Retirement Systems of Alabama Sells 1,464 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Retirement Systems of Alabama lowered its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,251 shares of the asset manager’s stock after selling 1,464 shares during the period. Retirement Systems of Alabama’s holdings in T. Rowe Price Group were worth $5,304,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position in shares of T. Rowe Price Group by 2.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,900,101 shares of the asset manager’s stock valued at $513,874,000 after acquiring an additional 134,839 shares in the last quarter. Morgan Stanley grew its position in T. Rowe Price Group by 0.7% in the 3rd quarter. Morgan Stanley now owns 3,483,350 shares of the asset manager’s stock worth $365,299,000 after purchasing an additional 25,012 shares during the period. Northern Trust Corp grew its position in T. Rowe Price Group by 4.1% in the 3rd quarter. Northern Trust Corp now owns 2,356,132 shares of the asset manager’s stock worth $247,088,000 after purchasing an additional 93,829 shares during the period. Invesco Ltd. grew its position in T. Rowe Price Group by 7.6% in the 3rd quarter. Invesco Ltd. now owns 1,684,057 shares of the asset manager’s stock worth $176,607,000 after purchasing an additional 119,305 shares during the period. Finally, Stifel Financial Corp grew its position in T. Rowe Price Group by 1.9% in the 3rd quarter. Stifel Financial Corp now owns 1,285,278 shares of the asset manager’s stock worth $134,790,000 after purchasing an additional 24,413 shares during the period. Institutional investors own 73.39% of the company’s stock.

Wall Street Analyst Weigh In

TROW has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their target price on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the stock an “underweight” rating in a research report on Friday, February 9th. Citigroup lifted 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. TD Cowen raised shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and boosted their price objective for the company from $92.00 to $114.00 in a research report on Monday, April 8th. UBS Group boosted their price objective on shares of 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. Finally, JPMorgan Chase & Co. boosted their price objective on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a research report on Tuesday, April 16th. Four equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat, T. Rowe Price Group currently has a consensus rating of “Hold” and a consensus price target of $112.10.

Insiders Place Their Bets

In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 8,740 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $118.32, for a total value of $1,034,116.80. Following the sale, the director now owns 21,073 shares in the company, valued at approximately $2,493,357.36. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Freeman A. Hrabowski III sold 8,740 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the sale, the director now directly owns 21,073 shares in the company, valued at approximately $2,493,357.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jessica M. Hiebler sold 1,138 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $107.13, for a total transaction of $121,913.94. Following the sale, the insider now owns 14,113 shares in the company, valued at $1,511,925.69. The disclosure for this sale can be found here. Insiders have sold a total of 12,921 shares of company stock worth $1,500,133 in the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Stock Performance

TROW opened at $111.50 on Monday. T. Rowe Price Group, Inc. has a fifty-two week low of $87.43 and a fifty-two week high of $132.76. The firm’s fifty day moving average is $115.20 and its 200 day moving average is $107.47. The stock has a market cap of $24.90 billion, a price-to-earnings ratio of 13.24, a price-to-earnings-growth ratio of 1.93 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.34. The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.71 billion. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. T. Rowe Price Group’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.69 EPS. On average, equities research analysts predict that T. Rowe Price Group, Inc. will post 8.75 earnings per share for the current year.

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.