OMERS ADMINISTRATION Corp Invests $4.61 Million in T. Rowe Price Group, Inc. $TROW

OMERS ADMINISTRATION Corp bought a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the second quarter, HoldingsChannel.com reports. The fund bought 40,505 shares of the asset manager’s stock, valued at approximately $4,605,000.

Several other hedge funds have also bought and sold shares of the company. TD Private Client Wealth LLC increased its position in T. Rowe Price Group by 91.8% during the fourth quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock worth $26,000 after buying an additional 123 shares during the last quarter. DV Equities LLC acquired a new stake in shares of T. Rowe Price Group in the fourth quarter valued at approximately $32,000. Motiv8 Investments LLC acquired a new stake in shares of T. Rowe Price Group in the fourth quarter valued at approximately $35,000. Bank & Trust Co boosted its stake in shares of T. Rowe Price Group by 52.4% during the 2nd quarter. Bank & Trust Co now owns 314 shares of the asset manager’s stock worth $36,000 after acquiring an additional 108 shares during the period. Finally, Keating Financial Advisory Services Inc. bought a new position in shares of T. Rowe Price Group during the 2nd quarter worth approximately $39,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $115.00 price target (down from $120.00) on shares of T. Rowe Price Group in a research note on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $109.00 price objective on shares of T. Rowe Price Group in a report on Monday, August 3rd. Zacks Research lowered shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. Morgan Stanley set a $116.00 target price on shares of T. Rowe Price Group in a research note on Wednesday, July 29th. Finally, TD Cowen lifted their target price 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. Ten analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $105.67.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW opened at $112.30 on Tuesday. The stock’s fifty day moving average price is $114.02 and its two-hundred day moving average price is $102.91. T. Rowe Price Group, Inc. has a one year low of $85.22 and a one year high of $122.00. The firm has a market cap of $23.96 billion, a price-to-earnings ratio of 11.26, a P/E/G ratio of 3.70 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter last year, the firm earned $2.24 earnings per share. The company’s revenue was up 10.7% on a year-over-year basis. On average, equities analysts anticipate that T. Rowe Price Group, Inc. will post 10.14 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend is Tuesday, September 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 52.16%.

T. Rowe Price Group Profile

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.