T. Rowe Price Group, Inc. $TROW Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund decreased its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 39.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 228,627 shares of the asset manager’s stock after selling 150,071 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in T. Rowe Price Group were worth $23,407,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in TROW. TD Private Client Wealth LLC boosted its position 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. boosted its position in shares of T. Rowe Price Group by 540.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock worth $29,000 after purchasing an additional 238 shares in the last quarter. Canton Hathaway LLC acquired a new stake in shares of T. Rowe Price Group in the 4th quarter worth $31,000. Sound Income Strategies LLC boosted its position in shares of T. Rowe Price Group by 170.3% in the 4th quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock worth $32,000 after purchasing an additional 189 shares in the last quarter. Finally, TD Waterhouse Canada Inc. boosted its position in shares of T. Rowe Price Group by 92.0% in the 4th quarter. TD Waterhouse Canada Inc. now owns 386 shares of the asset manager’s stock worth $40,000 after purchasing an additional 185 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Wall Street Analysts Forecast Growth

TROW has been the subject of a number of research reports. The Goldman Sachs Group lifted their price target on T. Rowe Price Group from $85.00 to $90.00 in a research report on Friday, May 1st. TD Cowen lifted their price target on T. Rowe Price Group from $93.00 to $94.00 and gave the stock a “hold” rating in a research report on Friday, May 1st. Evercore lifted their price target on T. Rowe Price Group from $106.00 to $111.00 in a research report on Monday, June 8th. BMO Capital Markets lifted their price target on T. Rowe Price Group from $98.00 to $110.00 and gave the stock a “market perform” rating in a research report on Monday, May 4th. Finally, Zacks Research raised T. Rowe Price Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 13th. Eleven analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $100.08.

T. Rowe Price Group Stock Performance

Shares of TROW opened at $108.61 on Tuesday. The stock has a 50-day moving average of $101.19 and a two-hundred day moving average of $99.67. The stock has a market cap of $23.27 billion, a P/E ratio of 11.64, a P/E/G ratio of 5.61 and a beta of 1.50. T. Rowe Price Group, Inc. has a one year low of $85.22 and a one year high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.15. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.85 billion. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.23 EPS. Analysts predict that T. Rowe Price Group, Inc. will post 9.63 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend is Monday, June 15th. T. Rowe Price Group’s payout ratio is 55.73%.

Insider Activity

In other news, VP Stephon A. Jackson sold 3,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total value of $307,680.00. Following the completion of the transaction, the vice president owned 83,883 shares of the company’s stock, valued at $8,603,040.48. The trade was a 3.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.60% of the stock is currently owned by company insiders.

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.