Louisiana State Employees Retirement System Purchases New Position in T. Rowe Price Group, Inc. (NASDAQ:TROW) (2024)

Louisiana State Employees Retirement System purchased a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW – Free Report) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 13,500 shares of the asset manager’s stock, valued at approximately $1,454,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fairfield Bush & CO. bought a new stake in shares of T. Rowe Price Group in the 1st quarter valued at approximately $150,000. Roundview Capital LLC bought a new stake in shares of T. Rowe Price Group in the 1st quarter valued at approximately $2,092,000. Cibc World Market Inc. lifted its stake in shares of T. Rowe Price Group by 75.9% in the 1st quarter. Cibc World Market Inc. now owns 27,065 shares of the asset manager’s stock valued at $4,092,000 after purchasing an additional 11,675 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of T. Rowe Price Group by 5.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,158,038 shares of the asset manager’s stock valued at $175,099,000 after purchasing an additional 60,580 shares during the last quarter. Finally, Prudential PLC lifted its stake in shares of T. Rowe Price Group by 47.1% in the 1st quarter. Prudential PLC now owns 12,117 shares of the asset manager’s stock valued at $1,832,000 after purchasing an additional 3,880 shares during the last quarter. 73.39% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,138 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $107.13, for a total transaction of $121,913.94. Following the transaction, the insider now directly owns 14,113 shares in the company, valued at approximately $1,511,925.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Jessica M. Hiebler sold 1,138 shares of T. Rowe Price Group stock in a transaction on Friday, February 9th. The stock was sold at an average price of $107.13, for a total value of $121,913.94. Following the transaction, the insider now directly owns 14,113 shares in the company, valued at approximately $1,511,925.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Freeman A. Hrabowski III sold 8,740 shares of T. Rowe Price Group 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 completion of the transaction, the director now owns 21,073 shares in the company, valued at $2,493,357.36. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Citigroup raised their price objective on T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. UBS Group raised their price objective on T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research note on Friday, April 12th. JPMorgan Chase & Co. increased their price target on T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Finally, Wells Fargo & Company increased their price target on T. Rowe Price Group from $105.00 to $108.00 and gave the stock an “underweight” rating in a report on Friday, February 9th. Four research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $112.67.

Get Our Latest Stock Report on T. Rowe Price Group

T. Rowe Price Group Stock Up 0.0 %

TROW opened at $108.73 on Friday. The stock’s fifty day moving average is $114.72 and its two-hundred day moving average is $106.78. The company has a market capitalization of $24.32 billion, a P/E ratio of 14.01, a PEG ratio of 2.04 and a beta of 1.40. T. Rowe Price Group, Inc. has a 52 week low of $87.43 and a 52 week high of $132.76.

T. Rowe Price Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $1.24 per share. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.22. This represents a $4.96 annualized dividend and a yield of 4.56%. The ex-dividend date was Thursday, March 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 63.92%.

T. Rowe Price Group Company Profile

(Free Report)

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.