Andra AP fonden Sells 14,600 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Andra AP fonden decreased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 17.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,700 shares of the asset manager’s stock after selling 14,600 shares during the quarter. Andra AP fonden’s holdings in T. Rowe Price Group were worth $7,806,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Principal Securities Inc. acquired a new stake in shares of T. Rowe Price Group during the 4th quarter worth approximately $53,000. AGF Management Ltd. acquired a new stake in shares of T. Rowe Price Group in the 4th quarter valued at $530,000. Dimensional Fund Advisors LP increased its stake in shares of T. Rowe Price Group by 21.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,352,683 shares of the asset manager’s stock valued at $145,685,000 after purchasing an additional 236,697 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of T. Rowe Price Group by 8.0% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 301,587 shares of the asset manager’s stock worth $32,056,000 after buying an additional 22,299 shares in the last quarter. Finally, Taylor Hoffman Wealth Management lifted its position in shares of T. Rowe Price Group by 10.2% during the 4th quarter. Taylor Hoffman Wealth Management now owns 35,054 shares of the asset manager’s stock worth $3,775,000 after buying an additional 3,235 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the transaction, the vice president now owns 123,624 shares in the company, valued at $12,712,255.92. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Jessica M. Hiebler sold 1,401 shares of T. Rowe Price Group stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $115.85, for a total value of $162,305.85. Following the completion of the sale, the insider now owns 14,198 shares in the company, valued at approximately $1,644,838.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the transaction, the vice president now directly owns 123,624 shares in the company, valued at $12,712,255.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,370 shares of company stock valued at $1,627,078. 2.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on TROW shares. JPMorgan Chase & Co. lifted their target price on T. Rowe Price Group from $102.00 to $107.00 and gave the company an “underweight” rating in a research report on Tuesday, July 23rd. Barclays began coverage on shares of T. Rowe Price Group in a research note on Tuesday, August 27th. They issued an “underweight” rating and a $99.00 price objective for the company. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $120.00 target price (down previously from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. Evercore ISI lowered their price target on shares of T. Rowe Price Group from $115.00 to $108.00 and set an “in-line” rating for the company in a report on Thursday, September 5th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Four equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $113.20.

T. Rowe Price Group Stock Up 0.4 %

NASDAQ TROW opened at $104.11 on Thursday. The company has a market capitalization of $23.17 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 1.62 and a beta of 1.41. T. Rowe Price Group, Inc. has a twelve month low of $87.43 and a twelve month high of $122.27. The stock has a fifty day simple moving average of $110.02 and a 200 day simple moving average of $113.58.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share for the quarter, missing the consensus estimate of $2.27 by ($0.01). The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.79 billion. T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The company’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.02 EPS. Research analysts expect that T. Rowe Price Group, Inc. will post 9 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a $1.24 dividend. The ex-dividend date is Friday, September 13th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.76%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 58.91%.

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.