Osaic Holdings Inc. Grows Stock Position in T. Rowe Price Group, Inc. $TROW

by · The Cerbat Gem

Osaic Holdings Inc. increased its stake in T. Rowe Price Group, Inc. (NASDAQ:TROWFree Report) by 41.1% in the second quarter, HoldingsChannel reports. The fund owned 123,916 shares of the asset manager’s stock after purchasing an additional 36,108 shares during the period. Osaic Holdings Inc.’s holdings in T. Rowe Price Group were worth $11,828,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. TFG Advisers LLC lifted its position in T. Rowe Price Group by 3.6% in the second quarter. TFG Advisers LLC now owns 2,779 shares of the asset manager’s stock valued at $268,000 after purchasing an additional 97 shares during the last quarter. TD Waterhouse Canada Inc. increased its stake in shares of T. Rowe Price Group by 66.7% in the second quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock worth $25,000 after buying an additional 100 shares during the period. Bill Few Associates Inc. increased its stake in shares of T. Rowe Price Group by 4.3% in the second quarter. Bill Few Associates Inc. now owns 2,577 shares of the asset manager’s stock worth $249,000 after buying an additional 107 shares during the period. Dakota Wealth Management raised its holdings in T. Rowe Price Group by 4.7% during the 2nd quarter. Dakota Wealth Management now owns 2,537 shares of the asset manager’s stock valued at $245,000 after buying an additional 114 shares during the last quarter. Finally, Beacon Investment Advisors LLC boosted its position in T. Rowe Price Group by 1.2% during the 2nd quarter. Beacon Investment Advisors LLC now owns 10,256 shares of the asset manager’s stock valued at $986,000 after buying an additional 120 shares during the period. 73.39% of the stock is currently owned by institutional investors.

Insider Activity at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,090 shares of the company’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 sale, the director owned 47,335 shares in the company, valued at $4,970,648.35. This represents a 6.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Arif Husain sold 4,260 shares of T. Rowe Price Group stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total value of $434,349.60. Following the transaction, the vice president owned 47,102 shares of the company’s stock, valued at $4,802,519.92. The trade was a 8.29% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Bank of America boosted their price objective on shares of T. Rowe Price Group from $91.00 to $97.00 and gave the company an “underperform” rating in a research report on Thursday, October 2nd. Deutsche Bank Aktiengesellschaft reduced their price target on T. Rowe Price Group from $113.00 to $106.00 and set a “hold” rating on the stock in a report on Wednesday. Evercore ISI dropped their price objective on T. Rowe Price Group from $118.00 to $115.00 and set an “in-line” rating for the company in a report on Friday, December 5th. JPMorgan Chase & Co. lifted their price objective on T. Rowe Price Group from $109.00 to $111.00 and gave the stock an “underweight” rating in a research report on Monday, November 3rd. Finally, Zacks Research downgraded T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Twelve equities research 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 company has a consensus rating of “Reduce” and an average price target of $108.31.

Read Our Latest Stock Analysis on TROW

T. Rowe Price Group Trading Down 0.0%

Shares of TROW stock opened at $103.28 on Friday. The company’s fifty day moving average price is $102.95 and its 200-day moving average price is $102.74. The stock has a market cap of $22.54 billion, a PE 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 12 month low of $77.85 and a 12 month high of $118.32.

T. Rowe Price Group (NASDAQ:TROWGet Free Report) last issued its quarterly earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.55 by $0.26. T. Rowe Price Group had a net margin of 28.89% and a return on equity of 19.95%. The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same period last year, the company posted $2.57 EPS. T. Rowe Price Group’s revenue was up 6.0% on a year-over-year basis. On average, sell-side analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

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

T. Rowe Price Group Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding TROW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for T. Rowe Price Group, Inc. (NASDAQ:TROWFree Report).