OFI Invest Asset Management Buys 495 Shares of T. Rowe Price Group, Inc. $TROW

OFI Invest Asset Management increased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 78.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,125 shares of the asset manager’s stock after acquiring an additional 495 shares during the quarter. OFI Invest Asset Management’s holdings in T. Rowe Price Group were worth $109,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of TROW. Park Avenue Securities LLC increased its position in T. Rowe Price Group by 16.5% during the first quarter. Park Avenue Securities LLC now owns 4,879 shares of the asset manager’s stock worth $448,000 after acquiring an additional 691 shares during the period. Farther Finance Advisors LLC increased its position in T. Rowe Price Group by 75.8% during the first quarter. Farther Finance Advisors LLC now owns 7,949 shares of the asset manager’s stock worth $733,000 after acquiring an additional 3,427 shares during the period. GAMMA Investing LLC increased its position in T. Rowe Price Group by 5.1% during the first quarter. GAMMA Investing LLC now owns 3,627 shares of the asset manager’s stock worth $333,000 after acquiring an additional 176 shares during the period. Integrated Advisors Network LLC bought a new position in T. Rowe Price Group during the first quarter worth about $271,000. Finally, CX Institutional bought a new position in T. Rowe Price Group during the first quarter worth about $57,000. 73.39% of the stock is owned by institutional investors.

T. Rowe Price Group Trading Down 4.3%

TROW opened at $101.43 on Monday. The company’s 50 day moving average is $105.82 and its 200-day moving average is $98.49. T. Rowe Price Group, Inc. has a 1-year low of $77.85 and a 1-year high of $125.81. The company has a market cap of $22.29 billion, a P/E ratio of 11.33, a PEG ratio of 6.51 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.09. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. 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 company posted $2.26 EPS. The firm’s quarterly revenue was down .6% compared to the same quarter last year. On average, equities analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date was Monday, September 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 56.76%.

Insider Buying and Selling at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,090 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $105.01, for a total value of $324,480.90. Following the sale, the director directly owned 47,335 shares in the company, valued at approximately $4,970,648.35. This trade represents a 6.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

TROW has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of T. Rowe Price Group in a research report on Wednesday, October 8th. Morgan Stanley raised their target price on shares of T. Rowe Price Group from $116.00 to $125.00 and gave the company a “positive” rating in a report on Monday, October 6th. BMO Capital Markets began coverage on shares of T. Rowe Price Group in a report on Friday, October 3rd. They issued a “market perform” rating and a $108.00 target price on the stock. Jefferies Financial Group raised their target price on shares of T. Rowe Price Group from $104.00 to $106.00 and gave the company a “hold” rating in a report on Tuesday, October 7th. Finally, Wells Fargo & Company raised their target price on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the company an “equal weight” rating in a report on Friday, July 11th. One equities research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, T. Rowe Price Group currently has a consensus rating of “Reduce” and a consensus price target of $106.15.

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.