OMERS ADMINISTRATION Corp Makes New Investment in T. Rowe Price Group, Inc. $TROW

Key Points

• OMERS Administration Corp. acquired a new 40,505-share stake in T. Rowe Price Group during the second quarter, valued at approximately $4.6 million. Institutional investors collectively own 73.39% of the company.
• T. Rowe Price exceeded quarterly expectations, reporting $2.57 in EPS and $1.91 billion in revenue, with revenue up 10.7% year over year.
• The company declared a quarterly dividend of $1.30 per share, or $5.20 annually, representing a 4.6% yield. Despite the dividend appeal, analysts maintain a consensus “Reduce” rating with an average price target of $105.67.

OMERS ADMINISTRATION Corp bought a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 40,505 shares of the asset manager's stock, valued at approximately $4,605,000.

Several other large investors also recently modified their holdings of the business. BlackRock Inc. bought a new stake in T. Rowe Price Group during the 2nd quarter worth approximately $2,728,119,000. State Street Corp lifted its stake in T. Rowe Price Group by 0.3% in the fourth quarter. State Street Corp now owns 14,159,797 shares of the asset manager's stock valued at $1,449,680,000 after buying an additional 45,530 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in T. Rowe Price Group by 332.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager's stock valued at $897,880,000 after buying an additional 6,740,172 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of T. Rowe Price Group by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,073,846 shares of the asset manager's stock valued at $826,600,000 after buying an additional 143,109 shares during the period. Finally, First Trust Advisors LP increased its position in shares of T. Rowe Price Group by 12.6% during the first quarter. First Trust Advisors LP now owns 3,694,171 shares of the asset manager's stock worth $332,993,000 after acquiring an additional 413,317 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW opened at $112.30 on Tuesday. The business has a 50-day moving average of $114.02 and a 200-day moving average of $102.91. The stock has a market capitalization of $23.96 billion, a price-to-earnings ratio of 11.26, a PEG ratio of 3.70 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.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.05. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the prior year, the company posted $2.24 earnings per share. T. Rowe Price Group's revenue was up 10.7% on a year-over-year basis. On average, sell-side analysts expect that T. Rowe Price Group, Inc. will post 10.14 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business 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. The ex-dividend date is Tuesday, September 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.6%. T. Rowe Price Group's dividend payout ratio is currently 52.16%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TROW. Weiss Ratings upgraded shares of T. Rowe Price Group from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, July 2nd. BMO Capital Markets upped their price objective on T. Rowe Price Group from $110.00 to $120.00 and gave the stock a "market perform" rating in a research report on Monday, August 3rd. TD Cowen increased their price objective on T. Rowe Price Group from $107.00 to $108.00 and gave the stock a "hold" rating in a report on Monday, August 3rd. Zacks Research cut T. Rowe Price Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 13th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $109.00 price target on shares of T. Rowe Price Group in a research note on Monday, August 3rd. Ten analysts have rated the stock with a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average price target of $105.67.

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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