Tredje AP fonden Has $4.05 Million Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Tredje AP fonden reduced its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.5% during the 2nd quarter, Holdings Channel reports. The fund owned 35,135 shares of the asset manager’s stock after selling 549 shares during the period. Tredje AP fonden’s holdings in T. Rowe Price Group were worth $4,051,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. Confluence Investment Management LLC bought a new position in shares of T. Rowe Price Group during the first quarter worth approximately $130,386,000. UBS Group AG grew its holdings in T. Rowe Price Group by 473.3% in the 4th quarter. UBS Group AG now owns 975,226 shares of the asset manager’s stock valued at $105,022,000 after buying an additional 805,106 shares in the last quarter. Norges Bank bought a new position in T. Rowe Price Group during the 4th quarter worth $80,831,000. Hsbc Holdings PLC lifted its holdings in shares of T. Rowe Price Group by 66.8% during the fourth quarter. Hsbc Holdings PLC now owns 765,080 shares of the asset manager’s stock worth $82,434,000 after buying an additional 306,524 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its holdings in shares of T. Rowe Price Group by 492.3% during the first quarter. Los Angeles Capital Management LLC now owns 319,887 shares of the asset manager’s stock worth $39,001,000 after buying an additional 265,881 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Price Performance

NASDAQ TROW opened at $108.13 on Thursday. T. Rowe Price Group, Inc. has a fifty-two week low of $87.43 and a fifty-two week high of $122.27. The business has a fifty day moving average price of $109.13 and a two-hundred day moving average price of $113.38. The stock has a market capitalization of $24.07 billion, a PE ratio of 12.84, a PEG ratio of 1.69 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter in the prior year, the firm earned $2.02 EPS. The business’s revenue was up 7.6% on a year-over-year basis. As a group, sell-side analysts expect that T. Rowe Price Group, Inc. will post 9 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, September 27th. Investors of record on Friday, September 13th will be issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 4.59%. The ex-dividend date is Friday, September 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is 58.91%.

Insider Buying and Selling

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the transaction, the insider now directly owns 13,939 shares in the company, valued at $1,459,831.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the transaction, the insider now directly owns 13,939 shares in the company, valued at approximately $1,459,831.47. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $102.83, for a total value 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. Insiders have sold 13,854 shares of company stock worth $1,443,767 in the last 90 days. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on TROW shares. TD Cowen lowered their price target on shares of T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating on the stock in a research report on Monday, July 29th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $120.00 target price (down from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Barclays started coverage on T. Rowe Price Group in a research report on Tuesday, August 27th. They set an “underweight” rating and a $99.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft lifted 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. Three research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $113.30.

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.