Canada Pension Plan Investment Board Boosts Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Canada Pension Plan Investment Board boosted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1,328.0% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 162,010 shares of the asset manager’s stock after buying an additional 150,665 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.07% of T. Rowe Price Group worth $18,681,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. XTX Topco Ltd purchased a new stake in T. Rowe Price Group in the 2nd quarter valued at approximately $925,000. Blair William & Co. IL lifted its stake in T. Rowe Price Group by 5.1% in the 2nd quarter. Blair William & Co. IL now owns 214,777 shares of the asset manager’s stock valued at $24,766,000 after buying an additional 10,340 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in T. Rowe Price Group by 36.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 31,221 shares of the asset manager’s stock valued at $3,600,000 after buying an additional 8,283 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its stake in T. Rowe Price Group by 19.3% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 146,849 shares of the asset manager’s stock valued at $16,933,000 after buying an additional 23,745 shares in the last quarter. Finally, Bradley Foster & Sargent Inc. CT lifted its stake in T. Rowe Price Group by 3.1% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 10,214 shares of the asset manager’s stock valued at $1,178,000 after buying an additional 310 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Down 2.0 %

TROW stock opened at $108.29 on Monday. The company has a market cap of $24.18 billion, a price-to-earnings ratio of 12.86, a PEG ratio of 1.69 and a beta of 1.41. The business has a fifty day simple moving average of $108.80 and a 200-day simple moving average of $113.25. T. Rowe Price Group, Inc. has a 52 week low of $87.43 and a 52 week high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.01). T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same quarter in the prior year, the firm earned $2.02 earnings per share. T. Rowe Price Group’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, analysts expect that T. Rowe Price Group, Inc. will post 9 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a $1.24 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $4.96 annualized dividend and a yield of 4.58%. T. Rowe Price Group’s dividend payout ratio is currently 58.91%.

Wall Street Analysts Forecast Growth

TROW has been the topic of a number of recent research reports. Evercore ISI reduced their target price on T. Rowe Price Group from $115.00 to $108.00 and set an “in-line” rating on the stock in a research note on Thursday, September 5th. Barclays started coverage on T. Rowe Price Group in a report on Tuesday, August 27th. They issued an “underweight” rating and a $99.00 price target for the company. Deutsche Bank Aktiengesellschaft boosted their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. boosted their price target on T. Rowe Price Group from $102.00 to $107.00 and gave the company an “underweight” rating in a report on Tuesday, July 23rd. Finally, StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Three investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $113.30.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction dated 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 completion of the sale, the vice president now owns 123,624 shares of the company’s stock, valued at $12,712,255.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the completion of the sale, the vice president now owns 123,624 shares of the company’s stock, valued at $12,712,255.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the transaction, the insider now directly owns 13,939 shares in the company, valued at $1,459,831.47. The disclosure for this sale can be found here. Insiders have sold 13,854 shares of company stock valued at $1,443,767 over the last three months. 2.00% of the stock is owned by company insiders.

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.