Ontario Teachers Pension Plan Board Raises Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Ontario Teachers Pension Plan Board increased its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 47.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,997 shares of the asset manager's stock after buying an additional 3,208 shares during the period. Ontario Teachers Pension Plan Board's holdings in T. Rowe Price Group were worth $1,131,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nilsine Partners LLC increased its holdings in shares of T. Rowe Price Group by 75.5% during the fourth quarter. Nilsine Partners LLC now owns 5,509 shares of the asset manager's stock valued at $623,000 after acquiring an additional 2,370 shares in the last quarter. Principal Financial Group Inc. grew its position in T. Rowe Price Group by 2.8% in the 3rd quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager's stock valued at $30,062,000 after purchasing an additional 7,503 shares during the period. Amundi increased its stake in T. Rowe Price Group by 30.1% during the 4th quarter. Amundi now owns 1,717,877 shares of the asset manager's stock valued at $194,064,000 after purchasing an additional 397,278 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in T. Rowe Price Group by 5.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 357,556 shares of the asset manager's stock worth $40,436,000 after buying an additional 20,062 shares during the last quarter. Finally, Schroder Investment Management Group lifted its stake in shares of T. Rowe Price Group by 49.4% in the fourth quarter. Schroder Investment Management Group now owns 221,579 shares of the asset manager's stock valued at $25,229,000 after buying an additional 73,307 shares in the last quarter. 73.39% of the stock is owned by institutional investors.

T. Rowe Price Group Stock Up 0.9 %

NASDAQ TROW traded up $0.74 during trading hours on Friday, reaching $86.11. 4,903,880 shares of the company were exchanged, compared to its average volume of 1,453,090. The stock has a market capitalization of $19.14 billion, a P/E ratio of 9.40, a P/E/G ratio of 2.86 and a beta of 1.50. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81. The business's 50 day simple moving average is $95.65 and its 200-day simple moving average is $108.41.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same quarter in the previous year, the business posted $1.72 EPS. As a group, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a $1.27 dividend. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from T. Rowe Price Group's previous quarterly dividend of $1.24. This represents a $5.08 annualized dividend and a dividend yield of 5.90%. T. Rowe Price Group's payout ratio is presently 55.46%.

Insider Activity

In related news, VP Arif Husain sold 4,112 shares of the business's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total value of $449,318.24. Following the sale, the vice president now directly owns 36,800 shares in the company, valued at approximately $4,021,136. The trade was a 10.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert F. Maclellan sold 3,955 shares of the stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $91.56, for a total transaction of $362,119.80. Following the transaction, the director now owns 42,979 shares of the company's stock, valued at $3,935,157.24. This represents a 8.43 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on TROW. TD Cowen decreased their target price on shares of T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating for the company in a research report on Wednesday, April 9th. Wells Fargo & Company lowered their price objective on T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Barclays cut their target price on T. Rowe Price Group from $105.00 to $85.00 and set an "underweight" rating on the stock in a research report on Wednesday. Morgan Stanley lowered their price target on T. Rowe Price Group from $126.00 to $121.00 and set an "equal weight" rating for the company in a research report on Monday, February 24th. Finally, Bank of America cut their price objective on shares of T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating on the stock in a report on Thursday, April 3rd. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat.com, T. Rowe Price Group presently has a consensus rating of "Hold" and a consensus target price of $96.00.

T. Rowe Price Group Company 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.