T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp lowered its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 22.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,017 shares of the asset manager’s stock after selling 6,030 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in T. Rowe Price Group were worth $2,377,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in T. Rowe Price Group in the fourth quarter valued at about $117,704,000. Marshall Wace LLP purchased a new position in shares of T. Rowe Price Group during the 4th quarter worth approximately $63,284,000. Fayez Sarofim & Co raised its stake in shares of T. Rowe Price Group by 7.6% during the 4th quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager’s stock worth $684,474,000 after buying an additional 425,142 shares in the last quarter. Amundi lifted its holdings in shares of T. Rowe Price Group by 30.1% in the 4th quarter. Amundi now owns 1,717,877 shares of the asset manager’s stock valued at $194,064,000 after buying an additional 397,278 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of T. Rowe Price Group by 5.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager’s stock valued at $812,798,000 after buying an additional 346,369 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insider Transactions at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 968 shares of T. Rowe Price Group stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $96.98, for a total transaction of $93,876.64. Following the completion of the sale, the insider now owns 13,611 shares in the company, valued at approximately $1,319,994.78. This trade represents a 6.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert F. Maclellan sold 3,955 shares of the company’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $91.56, for a total transaction of $362,119.80. Following the completion of the transaction, the director now owns 42,979 shares in the company, valued at approximately $3,935,157.24. This trade represents a 8.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on TROW shares. Wells Fargo & Company cut their price objective on T. Rowe Price Group from $116.00 to $98.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 8th. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $113.00 price objective (up previously from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. The Goldman Sachs Group decreased their price objective on shares of T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating on the stock in a report on Monday, April 14th. Finally, Cowen restated a “hold” rating on shares of T. Rowe Price Group in a research report on Monday, May 5th. Four equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the company’s stock. According to MarketBeat.com, T. Rowe Price Group presently has a consensus rating of “Hold” and a consensus target price of $94.09.

T. Rowe Price Group Trading Up 0.1%

Shares of TROW opened at $97.32 on Thursday. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $125.81. The stock has a market cap of $21.44 billion, a P/E ratio of 10.62, a PEG ratio of 2.86 and a beta of 1.50. The company has a 50-day moving average of $90.44 and a two-hundred day moving average of $106.00.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, May 2nd. The asset manager reported $2.23 earnings per share for the quarter, topping analysts’ consensus estimates of $2.13 by $0.10. T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. The business had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same period last year, the company posted $2.38 EPS. The company’s revenue was up .8% on a year-over-year basis. As a group, analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be issued a $1.27 dividend. The ex-dividend date is Friday, June 13th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.22%. T. Rowe Price Group’s dividend payout ratio (DPR) is 57.60%.

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.