T. Rowe Price Group Inc (NASDAQ:TROW) Stake Boosted by State Board of Administration of Florida Retirement System

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State Board of Administration of Florida Retirement System grew its stake in shares of T. Rowe Price Group Inc (NASDAQ:TROW) by 2.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 330,137 shares of the asset manager’s stock after purchasing an additional 8,322 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.15% of T. Rowe Price Group worth $40,772,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Beacon Financial Group grew its holdings in T. Rowe Price Group by 1.0% during the 2nd quarter. Beacon Financial Group now owns 8,118 shares of the asset manager’s stock worth $981,000 after acquiring an additional 77 shares during the period. Sawgrass Asset Management LLC lifted its holdings in shares of T. Rowe Price Group by 1.4% in the 2nd quarter. Sawgrass Asset Management LLC now owns 5,828 shares of the asset manager’s stock worth $720,000 after purchasing an additional 80 shares during the last quarter. Nicolet Bankshares Inc. lifted its holdings in shares of T. Rowe Price Group by 2.3% in the 2nd quarter. Nicolet Bankshares Inc. now owns 4,363 shares of the asset manager’s stock worth $539,000 after purchasing an additional 100 shares during the last quarter. Harvest Fund Management Co. Ltd lifted its holdings in shares of T. Rowe Price Group by 36.3% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 398 shares of the asset manager’s stock worth $38,000 after purchasing an additional 106 shares during the last quarter. Finally, GW Henssler & Associates Ltd. lifted its holdings in shares of T. Rowe Price Group by 3.4% in the 2nd quarter. GW Henssler & Associates Ltd. now owns 3,225 shares of the asset manager’s stock worth $398,000 after purchasing an additional 106 shares during the last quarter. 70.63% of the stock is owned by institutional investors.

Several brokerages recently issued reports on TROW. Credit Suisse Group raised their price target on T. Rowe Price Group from $135.00 to $147.00 in a report on Thursday, July 30th. Deutsche Bank increased their price target on shares of T. Rowe Price Group from $139.00 to $149.00 and gave the stock a “hold” rating in a report on Thursday, July 30th. BidaskClub lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday. Morgan Stanley increased their price target on shares of T. Rowe Price Group from $150.00 to $160.00 and gave the stock an “equal weight” rating in a report on Friday, July 31st. Finally, ValuEngine lowered shares of T. Rowe Price Group from a “hold” rating to a “sell” rating in a report on Thursday, July 2nd. Four analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $119.17.

In related news, VP Andrew C. Mccormick sold 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $139.05, for a total transaction of $486,675.00. Also, Director Robert F. Maclellan sold 10,500 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $136.45, for a total value of $1,432,725.00. Following the sale, the director now owns 21,656 shares of the company’s stock, valued at approximately $2,954,961.20. The disclosure for this sale can be found here. Insiders sold a total of 122,500 shares of company stock valued at $16,471,375 in the last quarter. Company insiders own 1.00% of the company’s stock.

Shares of TROW traded down $1.52 during midday trading on Friday, reaching $134.78. The company had a trading volume of 11,654 shares, compared to its average volume of 1,032,674. T. Rowe Price Group Inc has a 1-year low of $82.51 and a 1-year high of $142.51. The stock has a market cap of $31.13 billion, a PE ratio of 16.17, a price-to-earnings-growth ratio of 2.06 and a beta of 1.18. The firm has a 50 day simple moving average of $133.12 and a 200-day simple moving average of $120.42. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 0.02.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Wednesday, July 29th. The asset manager reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.25. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.41 billion. T. Rowe Price Group had a return on equity of 29.65% and a net margin of 35.05%. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period last year, the company earned $2.03 EPS. As a group, sell-side analysts anticipate that T. Rowe Price Group Inc will post 8.5 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend is Monday, September 14th. T. Rowe Price Group’s payout ratio is presently 44.61%.

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.

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

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