California Public Employees Retirement System Has $37.94 Million Stock Holdings in T. Rowe Price Group, Inc. $TROW

California Public Employees Retirement System raised its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 420,848 shares of the asset manager’s stock after buying an additional 19,057 shares during the quarter. California Public Employees Retirement System’s holdings in T. Rowe Price Group were worth $37,935,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. TD Private Client Wealth LLC boosted its position in shares of T. Rowe Price Group by 91.8% in the fourth quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 123 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its stake in T. Rowe Price Group by 540.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 238 shares during the last quarter. Canton Hathaway LLC bought a new stake in T. Rowe Price Group in the 4th quarter valued at $31,000. Sound Income Strategies LLC grew its position 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 worth $32,000 after purchasing an additional 189 shares during the last quarter. Finally, DV Equities LLC acquired a new stake in T. Rowe Price Group in the 4th quarter worth $32,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Stock Down 0.7%

Shares of TROW stock opened at $116.49 on Tuesday. The company has a market capitalization of $24.96 billion, a P/E ratio of 12.49, a P/E/G ratio of 4.23 and a beta of 1.47. T. Rowe Price Group, Inc. has a 12-month low of $85.22 and a 12-month high of $121.17. The firm has a 50-day moving average price of $109.08 and a 200 day moving average price of $101.39.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, topping the consensus estimate 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 earnings per share. The company’s revenue was up 5.3% on a year-over-year basis. As a group, research analysts expect that T. Rowe Price Group, Inc. will post 10.07 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared 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 was Monday, June 15th. This represents a $5.20 dividend on an annualized basis and a yield of 4.5%. T. Rowe Price Group’s dividend payout ratio is 55.73%.

Analyst Upgrades and Downgrades

TROW has been the topic of several research reports. Keefe, Bruyette & Woods boosted their price objective on shares of T. Rowe Price Group from $107.00 to $120.00 and gave the stock a “market perform” rating in a report on Friday, July 10th. Morgan Stanley increased their target price on shares of T. Rowe Price Group from $105.00 to $109.00 and gave the company an “equal weight” rating in a research note on Friday, June 26th. TD Cowen decreased their target price on T. Rowe Price Group from $108.00 to $107.00 and set a “hold” rating on the stock in a research report on Monday. Barclays boosted their price target on T. Rowe Price Group from $89.00 to $108.00 and gave the company an “underweight” rating in a research note on Tuesday, July 14th. Finally, Jefferies Financial Group cut their price target on T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating for the company in a report on Wednesday, April 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $104.50.

Insiders Place Their Bets

In related news, VP Stephon A. Jackson sold 3,000 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total transaction of $307,680.00. Following the completion of the sale, the vice president directly owned 83,883 shares of the company’s stock, valued at $8,603,040.48. This trade represents a 3.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.60% of the stock is owned by corporate 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.