Louisiana State Employees Retirement System Invests $1 Million in T. Rowe Price Group, Inc. $TROW

Louisiana State Employees Retirement System purchased a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 11,100 shares of the asset manager’s stock, valued at approximately $1,001,000.

Other institutional investors have also modified their holdings of the company. TD Private Client Wealth LLC boosted its stake in T. Rowe Price Group by 91.8% during the fourth quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock valued at $26,000 after buying an additional 123 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in T. Rowe Price Group by 540.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock worth $29,000 after acquiring an additional 238 shares in the last quarter. Canton Hathaway LLC acquired a new stake in T. Rowe Price Group in the 4th quarter valued at about $31,000. Sound Income Strategies LLC lifted its holdings in T. Rowe Price Group by 170.3% in the 4th quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 189 shares during the last quarter. Finally, DV Equities LLC bought a new position in shares of T. Rowe Price Group during the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on TROW shares. Jefferies Financial Group dropped their target price on shares of T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating on the stock in a report on Wednesday, April 8th. The Goldman Sachs Group upped their price target on T. Rowe Price Group from $90.00 to $92.00 and gave the company a “sell” rating in a report on Tuesday, June 30th. Weiss Ratings raised T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday. Morgan Stanley lifted their target price on shares of T. Rowe Price Group from $105.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Friday, June 26th. Finally, Evercore boosted their price target on shares of T. Rowe Price Group from $106.00 to $111.00 in a report on Monday, June 8th. Eleven equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $100.54.

T. Rowe Price Group Stock Performance

Shares of TROW opened at $118.55 on Friday. The company has a market capitalization of $25.40 billion, a PE ratio of 12.71, a PEG ratio of 6.02 and a beta of 1.47. The company’s 50 day moving average price is $105.76 and its 200 day moving average price is $100.36. T. Rowe Price Group, Inc. has a 52 week low of $85.22 and a 52 week high of $118.64.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.15. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same quarter last year, the business posted $2.23 EPS. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities analysts forecast that T. Rowe Price Group, Inc. will post 9.69 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 15th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $5.20 dividend on an annualized basis and a yield of 4.4%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 55.73%.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the company’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total value of $307,680.00. Following the transaction, the vice president directly owned 83,883 shares of the company’s stock, valued at $8,603,040.48. This represents a 3.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.60% of the stock is owned by company insiders.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.