OneDigital Investment Advisors LLC Buys New Position in T. Rowe Price Group, Inc. $TROW

OneDigital Investment Advisors LLC bought a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 5,797 shares of the asset manager’s stock, valued at approximately $659,000.

Several other hedge funds also recently modified their holdings of TROW. SVB Wealth LLC grew its stake in T. Rowe Price Group by 77.5% in the 4th quarter. SVB Wealth LLC now owns 37,000 shares of the asset manager’s stock worth $3,788,000 after acquiring an additional 16,155 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of T. Rowe Price Group by 3.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 520,782 shares of the asset manager’s stock worth $54,489,000 after purchasing an additional 18,952 shares during the period. Generali Asset Management SPA SGR lifted its stake in shares of T. Rowe Price Group by 1,680.4% during the 4th quarter. Generali Asset Management SPA SGR now owns 17,715 shares of the asset manager’s stock worth $1,814,000 after purchasing an additional 16,720 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of T. Rowe Price Group during the fourth quarter worth $5,935,000. Finally, Norges Bank acquired a new stake in shares of T. Rowe Price Group during the fourth quarter worth $128,283,000. 73.39% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Trading Down 0.1%

Shares of NASDAQ TROW opened at $110.32 on Wednesday. The stock has a fifty day moving average price of $113.71 and a 200 day moving average price of $102.71. T. Rowe Price Group, Inc. has a 12-month low of $85.22 and a 12-month high of $122.00. The company has a market cap of $23.53 billion, a P/E ratio of 11.07, a P/E/G ratio of 4.30 and a beta of 1.47.

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 company had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the previous year, the firm posted $2.24 earnings per share. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. On average, sell-side analysts forecast that T. Rowe Price Group, Inc. will post 10.13 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. The Goldman Sachs Group upped their target price on T. Rowe Price Group from $90.00 to $92.00 and gave the company a “sell” rating in a research note on Tuesday, June 30th. TD Cowen lifted their price target on T. Rowe Price Group from $107.00 to $108.00 and gave the company a “hold” rating in a report on Monday, August 3rd. JPMorgan Chase & Co. dropped their price objective on shares of 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. Evercore set a $118.00 price objective on shares of T. Rowe Price Group in a report on Monday, August 10th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $115.00 target price (down from $120.00) on shares of T. Rowe Price Group in a research report on Monday, August 3rd. Ten research 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 stock presently 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.