Osaic Holdings Inc. Raises Holdings in T. Rowe Price Group, Inc. $TROW

Osaic Holdings Inc. lifted its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 41.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 123,916 shares of the asset manager’s stock after acquiring an additional 36,108 shares during the quarter. Osaic Holdings Inc. owned approximately 0.06% of T. Rowe Price Group worth $11,828,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Orion Porfolio Solutions LLC increased its stake in shares of T. Rowe Price Group by 19.3% in the second quarter. Orion Porfolio Solutions LLC now owns 17,225 shares of the asset manager’s stock worth $1,662,000 after purchasing an additional 2,782 shares in the last quarter. Provident Investment Management Inc. boosted its holdings in T. Rowe Price Group by 17.9% in the 2nd quarter. Provident Investment Management Inc. now owns 8,447 shares of the asset manager’s stock worth $815,000 after buying an additional 1,280 shares during the period. Thompson Davis & CO. Inc. purchased a new position in T. Rowe Price Group in the 2nd quarter valued at approximately $1,825,000. Saratoga Research & Investment Management raised its holdings in T. Rowe Price Group by 15.4% during the 2nd quarter. Saratoga Research & Investment Management now owns 2,986 shares of the asset manager’s stock valued at $288,000 after acquiring an additional 398 shares during the period. Finally, Anchor Investment Management LLC raised its holdings in T. Rowe Price Group by 2.2% during the 2nd quarter. Anchor Investment Management LLC now owns 28,500 shares of the asset manager’s stock valued at $2,750,000 after acquiring an additional 624 shares during the period. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Trading Down 0.0%

TROW stock opened at $103.28 on Friday. The company’s 50 day moving average is $102.95 and its 200 day moving average is $102.74. The stock has a market cap of $22.54 billion, a price-to-earnings ratio of 11.25, a price-to-earnings-growth ratio of 3.40 and a beta of 1.53. T. Rowe Price Group, Inc. has a 1-year low of $77.85 and a 1-year high of $118.32.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, October 31st. The asset manager reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.26. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.88 billion. T. Rowe Price Group had a net margin of 28.89% and a return on equity of 19.95%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.57 EPS. As a group, sell-side analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be paid a dividend of $1.27 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $5.08 annualized dividend and a yield of 4.9%. T. Rowe Price Group’s payout ratio is 55.34%.

Insider Transactions at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,090 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $105.01, for a total value of $324,480.90. Following the completion of the sale, the director owned 47,335 shares in the company, valued at $4,970,648.35. The trade was a 6.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Arif Husain sold 4,260 shares of the stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total transaction of $434,349.60. Following the transaction, the vice president owned 47,102 shares in the company, valued at $4,802,519.92. The trade was a 8.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price target on T. Rowe Price Group from $109.00 to $111.00 and gave the company an “underweight” rating in a research report on Monday, November 3rd. Zacks Research downgraded T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Deutsche Bank Aktiengesellschaft decreased their price target on T. Rowe Price Group from $113.00 to $106.00 and set a “hold” rating on the stock in a research report on Wednesday. The Goldman Sachs Group cut their price objective on shares of T. Rowe Price Group from $98.00 to $93.00 and set a “sell” rating for the company in a research report on Tuesday, November 25th. Finally, Evercore ISI reduced their price objective on shares of T. Rowe Price Group from $118.00 to $115.00 and set an “in-line” rating for the company in a research note on Friday, December 5th. Twelve investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $108.31.

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.