T. Rowe Price Group, Inc. (TROW) Shares Sold by Osborn Williams & Donohoe LLC
Osborn Williams & Donohoe LLC lowered its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 7.4% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,737 shares of the asset manager’s stock after selling 1,491 shares during the period. Osborn Williams & Donohoe LLC’s holdings in T. Rowe Price Group were worth $1,698,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Fulton Bank N.A. bought a new stake in T. Rowe Price Group during the 3rd quarter worth $210,000. Eqis Capital Management Inc. bought a new stake in T. Rowe Price Group during the 3rd quarter worth $303,000. Curbstone Financial Management Corp grew its position in T. Rowe Price Group by 93.9% during the 3rd quarter. Curbstone Financial Management Corp now owns 9,552 shares of the asset manager’s stock worth $866,000 after acquiring an additional 4,626 shares during the last quarter. W. E. Donoghue & Co. LLC bought a new stake in T. Rowe Price Group during the 2nd quarter worth $16,264,000. Finally, Farmers National Bank bought a new stake in T. Rowe Price Group during the 2nd quarter worth $331,000. 73.62% of the stock is owned by institutional investors.
T. Rowe Price Group, Inc. (TROW) traded up 1.22% during midday trading on Wednesday, hitting $95.89. The company’s stock had a trading volume of 313,867 shares. The company has a market cap of $23.05 billion, a PE ratio of 16.46 and a beta of 1.25. T. Rowe Price Group, Inc. has a 52-week low of $62.97 and a 52-week high of $95.92. The stock has a 50 day moving average of $87.25 and a 200 day moving average of $78.08.
T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Tuesday, July 25th. The asset manager reported $1.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.01. T. Rowe Price Group had a return on equity of 24.38% and a net margin of 32.64%. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period last year, the firm earned $0.76 earnings per share. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, equities analysts expect that T. Rowe Price Group, Inc. will post $5.79 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Stockholders of record on Thursday, September 14th were paid a dividend of $0.57 per share. The ex-dividend date was Wednesday, September 13th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.41%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 39.18%.
TROW has been the topic of a number of research reports. Morgan Stanley restated an “underweight” rating and set a $70.00 price objective (up previously from $64.00) on shares of T. Rowe Price Group in a research report on Monday, July 10th. Jefferies Group LLC set a $83.00 price objective on T. Rowe Price Group and gave the stock a “buy” rating in a research report on Tuesday, June 20th. Credit Suisse Group boosted their price objective on T. Rowe Price Group from $70.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 26th. Zacks Investment Research upgraded T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $93.00 price objective on the stock in a research report on Tuesday, September 12th. Finally, Barclays PLC initiated coverage on T. Rowe Price Group in a research report on Friday, September 8th. They set an “underweight” rating and a $79.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. T. Rowe Price Group presently has a consensus rating of “Hold” and a consensus target price of $87.60.
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In other news, CFO Kenneth V. Moreland sold 13,041 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $90.43, for a total transaction of $1,179,297.63. Following the transaction, the chief financial officer now directly owns 135,028 shares of the company’s stock, valued at $12,210,582.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jessica M. Hiebler sold 1,000 shares of the firm’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $84.29, for a total value of $84,290.00. Following the transaction, the insider now directly owns 8,461 shares in the company, valued at $713,177.69. The disclosure for this sale can be found here. Insiders have sold 36,924 shares of company stock worth $3,187,333 over the last ninety days. Insiders own 3.60% of the company’s stock.
About T. Rowe Price Group
T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.
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