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

Healthcare of Ontario Pension Plan Trust Fund grew its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 18.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 271,137 shares of the asset manager’s stock after purchasing an additional 42,510 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned about 0.13% of T. Rowe Price Group worth $24,440,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group upped their price objective on shares of T. Rowe Price Group from $90.00 to $92.00 and gave the stock a “sell” rating in a research report on Tuesday, June 30th. Morgan Stanley lifted their target price on shares of T. Rowe Price Group from $105.00 to $109.00 and gave the company an “equal weight” rating in a research report on Friday, June 26th. BMO Capital Markets boosted their target price on shares of T. Rowe Price Group from $98.00 to $110.00 and gave the stock a “market perform” rating in a research note on Monday, May 4th. Barclays upped their price target on shares of T. Rowe Price Group from $89.00 to $108.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 14th. Finally, JPMorgan Chase & Co. decreased their price target on shares of T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating on the stock in a research note on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, T. Rowe Price Group has a consensus rating of “Reduce” and an average price target of $104.50.

T. Rowe Price Group Price Performance

Shares of TROW opened at $116.50 on Monday. T. Rowe Price Group, Inc. has a 52-week low of $85.22 and a 52-week high of $121.17. The firm’s fifty day moving average is $110.18 and its two-hundred day moving average is $101.74. The stock has a market cap 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 (NASDAQ:TROW) last posted its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.37 by $0.15. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.85 billion. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the firm posted $2.23 earnings per share. As a group, research analysts anticipate that T. Rowe Price Group, Inc. will post 10.12 earnings per share for the current 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 paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend was Monday, June 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is 55.73%.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Stephon A. Jackson sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total value of $307,680.00. Following the completion of the sale, the vice president directly owned 83,883 shares in the company, valued at $8,603,040.48. This represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is currently owned by corporate insiders.

About T. Rowe Price Group

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.