T. Rowe Price Group, Inc. $TROW Shares Purchased by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund lifted its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 18.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 271,137 shares of the asset manager’s stock after purchasing an additional 42,510 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in T. Rowe Price Group were worth $24,440,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. grew its stake in shares of T. Rowe Price Group by 17.4% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 79,003 shares of the asset manager’s stock valued at $8,088,000 after buying an additional 11,691 shares during the period. LBP AM SA lifted its holdings in T. Rowe Price Group by 23.9% in the fourth quarter. LBP AM SA now owns 156,879 shares of the asset manager’s stock valued at $16,061,000 after acquiring an additional 30,226 shares during the last quarter. SVB Wealth LLC grew its position in T. Rowe Price Group by 77.5% in the fourth quarter. SVB Wealth LLC now owns 37,000 shares of the asset manager’s stock worth $3,788,000 after acquiring an additional 16,155 shares during the period. SG Americas Securities LLC grew its position in T. Rowe Price Group by 923.1% in the fourth quarter. SG Americas Securities LLC now owns 150,873 shares of the asset manager’s stock worth $15,446,000 after acquiring an additional 136,127 shares during the period. Finally, Generali Asset Management SPA SGR increased its stake in T. Rowe Price Group by 1,680.4% during the fourth quarter. Generali Asset Management SPA SGR now owns 17,715 shares of the asset manager’s stock worth $1,814,000 after acquiring an additional 16,720 shares during the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TROW. BMO Capital Markets upped their price target on T. Rowe Price Group from $98.00 to $110.00 and gave the company a “market perform” rating in a research note on Monday, May 4th. JPMorgan Chase & Co. cut their price objective on T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating for the company in a research report on Friday, April 24th. Jefferies Financial Group reduced their price objective on shares of T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating on the stock in a report on Wednesday, April 8th. TD Cowen decreased their target price on shares of T. Rowe Price Group from $108.00 to $107.00 and set a “hold” rating on the stock in a research report on Monday, July 20th. Finally, Keefe, Bruyette & Woods increased their target price on shares of T. Rowe Price Group from $107.00 to $120.00 and gave the stock a “market perform” rating in a research note on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce” and an average target price of $104.50.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $116.50 on Monday. The firm has a market capitalization of $24.96 billion, a PE ratio of 12.49, a price-to-earnings-growth ratio of 4.18 and a beta of 1.47. T. Rowe Price Group, Inc. has a 1 year low of $85.22 and a 1 year high of $121.17. The firm’s 50-day moving average is $110.18 and its two-hundred day moving average is $101.74.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 EPS for the quarter, beating the consensus estimate of $2.37 by $0.15. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.85 billion. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.23 earnings per share. Analysts expect that T. Rowe Price Group, Inc. will post 10.12 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were issued a dividend of $1.30 per share. The ex-dividend date was Monday, June 15th. This represents a $5.20 dividend on an annualized basis and a yield of 4.5%. T. Rowe Price Group’s dividend payout ratio is 55.73%.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total value of $307,680.00. Following the completion of the transaction, the vice president owned 83,883 shares of the company’s stock, valued at $8,603,040.48. This trade represents a 3.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.60% 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.