Kentucky Retirement Systems Insurance Trust Fund Cuts Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Kentucky Retirement Systems Insurance Trust Fund decreased its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 8.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,591 shares of the asset manager’s stock after selling 611 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in T. Rowe Price Group were worth $718,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TROW. International Assets Investment Management LLC boosted its holdings in T. Rowe Price Group by 7,992.0% in the third quarter. International Assets Investment Management LLC now owns 1,067,655 shares of the asset manager’s stock worth $116,300,000 after acquiring an additional 1,054,461 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of T. Rowe Price Group by 15.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager’s stock valued at $185,810,000 after purchasing an additional 220,105 shares during the last quarter. AQR Capital Management LLC boosted its stake in T. Rowe Price Group by 77.2% in the 2nd quarter. AQR Capital Management LLC now owns 451,237 shares of the asset manager’s stock worth $52,032,000 after purchasing an additional 196,565 shares in the last quarter. Burney Co. purchased a new stake in T. Rowe Price Group during the 2nd quarter worth approximately $20,938,000. Finally, Canada Pension Plan Investment Board increased its stake in T. Rowe Price Group by 1,328.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 162,010 shares of the asset manager’s stock valued at $18,681,000 after purchasing an additional 150,665 shares in the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on TROW shares. Wells Fargo & Company boosted their price objective on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. TD Cowen cut their price objective on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft lifted their target price on T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a report on Monday, November 11th. JPMorgan Chase & Co. decreased their price objective on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $120.00 price objective (down previously from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $115.55.

Insider Activity at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the sale, the insider now directly owns 13,939 shares in the company, valued at $1,459,831.47. This represents a 3.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the transaction, the vice president now owns 123,624 shares in the company, valued at $12,712,255.92. The trade was a 8.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Stock Down 0.1 %

Shares of T. Rowe Price Group stock opened at $118.66 on Tuesday. The firm has a market cap of $26.36 billion, a PE ratio of 12.98, a P/E/G ratio of 1.68 and a beta of 1.41. T. Rowe Price Group, Inc. has a twelve month low of $96.46 and a twelve month high of $122.27. The business has a 50-day moving average price of $111.07 and a 200 day moving average price of $112.25.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.21. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The business’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.17 EPS. On average, sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.33 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $1.24 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.18%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 54.27%.

T. Rowe Price Group 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.