Orion Portfolio Solutions LLC Raises Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Orion Portfolio Solutions LLC grew its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 16.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,789 shares of the asset manager’s stock after purchasing an additional 2,464 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in T. Rowe Price Group were worth $2,012,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Pictet Asset Management Holding SA grew its holdings in shares of T. Rowe Price Group by 24.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 211,968 shares of the asset manager’s stock worth $23,971,000 after buying an additional 41,802 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its stake in T. Rowe Price Group by 15.2% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 435,324 shares of the asset manager’s stock valued at $49,231,000 after acquiring an additional 57,405 shares in the last quarter. Norges Bank acquired a new stake in T. Rowe Price Group in the 4th quarter valued at about $117,704,000. Blair William & Co. IL lifted its stake in T. Rowe Price Group by 13.2% in the 4th quarter. Blair William & Co. IL now owns 219,998 shares of the asset manager’s stock worth $24,880,000 after purchasing an additional 25,640 shares in the last quarter. Finally, NEOS Investment Management LLC grew its position in shares of T. Rowe Price Group by 28.9% in the fourth quarter. NEOS Investment Management LLC now owns 11,090 shares of the asset manager’s stock valued at $1,254,000 after purchasing an additional 2,484 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other T. Rowe Price Group news, VP Arif Husain sold 4,112 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total transaction of $449,318.24. Following the transaction, the vice president now directly owns 36,800 shares of the company’s stock, valued at approximately $4,021,136. This trade represents a 10.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert F. Maclellan sold 3,955 shares of the stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $91.56, for a total transaction of $362,119.80. Following the sale, the director now owns 42,979 shares of the company’s stock, valued at $3,935,157.24. This trade represents a 8.43 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TROW. Morgan Stanley cut their target price on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a research note on Monday, February 24th. Wells Fargo & Company decreased their target price on shares of T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Citigroup cut their price target on shares of T. Rowe Price Group from $120.00 to $100.00 and set a “neutral” rating for the company in a report on Monday. Barclays decreased their price objective on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a report on Thursday, February 6th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $113.00 target price (up previously from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $111.82.

T. Rowe Price Group Stock Up 1.8 %

Shares of NASDAQ:TROW opened at $93.90 on Thursday. T. Rowe Price Group, Inc. has a fifty-two week low of $89.70 and a fifty-two week high of $125.81. The stock has a market cap of $20.87 billion, a price-to-earnings ratio of 10.25, a price-to-earnings-growth ratio of 2.86 and a beta of 1.46. The firm’s 50 day moving average price is $103.36 and its 200 day moving average price is $110.62.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same period last year, the firm earned $1.72 EPS. On average, equities analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $1.27 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.41%. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s payout ratio is 55.46%.

T. Rowe Price Group Profile

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.