New York State Common Retirement Fund Sells 17,692 Shares of T. Rowe Price Group, Inc. $TROW

New York State Common Retirement Fund trimmed its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 6.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 246,299 shares of the asset manager’s stock after selling 17,692 shares during the quarter. New York State Common Retirement Fund owned 0.11% of T. Rowe Price Group worth $25,280,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TROW. TD Waterhouse Canada Inc. raised its position in T. Rowe Price Group by 66.7% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock worth $25,000 after purchasing an additional 100 shares during the last quarter. Root Financial Partners LLC bought a new position in shares of T. Rowe Price Group during the third quarter worth about $30,000. Vermillion & White Wealth Management Group LLC lifted 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 acquiring an additional 174 shares during the period. Salomon & Ludwin LLC boosted its holdings in T. Rowe Price Group by 84.3% in the third quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager’s stock valued at $33,000 after acquiring an additional 145 shares during the last quarter. Finally, Atlantic Union Bankshares Corp bought a new stake in T. Rowe Price Group in the second quarter valued at approximately $35,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of T. Rowe Price Group in a research report on Monday, December 29th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of T. Rowe Price Group from $113.00 to $106.00 and set a “hold” rating on the stock in a report on Wednesday, December 17th. BMO Capital Markets increased their price target on T. Rowe Price Group from $108.00 to $110.00 and gave the stock a “market perform” rating in a report on Tuesday, January 13th. The Goldman Sachs Group dropped their price objective on T. Rowe Price Group from $97.00 to $95.00 and set a “sell” rating on the stock in a research note on Wednesday, January 14th. Finally, Keefe, Bruyette & Woods cut their target price on T. Rowe Price Group from $117.00 to $115.00 and set a “market perform” rating on the stock in a research report on Tuesday, December 16th. Eleven equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $107.31.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock opened at $105.68 on Friday. The stock has a market capitalization of $23.06 billion, a PE ratio of 11.51, a price-to-earnings-growth ratio of 2.54 and a beta of 1.52. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $118.32. The stock has a 50 day moving average price of $104.67 and a two-hundred day moving average price of $104.68.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.55 by $0.26. T. Rowe Price Group had a return on equity of 19.95% and a net margin of 28.89%.The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same period last year, the business earned $2.57 EPS. T. Rowe Price Group’s quarterly revenue was up 6.0% compared to the same quarter last year. Research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Arif Husain sold 4,260 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total value of $434,349.60. Following the transaction, the vice president owned 47,102 shares of the company’s stock, valued at approximately $4,802,519.92. This trade represents a 8.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is owned by corporate insiders.

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.