State of New Jersey Common Pension Fund D Has $13.13 Million Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

State of New Jersey Common Pension Fund D decreased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 121,890 shares of the asset manager’s stock after selling 4,596 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.05% of T. Rowe Price Group worth $13,126,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. OFI Invest Asset Management purchased a new stake in shares of T. Rowe Price Group in the third quarter valued at about $25,000. Creative Financial Designs Inc. ADV increased its holdings in T. Rowe Price Group by 83.5% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock worth $25,000 after buying an additional 106 shares during the last quarter. Park Place Capital Corp increased its holdings in T. Rowe Price Group by 1,775.0% during the fourth quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock worth $32,000 after buying an additional 284 shares during the last quarter. Fortitude Family Office LLC purchased a new stake in T. Rowe Price Group during the fourth quarter worth about $33,000. Finally, NBC Securities Inc. purchased a new stake in T. Rowe Price Group during the third quarter worth about $39,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on TROW shares. UBS Group raised their price objective on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a report on Friday, April 12th. TD Cowen upgraded shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and increased their target price for the stock from $92.00 to $114.00 in a research report on Monday, April 8th. Keefe, Bruyette & Woods upgraded shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and increased their target price for the stock from $106.00 to $120.00 in a research report on Thursday, April 11th. JPMorgan Chase & Co. increased their target price on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 16th. Finally, Citigroup increased their target price on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Four research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat, T. Rowe Price Group has a consensus rating of “Hold” and a consensus target price of $112.67.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,138 shares of T. Rowe Price Group stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $107.13, for a total transaction of $121,913.94. Following the completion of the sale, the insider now directly owns 14,113 shares in the company, valued at $1,511,925.69. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,138 shares of T. Rowe Price Group stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $107.13, for a total transaction of $121,913.94. Following the transaction, the insider now directly owns 14,113 shares of the company’s stock, valued at $1,511,925.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Freeman A. Hrabowski III sold 8,740 shares of T. Rowe Price Group stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the transaction, the director now directly owns 21,073 shares in the company, valued at $2,493,357.36. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

T. Rowe Price Group Trading Down 2.0 %

Shares of TROW stock traded down $2.23 during trading hours on Thursday, reaching $108.83. The stock had a trading volume of 2,161,391 shares, compared to its average volume of 1,424,685. The stock’s fifty day simple moving average is $114.98 and its 200 day simple moving average is $106.98. T. Rowe Price Group, Inc. has a 12 month low of $87.43 and a 12 month high of $132.76. The firm has a market capitalization of $24.34 billion, a PE ratio of 14.02, a PEG ratio of 2.10 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Thursday, February 8th. The asset manager reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.12. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.41%. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same period last year, the business earned $1.74 earnings per share. T. Rowe Price Group’s revenue was up 6.5% compared to the same quarter last year. As a group, equities research analysts anticipate that T. Rowe Price Group, Inc. will post 8.36 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a dividend of $1.24 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.22. This represents a $4.96 annualized dividend and a yield of 4.56%. T. Rowe Price Group’s payout ratio is presently 63.92%.

T. Rowe Price Group Profile

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.