Caisse de depot et placement du Quebec Buys Shares of 1,166,762 T. Rowe Price Group, Inc. $TROW

Caisse de depot et placement du Quebec purchased a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the second quarter, HoldingsChannel reports. The institutional investor purchased 1,166,762 shares of the asset manager’s stock, valued at approximately $132,649,000.

A number of other institutional investors have also recently made changes to their positions in TROW. Gallagher Fiduciary Advisors LLC purchased a new stake in shares of T. Rowe Price Group during the 2nd quarter valued at $267,000. Man Group plc bought a new stake in shares of T. Rowe Price Group during the 2nd quarter worth $7,987,000. Jupiter Topco LLC purchased a new position in T. Rowe Price Group in the second quarter worth $2,976,000. PDT Partners LLC purchased a new position in T. Rowe Price Group in the second quarter worth $4,388,000. Finally, Canada Pension Plan Investment Board bought a new position in T. Rowe Price Group in the second quarter valued at $18,192,000. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of TROW stock opened at $112.55 on Thursday. The company has a market capitalization of $24.01 billion, a P/E ratio of 11.29, a PEG ratio of 3.74 and a beta of 1.47. T. Rowe Price Group, Inc. has a fifty-two week low of $85.22 and a fifty-two week high of $122.00. The stock has a 50 day moving average price of $114.18 and a two-hundred day moving average price of $103.16.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, July 31st. The asset manager reported $2.57 EPS for the quarter, topping the consensus estimate of $2.52 by $0.05. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.91%. The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the previous year, the firm earned $2.24 earnings per share. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, equities analysts predict that T. Rowe Price Group, Inc. will post 10.15 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend is Tuesday, September 15th. T. Rowe Price Group’s dividend payout ratio is 52.16%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on TROW shares. TD Cowen raised their price target on T. Rowe Price Group from $107.00 to $108.00 and gave the company a “hold” rating in a research report on Monday, August 3rd. Zacks Research cut T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 13th. Morgan Stanley set a $116.00 price objective on T. Rowe Price Group in a research report on Wednesday, July 29th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $115.00 price objective (down from $120.00) on shares of T. Rowe Price Group in a report on Monday, August 3rd. Finally, Weiss Ratings upgraded T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 2nd. Ten investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, T. Rowe Price Group presently has a consensus rating of “Reduce” and a consensus price target of $105.67.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Joshua B. Nelson sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $111.82, for a total value of $1,118,200.00. Following the sale, the vice president directly owned 71,328 shares of the company’s stock, valued at $7,975,896.96. This trade represents a 12.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.60% of the company’s stock.

About T. Rowe Price Group

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.