OMERS ADMINISTRATION Corp Buys 6,052 Shares of T. Rowe Price Group, Inc. $TROW

Key Points

• OMERS ADMINISTRATION Corp increased its holdings in T. Rowe Price Group by 28.8%, acquiring an additional 6,052 shares, bringing their total ownership to 27,069 shares valued at approximately $2,487,000.
• Several other institutional investors also made significant investments in T. Rowe Price Group during the first quarter, contributing to a total of 73.39% of the stock being owned by institutional investors.
• T. Rowe Price Group has recently been upgraded by multiple analysts, with target prices ranging from $95.00 to $112.00, reflecting a consensus rating of "Reduce" and an average target price of $101.09.

OMERS ADMINISTRATION Corp increased its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 28.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,069 shares of the asset manager's stock after buying an additional 6,052 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in T. Rowe Price Group were worth $2,487,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Zions Bancorporation National Association UT acquired a new stake in shares of T. Rowe Price Group during the 1st quarter valued at $27,000. Hexagon Capital Partners LLC lifted its holdings in shares of T. Rowe Price Group by 44.8% during the first quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager's stock valued at $34,000 after purchasing an additional 113 shares during the last quarter. Smallwood Wealth Investment Management LLC acquired a new stake in T. Rowe Price Group during the 1st quarter worth about $39,000. Chilton Capital Management LLC acquired a new position in shares of T. Rowe Price Group in the first quarter worth about $41,000. Finally, Ameriflex Group Inc. acquired a new position in shares of T. Rowe Price Group in the fourth quarter worth about $42,000. 73.39% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Trading Down 0.6%

T. Rowe Price Group stock traded down $0.68 during trading hours on Wednesday, reaching $104.92. 564,196 shares of the company were exchanged, compared to its average volume of 1,758,617. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $125.81. The stock has a 50-day moving average of $104.19 and a 200 day moving average of $97.46. The firm has a market cap of $23.05 billion, a price-to-earnings ratio of 11.72, a PEG ratio of 2.81 and a beta of 1.51.

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

T. Rowe Price Group Dividend Announcement

The company 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 4.8%. T. Rowe Price Group's dividend payout ratio (DPR) is 56.76%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TROW. Barclays reaffirmed an "underweight" rating and issued a $95.00 price objective (up previously from $91.00) on shares of T. Rowe Price Group in a research note on Monday, August 4th. Keefe, Bruyette & Woods upped their price target on T. Rowe Price Group from $110.00 to $112.00 and gave the company a "market perform" rating in a research report on Monday, August 4th. Evercore ISI raised their price objective on T. Rowe Price Group from $106.00 to $110.00 and gave the stock an "in-line" rating in a research report on Monday, August 4th. JPMorgan Chase & Co. increased their price target on shares of T. Rowe Price Group from $98.00 to $102.00 and gave the stock an "underweight" rating in a research report on Monday, August 4th. Finally, Morgan Stanley upped their price objective on shares of T. Rowe Price Group from $112.00 to $116.00 and gave the company an "equal weight" rating in a research note on Monday, August 4th. Eight research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Reduce" and an average price target of $101.09.

Insider Activity at T. Rowe Price Group

In related news, VP Dorothy C. Sawyer sold 2,000 shares of the firm's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total value of $190,860.00. Following the completion of the transaction, the vice president directly owned 44,789 shares of the company's stock, valued at $4,274,214.27. This trade represents a 4.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.60% of the company's stock.

About T. Rowe Price Group

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.