Canada Pension Plan Investment Board Acquires New Shares in T. Rowe Price Group, Inc. $TROW

Canada Pension Plan Investment Board acquired a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 160,010 shares of the asset manager’s stock, valued at approximately $18,192,000. Canada Pension Plan Investment Board owned approximately 0.08% of T. Rowe Price Group as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of TROW. Wealthcare Capital Partners LLC boosted its holdings in shares of T. Rowe Price Group by 1.0% during the 2nd quarter. Wealthcare Capital Partners LLC now owns 9,565 shares of the asset manager’s stock valued at $1,087,000 after acquiring an additional 93 shares during the last quarter. Kesler Norman & Wride LLC raised its holdings in shares of T. Rowe Price Group by 0.6% during the second quarter. Kesler Norman & Wride LLC now owns 15,914 shares of the asset manager’s stock valued at $1,809,000 after purchasing an additional 96 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in T. Rowe Price Group by 9.4% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,150 shares of the asset manager’s stock valued at $131,000 after purchasing an additional 99 shares during the period. Oregon Public Employees Retirement Fund lifted its position in T. Rowe Price Group by 0.4% during the first quarter. Oregon Public Employees Retirement Fund now owns 25,062 shares of the asset manager’s stock valued at $2,259,000 after purchasing an additional 100 shares during the period. Finally, Concorde Asset Management LLC lifted its position in T. Rowe Price Group by 3.9% during the first quarter. Concorde Asset Management LLC now owns 2,730 shares of the asset manager’s stock valued at $246,000 after purchasing an additional 102 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Joshua B. Nelson sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $111.82, for a total transaction of $1,118,200.00. Following the completion of the sale, the vice president owned 71,328 shares of the company’s stock, valued at approximately $7,975,896.96. The trade was a 12.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.60% of the company’s stock.

T. Rowe Price Group Trading Down 1.0%

TROW opened at $111.24 on Friday. The firm’s 50 day simple moving average is $114.35 and its two-hundred day simple moving average is $103.34. The company has a market capitalization of $23.73 billion, a PE ratio of 11.16, a PEG ratio of 3.72 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 $122.00.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.52 by $0.05. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.91%. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.24 EPS. Equities analysts forecast that T. Rowe Price Group, Inc. will post 10.15 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be given a dividend of $1.30 per share. The ex-dividend date is Tuesday, September 15th. This represents a $5.20 annualized dividend and a yield of 4.7%. T. Rowe Price Group’s payout ratio is 52.16%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. BMO Capital Markets boosted their target price on shares of T. Rowe Price Group from $110.00 to $120.00 and gave the company a “market perform” rating in a research note on Monday, August 3rd. Barclays dropped their price target on T. Rowe Price Group from $108.00 to $103.00 and set an “underweight” rating on the stock in a research note on Monday, August 3rd. Morgan Stanley set a $116.00 price objective on T. Rowe Price Group in a report on Wednesday, July 29th. Evercore set a $118.00 price objective on T. Rowe Price Group in a research report on Monday, August 10th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $115.00 target price (down from $120.00) on shares of T. Rowe Price Group in a report on Monday, August 3rd. Ten research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, T. Rowe Price Group currently has an average rating of “Reduce” and an average target price of $105.67.

T. Rowe Price Group Profile

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.