New York State Common Retirement Fund Lowers Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

New York State Common Retirement Fund lessened its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 168,789 shares of the asset manager’s stock after selling 10,400 shares during the period. New York State Common Retirement Fund owned approximately 0.08% of T. Rowe Price Group worth $19,088,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Eastern Bank purchased a new position in T. Rowe Price Group in the third quarter valued at $54,000. Private Advisor Group LLC boosted its stake in shares of T. Rowe Price Group by 10.4% in the 3rd quarter. Private Advisor Group LLC now owns 12,060 shares of the asset manager’s stock valued at $1,314,000 after buying an additional 1,134 shares during the period. International Assets Investment Management LLC boosted its stake in shares of T. Rowe Price Group by 7,992.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,067,655 shares of the asset manager’s stock valued at $116,300,000 after buying an additional 1,054,461 shares during the period. Hennion & Walsh Asset Management Inc. boosted its stake in shares of T. Rowe Price Group by 3.4% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 12,986 shares of the asset manager’s stock valued at $1,415,000 after buying an additional 427 shares during the period. Finally, Ballentine Partners LLC purchased a new position in T. Rowe Price Group in the third quarter worth approximately $285,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TROW. JPMorgan Chase & Co. decreased their price target 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. Evercore ISI lifted their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. Deutsche Bank Aktiengesellschaft lifted their price target 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. Finally, Wells Fargo & Company decreased their price target on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat, T. Rowe Price Group currently has an average rating of “Hold” and a consensus target price of $115.09.

T. Rowe Price Group Stock Down 2.0 %

NASDAQ:TROW opened at $106.27 on Friday. The company has a market capitalization of $23.66 billion, a PE ratio of 11.60, a P/E/G ratio of 2.86 and a beta of 1.44. T. Rowe Price Group, Inc. has a 52-week low of $100.49 and a 52-week high of $125.81. The stock’s 50 day moving average price is $112.79 and its 200 day moving average price is $112.35.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. During the same period last year, the company earned $1.72 earnings per share. As a group, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a dividend of $1.27 per share. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 annualized dividend and a yield of 4.78%. The ex-dividend date of this dividend is Friday, March 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 54.15%.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Arif Husain sold 4,112 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value of $449,318.24. Following the completion of the sale, the vice president now directly owns 36,800 shares of the company’s stock, valued at approximately $4,021,136. This represents a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value of $499,197.45. Following the sale, the vice president now directly owns 119,577 shares of the company’s stock, valued at approximately $14,749,822.95. This represents a 3.27 % 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 company insiders.

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.