State of New Jersey Common Pension Fund D Cuts Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

State of New Jersey Common Pension Fund D reduced its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,183 shares of the asset manager’s stock after selling 1,200 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in T. Rowe Price Group were worth $8,408,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Sigma Planning Corp grew its holdings in shares of T. Rowe Price Group by 9.1% in the third quarter. Sigma Planning Corp now owns 13,676 shares of the asset manager’s stock valued at $1,490,000 after purchasing an additional 1,140 shares in the last quarter. Atria Investments Inc boosted its position in T. Rowe Price Group by 7.0% in the 3rd quarter. Atria Investments Inc now owns 6,103 shares of the asset manager’s stock valued at $665,000 after buying an additional 400 shares during the period. Essex Savings Bank grew its stake in shares of T. Rowe Price Group by 33.3% in the third quarter. Essex Savings Bank now owns 2,996 shares of the asset manager’s stock worth $326,000 after acquiring an additional 749 shares in the last quarter. TCTC Holdings LLC increased its position in shares of T. Rowe Price Group by 1.9% during the third quarter. TCTC Holdings LLC now owns 57,978 shares of the asset manager’s stock worth $6,316,000 after acquiring an additional 1,055 shares during the period. Finally, Assetmark Inc. raised its stake in shares of T. Rowe Price Group by 2.5% in the third quarter. Assetmark Inc. now owns 481,238 shares of the asset manager’s stock valued at $52,421,000 after acquiring an additional 11,945 shares in the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on TROW. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $120.00 target price (down from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft boosted their price objective on T. Rowe Price Group from $113.00 to $115.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. reduced their target price on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Barclays lifted their price target on shares of T. Rowe Price Group from $101.00 to $110.00 and gave the stock an “underweight” rating in a research note on Monday, November 4th. Finally, Evercore ISI increased their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research report on Thursday. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $115.09.

Insider Buying and Selling

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the sale, the insider now owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $102.83, for a total value of $1,230,772.27. Following the sale, the vice president now owns 123,624 shares in the company, valued at $12,712,255.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the transaction, the insider now owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Price Performance

NASDAQ TROW opened at $117.62 on Monday. The company has a market capitalization of $26.13 billion, a PE ratio of 12.87, a P/E/G ratio of 1.71 and a beta of 1.41. T. Rowe Price Group, Inc. has a 1 year low of $90.02 and a 1 year high of $122.27. The company has a fifty day moving average of $109.33 and a two-hundred day moving average of $111.92.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.21. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period last year, the firm posted $2.17 earnings per share. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, research analysts expect that T. Rowe Price Group, Inc. will post 9.32 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a $1.24 dividend. The ex-dividend date is Friday, December 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.22%. T. Rowe Price Group’s dividend payout ratio is currently 54.27%.

T. Rowe Price Group Company 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.