Illinois Municipal Retirement Fund Purchases 24,567 Shares of T. Rowe Price Group, Inc. $TROW

Illinois Municipal Retirement Fund lifted its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 32.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 100,907 shares of the asset manager’s stock after acquiring an additional 24,567 shares during the period. Illinois Municipal Retirement Fund’s holdings in T. Rowe Price Group were worth $10,357,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in TROW. TD Waterhouse Canada Inc. raised its holdings in T. Rowe Price Group by 66.7% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock worth $25,000 after acquiring an additional 100 shares during the last quarter. Root Financial Partners LLC bought a new stake in shares of T. Rowe Price Group in the 3rd quarter worth $30,000. Vermillion & White Wealth Management Group LLC raised its stake in shares of T. Rowe Price Group by 120.0% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock worth $31,000 after purchasing an additional 174 shares during the last quarter. Salomon & Ludwin LLC lifted its holdings in shares of T. Rowe Price Group by 84.3% during the third quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager’s stock valued at $33,000 after purchasing an additional 145 shares in the last quarter. Finally, Atlantic Union Bankshares Corp bought a new position in shares of T. Rowe Price Group during the second quarter valued at $35,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. TD Cowen decreased their target price on T. Rowe Price Group from $109.00 to $97.00 and set a “hold” rating for the company in a research report on Thursday, February 5th. BMO Capital Markets reduced their price target on shares of T. Rowe Price Group from $110.00 to $104.00 and set a “market perform” rating for the company in a research note on Thursday. JPMorgan Chase & Co. lowered their price objective on shares of T. Rowe Price Group from $108.00 to $106.00 and set an “underweight” rating on the stock in a research report on Thursday, February 5th. Argus upgraded shares of T. Rowe Price Group to a “hold” rating in a report on Thursday, February 5th. Finally, Evercore ISI decreased their target price on shares of T. Rowe Price Group from $116.00 to $106.00 in a research note on Thursday, February 5th. Twelve equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $102.50.

Insider Activity at T. Rowe Price Group

In other news, VP Arif Husain sold 4,260 shares of T. Rowe Price Group stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $101.96, for a total transaction of $434,349.60. Following the transaction, the vice president directly owned 47,102 shares of the company’s stock, valued at $4,802,519.92. The trade was a 8.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.00% of the stock is owned by company insiders.

T. Rowe Price Group Trading Down 0.7%

Shares of TROW stock opened at $93.16 on Friday. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $118.22. The stock has a market cap of $20.33 billion, a P/E ratio of 10.07, a P/E/G ratio of 4.84 and a beta of 1.53. The company has a 50 day simple moving average of $103.66 and a two-hundred day simple moving average of $104.12.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Wednesday, February 4th. The asset manager reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.47 by ($0.03). The business had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.92 billion. T. Rowe Price Group had a return on equity of 20.36% and a net margin of 28.53%.The company’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.12 EPS. As a group, equities analysts forecast that T. Rowe Price Group, Inc. will post 9.29 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 Monday, March 30th. Shareholders of record on Monday, March 16th will be given a $1.30 dividend. The ex-dividend date is Monday, March 16th. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.27. This represents a $5.20 dividend on an annualized basis and a yield of 5.6%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 54.92%.

T. Rowe Price Group Profile

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.