Canada Pension Plan Investment Board Has $25.98 Million Position in T. Rowe Price Group, Inc. $TROW

Key Points

• The Canada Pension Plan Investment Board increased its stake in T. Rowe Price Group by 70.8%, acquiring an additional 117,227 shares for a total holding of 282,737 shares valued at approximately $25.97 million.
• T. Rowe Price reported $2.24 earnings per share for the last quarter, exceeding estimates, with a revenue of $1.72 billion, reflecting a year-over-year decline of 0.6%.
• The company declared a quarterly dividend of $1.27 per share, with a dividend yield of 4.7%, scheduled for payment on September 29.

Canada Pension Plan Investment Board boosted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 70.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 282,737 shares of the asset manager's stock after acquiring an additional 117,227 shares during the period. Canada Pension Plan Investment Board owned 0.13% of T. Rowe Price Group worth $25,975,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of TROW. Schonfeld Strategic Advisors LLC lifted its position in shares of T. Rowe Price Group by 209.9% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 19,162 shares of the asset manager's stock worth $2,167,000 after buying an additional 12,979 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its position in shares of T. Rowe Price Group by 35.7% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 17,044 shares of the asset manager's stock worth $1,927,000 after buying an additional 4,480 shares during the last quarter. Gallagher Fiduciary Advisors LLC acquired a new stake in shares of T. Rowe Price Group in the 4th quarter worth about $231,000. Aptus Capital Advisors LLC acquired a new stake in shares of T. Rowe Price Group in the 4th quarter worth about $238,000. Finally, Benjamin Edwards Inc. increased its stake in T. Rowe Price Group by 1.0% during the 4th quarter. Benjamin Edwards Inc. now owns 81,409 shares of the asset manager's stock valued at $9,207,000 after buying an additional 815 shares during the period. 73.39% of the stock is currently owned by institutional investors.

Insider Transactions at T. Rowe Price Group

In related news, VP Dorothy C. Sawyer sold 2,000 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total transaction of $190,860.00. Following the transaction, the vice president owned 44,789 shares of the company's stock, valued at approximately $4,274,214.27. The trade was a 4.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 2.00% of the company's stock.

T. Rowe Price Group Stock Performance

Shares of TROW stock traded up $6.15 during trading on Thursday, hitting $111.52. 5,277,525 shares of the company were exchanged, compared to its average volume of 1,782,321. The firm has a market capitalization of $24.50 billion, a price-to-earnings ratio of 12.46, a P/E/G ratio of 2.81 and a beta of 1.51. The business's 50-day simple moving average is $104.39 and its 200 day simple moving average is $97.52. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.09. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter last year, the firm earned $2.26 earnings per share. The company's revenue for the quarter was down .6% on a year-over-year basis. On average, equities analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be given a dividend of $1.27 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $5.08 dividend on an annualized basis and a yield of 4.6%. T. Rowe Price Group's payout ratio is 56.76%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Wells Fargo & Company raised their target price on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the company an "equal weight" rating in a research note on Friday, July 11th. Barclays reissued an "underweight" rating and set a $95.00 target price (up previously from $91.00) on shares of T. Rowe Price Group in a research note on Monday, August 4th. Evercore ISI lifted their price objective on shares of T. Rowe Price Group from $106.00 to $110.00 and gave the stock an "in-line" rating in a research note on Monday, August 4th. Morgan Stanley lifted their price objective on shares of T. Rowe Price Group from $112.00 to $116.00 and gave the stock an "equal weight" rating in a research note on Monday, August 4th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of T. Rowe Price Group from $98.00 to $102.00 and gave the stock an "underweight" rating in a research note on Monday, August 4th. Eight equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Reduce" and a consensus price target of $101.09.

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.