State of New Jersey Common Pension Fund D Sells 965 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

State of New Jersey Common Pension Fund D trimmed its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 76,218 shares of the asset manager’s stock after selling 965 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in T. Rowe Price Group were worth $8,619,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Exchange Traded Concepts LLC bought a new position in shares of T. Rowe Price Group during the 3rd quarter worth approximately $105,000. Creative Planning boosted its stake in shares of T. Rowe Price Group by 0.3% during the 3rd quarter. Creative Planning now owns 55,324 shares of the asset manager’s stock worth $6,026,000 after acquiring an additional 177 shares during the period. Bleakley Financial Group LLC boosted its stake in shares of T. Rowe Price Group by 28.8% during the 3rd quarter. Bleakley Financial Group LLC now owns 3,821 shares of the asset manager’s stock worth $416,000 after acquiring an additional 854 shares during the period. Blue Trust Inc. boosted its stake in shares of T. Rowe Price Group by 302.3% during the 3rd quarter. Blue Trust Inc. now owns 2,615 shares of the asset manager’s stock worth $301,000 after acquiring an additional 1,965 shares during the period. Finally, Eastern Bank bought a new position in shares of T. Rowe Price Group during the 3rd quarter worth approximately $54,000. 73.39% of the stock is currently owned by institutional investors.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total value of $499,197.45. Following the sale, the vice president now owns 119,577 shares in the company, valued at approximately $14,749,822.95. The trade was a 3.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Arif Husain sold 4,112 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value of $449,318.24. Following the sale, the vice president now owns 36,800 shares in the company, valued at approximately $4,021,136. The trade was a 10.05 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock opened at $107.88 on Wednesday. T. Rowe Price Group, Inc. has a 52 week low of $100.49 and a 52 week high of $125.81. The stock has a market capitalization of $23.97 billion, a P/E ratio of 11.78, a price-to-earnings-growth ratio of 1.70 and a beta of 1.44. The stock has a fifty day moving average of $113.88 and a 200-day moving average of $112.31.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.61%. During the same period in the prior year, the business posted $1.72 EPS. On average, research analysts forecast that T. Rowe Price Group, Inc. will post 9.36 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.71%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s payout ratio is 54.15%.

Analyst Upgrades and Downgrades

TROW has been the subject of several research analyst reports. TD Cowen reduced their target price on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Evercore ISI lifted their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Barclays dropped their price target on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $115.09.

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.