Ontario Teachers Pension Plan Board Boosts Stock Position in T. Rowe Price Group, Inc. $TROW

Ontario Teachers Pension Plan Board boosted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 18.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,629 shares of the asset manager’s stock after buying an additional 2,449 shares during the period. Ontario Teachers Pension Plan Board’s holdings in T. Rowe Price Group were worth $1,508,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. PARK CIRCLE Co increased its stake in T. Rowe Price Group by 20.2% during the 1st quarter. PARK CIRCLE Co now owns 64,345 shares of the asset manager’s stock valued at $5,911,000 after purchasing an additional 10,800 shares in the last quarter. Level Four Advisory Services LLC grew its holdings in shares of T. Rowe Price Group by 4.2% during the first quarter. Level Four Advisory Services LLC now owns 102,084 shares of the asset manager’s stock valued at $9,379,000 after buying an additional 4,141 shares during the last quarter. Kestra Investment Management LLC grew its holdings in shares of T. Rowe Price Group by 268.4% during the first quarter. Kestra Investment Management LLC now owns 35,402 shares of the asset manager’s stock valued at $3,252,000 after buying an additional 25,793 shares during the last quarter. Sei Investments Co. increased its position in shares of T. Rowe Price Group by 1.8% during the first quarter. Sei Investments Co. now owns 254,294 shares of the asset manager’s stock valued at $23,362,000 after acquiring an additional 4,500 shares in the last quarter. Finally, Promethium Advisors LLC raised its holdings in T. Rowe Price Group by 45.2% in the 1st quarter. Promethium Advisors LLC now owns 46,460 shares of the asset manager’s stock worth $4,268,000 after acquiring an additional 14,473 shares during the last quarter. 73.39% of the stock is owned by institutional investors.

Insider Buying and Selling at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,090 shares of the business’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $105.01, for a total transaction of $324,480.90. Following the completion of the sale, the director owned 47,335 shares of the company’s stock, valued at $4,970,648.35. The trade was a 6.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TROW. Deutsche Bank Aktiengesellschaft upped their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a report on Friday. Citigroup upped their target price on shares of T. Rowe Price Group from $105.00 to $107.00 in a research note on Monday, November 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of T. Rowe Price Group in a report on Wednesday, October 8th. The Goldman Sachs Group lifted their price target on shares of T. Rowe Price Group from $93.00 to $98.00 in a research note on Monday, November 3rd. Finally, TD Cowen increased their price objective on shares of T. Rowe Price Group from $108.00 to $112.00 and gave the company a “hold” rating in a research report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $109.38.

T. Rowe Price Group Stock Performance

Shares of NASDAQ:TROW opened at $101.72 on Monday. The stock’s 50-day simple moving average is $104.02 and its two-hundred day simple moving average is $101.40. The stock has a market capitalization of $22.20 billion, a price-to-earnings ratio of 11.37, a PEG ratio of 5.61 and a beta of 1.51. T. Rowe Price Group, Inc. has a 52-week low of $77.85 and a 52-week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, October 31st. The asset manager reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.26. The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.88 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.57 EPS. As a group, equities analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be given a $1.27 dividend. The ex-dividend date is Monday, December 15th. This represents a $5.08 annualized dividend and a yield of 5.0%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 55.34%.

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.