OneDigital Investment Advisors LLC Takes $659,000 Position in T. Rowe Price Group, Inc. $TROW

OneDigital Investment Advisors LLC purchased a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the second quarter, HoldingsChannel.com reports. The firm purchased 5,797 shares of the asset manager’s stock, valued at approximately $659,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TROW. TD Private Client Wealth LLC lifted its holdings in T. Rowe Price Group by 91.8% in the 4th 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 in the last quarter. DV Equities LLC acquired a new stake in shares of T. Rowe Price Group during the fourth quarter valued at about $32,000. Motiv8 Investments LLC purchased a new stake in shares of T. Rowe Price Group during the fourth quarter worth about $35,000. Bank & Trust Co increased its position in shares of T. Rowe Price Group by 52.4% during the second 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 last quarter. Finally, TD Waterhouse Canada Inc. lifted its stake in shares of T. Rowe Price Group by 92.0% in the fourth quarter. TD Waterhouse Canada Inc. now owns 386 shares of the asset manager’s stock worth $40,000 after acquiring an additional 185 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Trading Down 0.1%

Shares of T. Rowe Price Group stock opened at $110.32 on Wednesday. The stock has a market capitalization of $23.53 billion, a price-to-earnings ratio of 11.07, a PEG ratio of 4.30 and a beta of 1.47. T. Rowe Price Group, Inc. has a twelve month low of $85.22 and a twelve month high of $122.00. The business’s 50 day simple moving average is $113.71 and its 200-day simple moving average is $102.71.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, July 31st. The asset manager reported $2.57 EPS 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 firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the prior year, the business earned $2.24 EPS. The firm’s revenue was up 10.7% on a year-over-year basis. Sell-side analysts predict that T. Rowe Price Group, Inc. will post 10.13 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Tuesday, September 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is 52.16%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on TROW shares. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $115.00 price target (down from $120.00) on shares of T. Rowe Price Group in a report on Monday, August 3rd. Weiss Ratings raised T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 2nd. JPMorgan Chase & Co. reduced their target price on T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating for the company in a research note on Friday, April 24th. The Goldman Sachs Group raised their price target on shares of T. Rowe Price Group from $90.00 to $92.00 and gave the stock a “sell” rating in a research report on Tuesday, June 30th. Finally, Barclays dropped their price target on shares of T. Rowe Price Group from $108.00 to $103.00 and set an “underweight” rating for the company in a research note on Monday, August 3rd. Ten 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 currently has an average rating of “Reduce” and a consensus price target of $105.67.

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.