OmniStar Financial Group Inc. Sells 514 Shares of T. Rowe Price Group, Inc. $TROW

OmniStar Financial Group Inc. reduced its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 15.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 2,838 shares of the asset manager’s stock after selling 514 shares during the quarter. OmniStar Financial Group Inc.’s holdings in T. Rowe Price Group were worth $274,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Zions Bancorporation National Association UT bought a new stake in shares of T. Rowe Price Group in the first quarter worth $27,000. Atlantic Union Bankshares Corp acquired a new position in T. Rowe Price Group during the 2nd quarter worth about $35,000. Curio Wealth LLC grew its position in shares of T. Rowe Price Group by 20,700.0% in the 2nd quarter. Curio Wealth LLC now owns 416 shares of the asset manager’s stock valued at $40,000 after buying an additional 414 shares during the last quarter. Cromwell Holdings LLC increased its stake in shares of T. Rowe Price Group by 3,483.3% in the second quarter. Cromwell Holdings LLC now owns 430 shares of the asset manager’s stock valued at $41,000 after buying an additional 418 shares during the period. Finally, Bogart Wealth LLC raised its position in shares of T. Rowe Price Group by 1,787.5% during the second quarter. Bogart Wealth LLC now owns 453 shares of the asset manager’s stock worth $44,000 after acquiring an additional 429 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on TROW shares. Deutsche Bank Aktiengesellschaft upped their target price on T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a report on Friday. Keefe, Bruyette & Woods boosted their price target on shares of T. Rowe Price Group from $115.00 to $117.00 and gave the stock a “market perform” rating in a research report on Monday, November 3rd. Morgan Stanley upped their price objective on shares of T. Rowe Price Group from $125.00 to $126.00 and gave the company an “equal weight” rating in a research note on Monday, October 27th. TD Cowen lifted their target price on shares of T. Rowe Price Group from $108.00 to $112.00 and gave the stock a “hold” rating in a research note on Monday, November 3rd. Finally, Barclays set a $101.00 target price on shares of T. Rowe Price Group in a report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, T. Rowe Price Group currently has an average rating of “Reduce” and a consensus target price of $109.38.

T. Rowe Price Group Stock Down 1.9%

T. Rowe Price Group stock opened at $101.72 on Friday. The company has a market capitalization of $22.20 billion, a PE ratio of 11.37, a PEG ratio of 5.61 and a beta of 1.51. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $125.81. The firm’s fifty day moving average is $104.02 and its 200 day moving average is $101.23.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.26. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.88 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The business’s revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.57 earnings per share. Sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be issued a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend is Monday, December 15th. T. Rowe Price Group’s payout ratio is currently 55.34%.

Insider Activity at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,090 shares of the company’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $105.01, for a total transaction of $324,480.90. Following the completion of the sale, the director owned 47,335 shares in the company, valued at approximately $4,970,648.35. This represents a 6.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.00% of the stock is currently owned by company insiders.

About T. Rowe Price Group

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.