Caisse de depot et placement du Quebec purchased a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,166,762 shares of the asset manager's stock, valued at approximately $132,649,000. Caisse de depot et placement du Quebec owned approximately 0.55% of T. Rowe Price Group as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TROW. Gallagher Fiduciary Advisors LLC bought a new position in shares of T. Rowe Price Group in the second quarter valued at approximately $267,000. Man Group plc bought a new stake in T. Rowe Price Group during the second quarter worth $7,987,000. Jupiter Topco LLC purchased a new stake in T. Rowe Price Group in the 2nd quarter valued at $2,976,000. PDT Partners LLC purchased a new stake in T. Rowe Price Group in the 2nd quarter valued at $4,388,000. Finally, Canada Pension Plan Investment Board bought a new position in T. Rowe Price Group during the 2nd quarter valued at $18,192,000. 73.39% of the stock is owned by institutional investors.
Insider Buying and Selling
In other T. Rowe Price Group news, VP Joshua B. Nelson sold 10,000 shares of the company'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 transaction, the vice president directly owned 71,328 shares in the company, valued at $7,975,896.96. This represents a 12.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is currently owned by insiders.
T. Rowe Price Group Stock Down 0.3%
Shares of NASDAQ:TROW opened at $112.55 on Thursday. The firm has a market capitalization of $24.01 billion, a PE ratio of 11.29, a P/E/G ratio of 3.74 and a beta of 1.47. The company 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, Inc. has a twelve month low of $85.22 and a twelve month high of $122.00.
T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $1.89 billion. During the same quarter in the previous year, the firm posted $2.24 EPS. The business's revenue for the quarter was up 10.7% compared to the same quarter last year. Analysts anticipate that T. Rowe Price Group, Inc. will post 10.15 earnings per share for the current fiscal year.
T. Rowe Price Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $5.20 annualized dividend and a yield of 4.6%. T. Rowe Price Group's dividend payout ratio (DPR) is currently 52.16%.
Analyst Ratings Changes
A number of equities analysts have issued reports on TROW shares. Weiss Ratings raised shares of T. Rowe Price Group from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, July 2nd. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $115.00 target price (down from $120.00) on shares of T. Rowe Price Group in a report on Monday, August 3rd. Evercore set a $118.00 price target on shares of T. Rowe Price Group in a research report on Monday, August 10th. TD Cowen boosted their price target on shares of T. Rowe Price Group from $107.00 to $108.00 and gave the stock a "hold" rating in a report on Monday, August 3rd. Finally, Morgan Stanley set a $116.00 price objective on shares of T. Rowe Price Group in a research report on Wednesday, July 29th. Ten investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Reduce" and a consensus price target of $105.67.
Check Out Our Latest Report on T. Rowe Price Group
T. Rowe Price Group Profile
(
Free Report)
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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