Public Employees Retirement System of Ohio Invests $11.37 Million in T. Rowe Price Group, Inc. $TROW

Public Employees Retirement System of Ohio acquired a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 99,976 shares of the asset manager’s stock, valued at approximately $11,366,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. TD Private Client Wealth LLC increased its holdings in T. Rowe Price Group by 91.8% during the 4th quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock worth $26,000 after purchasing an additional 123 shares in the last quarter. DV Equities LLC purchased a new position in shares of T. Rowe Price Group in the 4th quarter worth approximately $32,000. Motiv8 Investments LLC purchased a new position in shares of T. Rowe Price Group in the 4th quarter worth approximately $35,000. Bank & Trust Co grew its holdings in shares of T. Rowe Price Group by 52.4% in the second quarter. Bank & Trust Co now owns 314 shares of the asset manager’s stock valued at $36,000 after acquiring an additional 108 shares in the last quarter. Finally, Keating Financial Advisory Services Inc. bought a new position in shares of T. Rowe Price Group in the second quarter valued at approximately $39,000. 73.39% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Joshua B. Nelson sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $111.82, for a total value of $1,118,200.00. Following the sale, the vice president owned 71,328 shares of the company’s stock, valued at $7,975,896.96. The trade was a 12.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently commented on the company. BMO Capital Markets lifted their price target on T. Rowe Price Group from $110.00 to $120.00 and gave the stock a “market perform” rating in a report on Monday, August 3rd. Evercore set a $118.00 target price on T. Rowe Price Group in a research note on Monday, August 10th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $115.00 price target (down from $120.00) on shares of T. Rowe Price Group in a report on Monday, August 3rd. TD Cowen increased their price target on shares of T. Rowe Price Group from $107.00 to $108.00 and gave the company a “hold” rating in a research report on Monday, August 3rd. Finally, Weiss Ratings upgraded shares of T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. Ten analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, T. Rowe Price Group presently has a consensus rating of “Reduce” and an average target price of $105.67.

T. Rowe Price Group Price Performance

Shares of TROW opened at $111.24 on Monday. The firm has a market cap of $23.73 billion, a PE ratio of 11.16, a PEG ratio of 3.68 and a beta of 1.47. T. Rowe Price Group, Inc. has a 1 year low of $85.22 and a 1 year high of $122.00. The stock’s fifty day moving average price is $114.35 and its two-hundred day moving average price is $103.40.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, July 31st. The asset manager reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.05. The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.89 billion. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.24 EPS. Sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 10.15 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be paid a $1.30 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $5.20 annualized dividend and a dividend yield of 4.7%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 52.16%.

T. Rowe Price Group Company Profile

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.