T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Bought by Handelsbanken Fonder AB

Handelsbanken Fonder AB increased its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 49,745 shares of the asset manager’s stock after buying an additional 2,297 shares during the quarter. Handelsbanken Fonder AB’s holdings in T. Rowe Price Group were worth $4,570,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of TROW. Kestra Private Wealth Services LLC increased its holdings in T. Rowe Price Group by 12.3% in the 4th quarter. Kestra Private Wealth Services LLC now owns 4,730 shares of the asset manager’s stock worth $535,000 after buying an additional 518 shares during the period. Stonebridge Financial Group LLC acquired a new position in T. Rowe Price Group in the 4th quarter worth approximately $32,000. Avidian Wealth Enterprises LLC increased its holdings in T. Rowe Price Group by 68.7% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 4,059 shares of the asset manager’s stock worth $459,000 after buying an additional 1,653 shares during the period. Asset Management One Co. Ltd. increased its holdings in T. Rowe Price Group by 1.0% in the 4th quarter. Asset Management One Co. Ltd. now owns 88,053 shares of the asset manager’s stock worth $10,185,000 after buying an additional 871 shares during the period. Finally, V Square Quantitative Management LLC increased its holdings in T. Rowe Price Group by 11.1% in the 4th quarter. V Square Quantitative Management LLC now owns 7,015 shares of the asset manager’s stock worth $793,000 after buying an additional 699 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $91.58 on Friday. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81. The firm has a market capitalization of $20.18 billion, a price-to-earnings ratio of 10.00, a price-to-earnings-growth ratio of 2.86 and a beta of 1.49. The business’s 50 day moving average price is $91.66 and its 200-day moving average price is $102.59.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.10. T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter last year, the firm posted $2.38 EPS. The business’s revenue was up .8% on a year-over-year basis. On average, sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be issued a $1.27 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $5.08 dividend on an annualized basis and a yield of 5.55%. T. Rowe Price Group’s payout ratio is currently 57.60%.

Wall Street Analyst Weigh In

TROW has been the topic of several recent research reports. The Goldman Sachs Group lowered their price objective on T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating on the stock in a research report on Monday, April 14th. Evercore ISI lowered their price objective on T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating on the stock in a research report on Friday, April 11th. Barclays upped their price objective on T. Rowe Price Group from $85.00 to $90.00 and gave the stock an “underweight” rating in a research report on Monday, May 5th. Cowen restated a “hold” rating on shares of T. Rowe Price Group in a research report on Monday, May 5th. Finally, Bank of America lowered their price objective on T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating on the stock in a research report on Thursday, April 3rd. Four equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $94.09.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of the firm’s stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total value of $190,860.00. Following the transaction, the vice president now owns 44,789 shares in the company, valued at approximately $4,274,214.27. This trade represents a 4.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert F. Maclellan sold 3,955 shares of the firm’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $91.56, for a total value of $362,119.80. Following the completion of the transaction, the director now owns 42,979 shares in the company, valued at $3,935,157.24. The trade was a 8.43% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,923 shares of company stock worth $646,856. Corporate insiders own 2.00% of the company’s stock.

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.