Forsta AP Fonden Boosts Stake in T. Rowe Price Group, Inc. $TROW

Forsta AP Fonden increased its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROWFree Report) by 53.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 93,800 shares of the asset manager’s stock after buying an additional 32,500 shares during the period. Forsta AP Fonden’s holdings in T. Rowe Price Group were worth $9,603,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. TD Private Client Wealth LLC boosted its position in shares of T. Rowe Price Group by 91.8% during the 4th quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock worth $26,000 after purchasing an additional 123 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of T. Rowe Price Group by 540.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock worth $29,000 after purchasing an additional 238 shares during the period. Canton Hathaway LLC purchased a new position in shares of T. Rowe Price Group during the 4th quarter worth approximately $31,000. Sound Income Strategies LLC boosted its position in shares of T. Rowe Price Group by 170.3% during the 4th quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock worth $32,000 after purchasing an additional 189 shares during the period. Finally, TD Waterhouse Canada Inc. boosted its position in shares of T. Rowe Price Group by 92.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 386 shares of the asset manager’s stock worth $40,000 after purchasing an additional 185 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Stephon A. Jackson sold 3,000 shares of the firm’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total value of $307,680.00. Following the sale, the vice president directly owned 83,883 shares in the company, valued at approximately $8,603,040.48. This trade represents a 3.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

TROW has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods increased their price objective on shares of T. Rowe Price Group from $95.00 to $107.00 and gave the stock a “market perform” rating in a research report on Friday, May 1st. Jefferies Financial Group lowered their price objective on shares of T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating for the company in a research report on Wednesday, April 8th. TD Cowen increased their price objective on shares of T. Rowe Price Group from $93.00 to $94.00 and gave the stock a “hold” rating in a research report on Friday, May 1st. Evercore decreased their price target on shares of T. Rowe Price Group from $106.00 to $104.00 in a research report on Monday, May 11th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of T. Rowe Price Group in a research report on Friday, May 8th. Eleven analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $99.54.

Check Out Our Latest Research Report on T. Rowe Price Group

T. Rowe Price Group Price Performance

Shares of TROW stock opened at $104.53 on Monday. T. Rowe Price Group, Inc. has a 52 week low of $85.22 and a 52 week high of $118.22. The stock has a market capitalization of $22.40 billion, a PE ratio of 11.20, a P/E/G ratio of 5.35 and a beta of 1.50. The firm has a 50 day moving average of $97.35 and a two-hundred day moving average of $99.22.

T. Rowe Price Group (NASDAQ:TROWGet Free Report) last issued its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 EPS for the quarter, beating the consensus estimate of $2.37 by $0.15. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter last year, the company posted $2.23 EPS. The firm’s revenue was up 5.3% compared to the same quarter last year. Analysts expect that T. Rowe Price Group, Inc. will post 9.63 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Monday, June 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 55.73%.

About T. Rowe Price Group

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding TROW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for T. Rowe Price Group, Inc. (NASDAQ:TROWFree Report).

Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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