OMERS ADMINISTRATION Corp Increases Holdings in T. Rowe Price Group, Inc. $TROW

OMERS ADMINISTRATION Corp raised its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 25.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,192 shares of the asset manager’s stock after purchasing an additional 7,233 shares during the period. OMERS ADMINISTRATION Corp’s holdings in T. Rowe Price Group were worth $3,262,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Aristotle Atlantic Partners LLC bought a new position in shares of T. Rowe Price Group during the first quarter valued at approximately $270,000. Entropy Technologies LP boosted its holdings in T. Rowe Price Group by 83.5% in the first quarter. Entropy Technologies LP now owns 40,123 shares of the asset manager’s stock valued at $3,617,000 after acquiring an additional 18,263 shares in the last quarter. TCM Advisors LLC boosted its holdings in T. Rowe Price Group by 16.6% in the first quarter. TCM Advisors LLC now owns 9,818 shares of the asset manager’s stock valued at $885,000 after acquiring an additional 1,400 shares in the last quarter. Bridgewater Advisors Inc. purchased a new position in T. Rowe Price Group during the 1st quarter valued at $254,000. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings in T. Rowe Price Group by 18.6% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 271,137 shares of the asset manager’s stock worth $24,440,000 after purchasing an additional 42,510 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Activity

In other news, VP Stephon A. Jackson sold 3,000 shares of T. Rowe Price Group stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total transaction of $307,680.00. Following the completion of the transaction, the vice president directly owned 83,883 shares in the company, valued at approximately $8,603,040.48. This trade 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 accessible through the SEC website. Insiders own 1.60% of the company’s stock.

T. Rowe Price Group Price Performance

NASDAQ:TROW opened at $119.21 on Tuesday. The firm’s 50-day moving average price is $110.52 and its 200-day moving average price is $101.81. The company has a market capitalization of $25.54 billion, a PE ratio of 12.78, a P/E/G 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.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.15. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same period last year, the company posted $2.23 EPS. T. Rowe Price Group’s revenue was up 5.3% on a year-over-year basis. Equities analysts anticipate 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 paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.4%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 55.73%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on TROW shares. Zacks Research raised shares of T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 15th. Jefferies Financial Group decreased their price target on shares of T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating for the company in a research note on Wednesday, April 8th. Morgan Stanley raised their price objective on shares of T. Rowe Price Group from $105.00 to $109.00 and gave the stock an “equal weight” rating in a report on Friday, June 26th. Keefe, Bruyette & Woods upped their target price on T. Rowe Price Group from $107.00 to $120.00 and gave the stock a “market perform” rating in a report on Friday, July 10th. Finally, Evercore set a $121.00 target price on T. Rowe Price Group in a research report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, T. Rowe Price Group presently has an average rating of “Reduce” and an average target price of $104.50.

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.