, June 12th. The stock was sold at an average price of $126.34, for a total transaction of $4,548,240.00. Following the transaction, the vice president now owns 487,917 shares in the company, valued at $61,643,433.78. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 62,000 shares of company stock worth $7,796,220. Company insiders own 3.10% of the company’s stock.

NASDAQ TROW opened at $123.66 on Friday. The stock has a market capitalization of $30.48 billion, a PE ratio of 22.77, a P/E/G ratio of 1.64 and a beta of 1.22. T. Rowe Price Group Inc has a 12 month low of $72.09 and a 12 month high of $127.43.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Wednesday, April 25th. The asset manager reported $1.74 EPS for the quarter, topping the Zacks’ consensus estimate of $1.65 by $0.09. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.28 billion. T. Rowe Price Group had a net margin of 31.10% and a return on equity of 26.93%. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.18 earnings per share. research analysts predict that T. Rowe Price Group Inc will post 7.01 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 15th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date is Thursday, June 14th. T. Rowe Price Group’s payout ratio is presently 51.57%.

T. Rowe Price Group announced that its board has approved a stock buyback plan on Thursday, April 26th that permits the company to buyback 10,000,000 shares. This buyback authorization permits the asset manager to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

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.

Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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