Texas Permanent School Fund Corp Buys 266 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Texas Permanent School Fund Corp increased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.5% in the 1st quarter, HoldingsChannel reports. The firm owned 51,560 shares of the asset manager’s stock after acquiring an additional 266 shares during the quarter. Texas Permanent School Fund Corp’s holdings in T. Rowe Price Group were worth $6,286,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Creative Financial Designs Inc. ADV lifted its holdings in shares of T. Rowe Price Group by 83.5% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock worth $25,000 after acquiring an additional 106 shares during the period. First United Bank & Trust acquired a new stake in shares of T. Rowe Price Group in the 4th quarter valued at $31,000. Park Place Capital Corp increased its stake in shares of T. Rowe Price Group by 1,775.0% in the 4th quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 284 shares during the last quarter. Fortitude Family Office LLC bought a new position in shares of T. Rowe Price Group in the 4th quarter valued at $33,000. Finally, CVA Family Office LLC bought a new stake in shares of T. Rowe Price Group during the 4th quarter worth $39,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Stock Performance

Shares of TROW stock traded up $1.09 on Friday, hitting $118.26. The company had a trading volume of 52,646 shares, compared to its average volume of 1,304,067. T. Rowe Price Group, Inc. has a twelve month low of $87.43 and a twelve month high of $132.76. The firm has a market cap of $26.41 billion, a P/E ratio of 13.92, a P/E/G ratio of 1.96 and a beta of 1.42. The stock’s 50-day moving average is $115.72 and its two-hundred day moving average is $113.35.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.34. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.71 billion. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The company’s revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.69 EPS. Equities research analysts predict that T. Rowe Price Group, Inc. will post 8.93 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Friday, June 14th were issued a $1.24 dividend. The ex-dividend date was Friday, June 14th. This represents a $4.96 annualized dividend and a yield of 4.19%. T. Rowe Price Group’s payout ratio is 58.91%.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total value of $234,000.00. Following the completion of the sale, the vice president now directly owns 34,710 shares in the company, valued at $4,061,070. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total transaction of $234,000.00. Following the transaction, the vice president now directly owns 34,710 shares of the company’s stock, valued at $4,061,070. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jessica M. Hiebler sold 1,401 shares of T. Rowe Price Group stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $115.85, for a total transaction of $162,305.85. Following the completion of the sale, the insider now directly owns 14,198 shares of the company’s stock, valued at $1,644,838.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,444 shares of company stock valued at $740,408. 2.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have issued reports on TROW. UBS Group lifted their target price on T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research report on Friday, April 12th. StockNews.com upgraded shares of T. Rowe Price Group from a “hold” rating to a “buy” rating in a research report on Wednesday. Citigroup raised their target price on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Morgan Stanley upped their price target on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 17th. Finally, Keefe, Bruyette & Woods raised their price objective on T. Rowe Price Group from $120.00 to $121.00 and gave the company a “market perform” rating in a report on Friday. Four analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, T. Rowe Price Group presently has an average rating of “Hold” and a consensus target price of $113.10.

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.