Orion Portfolio Solutions LLC Has $1.67 Million Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Orion Portfolio Solutions LLC boosted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 15.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,325 shares of the asset manager’s stock after purchasing an additional 2,053 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in T. Rowe Price Group were worth $1,669,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of T. Rowe Price Group by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock valued at $745,169,000 after purchasing an additional 231,286 shares in the last quarter. Victory Capital Management Inc. grew its position in T. Rowe Price Group by 3.8% in the second quarter. Victory Capital Management Inc. now owns 3,436,019 shares of the asset manager’s stock valued at $396,207,000 after acquiring an additional 124,686 shares during the last quarter. American Century Companies Inc. raised its stake in T. Rowe Price Group by 4.5% during the second quarter. American Century Companies Inc. now owns 2,512,793 shares of the asset manager’s stock worth $289,750,000 after acquiring an additional 107,086 shares in the last quarter. Provident Trust Co. raised its stake in T. Rowe Price Group by 0.3% during the third quarter. Provident Trust Co. now owns 2,397,728 shares of the asset manager’s stock worth $261,185,000 after acquiring an additional 7,905 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in shares of T. Rowe Price Group by 2.6% in the third quarter. Fisher Asset Management LLC now owns 1,861,454 shares of the asset manager’s stock worth $202,768,000 after acquiring an additional 47,998 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their price target on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Evercore ISI boosted their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Barclays increased their price target on T. Rowe Price Group from $110.00 to $115.00 and gave the company an “underweight” rating in a research note on Monday, December 9th. The Goldman Sachs Group cut their price objective on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a report on Thursday, October 3rd. Finally, TD Cowen lowered their target price on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a report on Monday, November 4th. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $117.09.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total value of $499,197.45. Following the transaction, the vice president now directly owns 119,577 shares of the company’s stock, valued at approximately $14,749,822.95. The trade was a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of TROW opened at $119.54 on Friday. The business has a 50-day moving average of $116.67 and a 200-day moving average of $113.26. The company has a market capitalization of $26.56 billion, a price-to-earnings ratio of 13.08, a price-to-earnings-growth ratio of 1.72 and a beta of 1.42. T. Rowe Price Group, Inc. has a 1 year low of $100.49 and a 1 year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The firm had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same quarter last year, the business earned $2.17 EPS. The company’s revenue was up 6.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.39 EPS for the current year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a dividend of $1.24 per share. The ex-dividend date is Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a yield of 4.15%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 54.27%.

T. Rowe Price Group Company 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.