Healthcare of Ontario Pension Plan Trust Fund Trims Stake in T. Rowe Price Group, Inc. $TROW

Key Points

• Healthcare of Ontario Pension Plan Trust Fund cut its stake in T. Rowe Price Group by 39.6% in the fourth quarter, selling 150,071 shares and ending with 228,627 shares worth about $23.4 million.
• T. Rowe Price reported better-than-expected quarterly results, with EPS of $2.52 versus $2.37 expected and revenue of $1.86 billion, up 5.3% from a year earlier.
• The company also declared a quarterly dividend of $1.30 per share, implying an annualized yield of 4.8%, while analysts currently rate the stock a consensus “Reduce” with an average target price of $100.08.

Healthcare of Ontario Pension Plan Trust Fund reduced its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 39.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm 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 owned about 0.10% of T. Rowe Price Group worth $23,407,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Landscape Capital Management L.L.C. increased its holdings in T. Rowe Price Group by 546.2% during the 4th quarter. Landscape Capital Management L.L.C. now owns 18,081 shares of the asset manager's stock worth $1,851,000 after purchasing an additional 15,283 shares during the period. Entropy Technologies LP purchased a new position in T. Rowe Price Group during the 4th quarter worth $2,238,000. Barclays PLC increased its holdings in T. Rowe Price Group by 28.0% during the 4th quarter. Barclays PLC now owns 805,062 shares of the asset manager's stock worth $82,422,000 after purchasing an additional 176,229 shares during the period. FORA Capital LLC purchased a new position in T. Rowe Price Group during the 4th quarter worth $437,000. Finally, CreativeOne Wealth LLC increased its holdings in T. Rowe Price Group by 13.1% during the 4th quarter. CreativeOne Wealth LLC now owns 65,933 shares of the asset manager's stock worth $6,750,000 after purchasing an additional 7,613 shares during the period. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

T. Rowe Price Group Trading Down 0.9%

Shares of NASDAQ TROW opened at $108.61 on Tuesday. The stock has a market capitalization of $23.27 billion, a PE ratio of 11.64, a price-to-earnings-growth ratio of 5.61 and a beta of 1.50. The stock's fifty day simple moving average is $101.19 and its two-hundred day simple moving average is $99.67. T. Rowe Price Group, Inc. has a 12-month low of $85.22 and a 12-month high of $118.22.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its earnings results 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 for 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 business's revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.23 EPS. On average, equities analysts predict that T. Rowe Price Group, Inc. will post 9.63 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Monday, June 15th. T. Rowe Price Group's dividend payout ratio (DPR) is 55.73%.

Analysts Set New Price Targets

Several research analysts have commented on TROW shares. TD Cowen raised their price objective on T. Rowe Price Group from $93.00 to $94.00 and gave the stock a "hold" rating in a report on Friday, May 1st. The Goldman Sachs Group raised their price objective on T. Rowe Price Group from $85.00 to $90.00 in a report on Friday, May 1st. Evercore raised their price objective on T. Rowe Price Group from $106.00 to $111.00 in a report on Monday, June 8th. Weiss Ratings restated a "hold (c)" rating on shares of T. Rowe Price Group in a report on Friday, May 8th. Finally, Barclays increased their target price on T. Rowe Price Group from $87.00 to $89.00 and gave the company an "underweight" rating in a research report on Friday, May 1st. Eleven equities research 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, the stock presently has a consensus rating of "Reduce" and an average target price of $100.08.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Stephon A. Jackson sold 3,000 shares of the firm's stock in a transaction on 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 sale, the vice president owned 83,883 shares of the company's stock, valued at $8,603,040.48. This trade represents a 3.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is owned by insiders.

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.

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