OMERS ADMINISTRATION Corp boosted its position in T. Rowe Price Group, Inc. (NASDAQ:TROW – Free Report) by 25.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,192 shares of the asset manager’s stock after acquiring an additional 7,233 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in T. Rowe Price Group were worth $3,262,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also added to or reduced their stakes in TROW. TD Private Client Wealth LLC boosted its holdings in shares of T. Rowe Price Group by 91.8% in the 4th quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock worth $26,000 after purchasing an additional 123 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of T. Rowe Price Group by 540.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 238 shares during the last quarter. Canton Hathaway LLC purchased a new position in shares of T. Rowe Price Group during the 4th quarter valued at about $31,000. Sound Income Strategies LLC raised its holdings in shares of T. Rowe Price Group by 170.3% during the 4th quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock valued at $32,000 after buying an additional 189 shares in the last quarter. Finally, DV Equities LLC bought a new stake in T. Rowe Price Group in the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have issued reports on TROW shares. Evercore set a $121.00 target price on T. Rowe Price Group in a research note on Friday, July 10th. Zacks Research upgraded shares of T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 15th. Weiss Ratings raised shares of T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 2nd. TD Cowen reduced their target price on shares of T. Rowe Price Group from $108.00 to $107.00 and set a “hold” rating on the stock in a report on Monday, July 20th. Finally, Morgan Stanley lifted their target price on shares of T. Rowe Price Group from $105.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Friday, June 26th. One investment 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 stock. According to MarketBeat, T. Rowe Price Group presently has an average rating of “Reduce” and a consensus target price of $104.50.
Insider Activity at T. Rowe Price Group
In related news, VP Stephon A. Jackson sold 3,000 shares of the company’s stock in a transaction 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 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 position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.60% of the stock is currently owned by insiders.
T. Rowe Price Group Price Performance
Shares of TROW stock opened at $119.21 on Tuesday. The business has a 50-day moving average of $110.52 and a 200 day moving average of $101.81. T. Rowe Price Group, Inc. has a 1-year low of $85.22 and a 1-year high of $121.17. The stock 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 (NASDAQ:TROW – Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.37 by $0.15. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same period in the previous year, the firm earned $2.23 EPS. The business’s quarterly revenue was up 5.3% on a year-over-year basis. Analysts anticipate that T. Rowe Price Group, Inc. will post 10.12 EPS for the current year.
T. Rowe Price Group Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 15th were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend was Monday, June 15th. T. Rowe Price Group’s payout ratio is presently 55.73%.
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.
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