T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Bought by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board boosted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 52.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,789 shares of the asset manager’s stock after purchasing an additional 2,332 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in T. Rowe Price Group were worth $740,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. O Shaughnessy Asset Management LLC lifted its stake in shares of T. Rowe Price Group by 44.5% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 16,040 shares of the asset manager’s stock worth $1,956,000 after acquiring an additional 4,938 shares during the period. Natixis bought a new stake in T. Rowe Price Group in the first quarter worth approximately $952,000. CreativeOne Wealth LLC increased its position in T. Rowe Price Group by 97.6% during the first quarter. CreativeOne Wealth LLC now owns 8,229 shares of the asset manager’s stock worth $1,003,000 after buying an additional 4,065 shares during the last quarter. Toronto Dominion Bank raised its stake in shares of T. Rowe Price Group by 83.4% in the 1st quarter. Toronto Dominion Bank now owns 129,674 shares of the asset manager’s stock valued at $15,810,000 after acquiring an additional 58,987 shares in the last quarter. Finally, BOKF NA raised its position in shares of T. Rowe Price Group by 620.3% in the first quarter. BOKF NA now owns 107,560 shares of the asset manager’s stock valued at $12,939,000 after purchasing an additional 92,628 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TROW. JPMorgan Chase & Co. dropped their price objective on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research note on Monday, November 4th. Morgan Stanley upped their target price on shares of T. Rowe Price Group from $127.00 to $129.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Barclays lifted their price objective on T. Rowe Price Group from $101.00 to $110.00 and gave the company an “underweight” rating in a report on Monday, November 4th. The Goldman Sachs Group dropped their price target on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a report on Thursday, October 3rd. Finally, Evercore ISI boosted their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $115.55.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $118.38 on Friday. T. Rowe Price Group, Inc. has a fifty-two week low of $96.48 and a fifty-two week high of $122.27. The company has a market capitalization of $26.30 billion, a price-to-earnings ratio of 12.95, a P/E/G ratio of 1.67 and a beta of 1.41. The firm’s 50 day simple moving average is $111.89 and its 200 day simple moving average is $112.37.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period in the previous year, the firm earned $2.17 EPS. T. Rowe Price Group’s quarterly revenue was up 6.9% compared to the same quarter last year. Equities research analysts expect that T. Rowe Price Group, Inc. will post 9.33 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date of this dividend is Friday, December 13th. T. Rowe Price Group’s dividend payout ratio is presently 54.27%.

Insider Transactions at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $102.83, for a total value of $1,230,772.27. Following the sale, the vice president now owns 123,624 shares in the company, valued at approximately $12,712,255.92. This represents a 8.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jessica M. Hiebler sold 484 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $104.73, for a total transaction of $50,689.32. Following the completion of the transaction, the insider now owns 13,939 shares in the company, valued at approximately $1,459,831.47. This trade represents a 3.36 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

T. Rowe Price Group Profile

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.