Skandinaviska Enskilda Banken AB publ Raises Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Skandinaviska Enskilda Banken AB publ boosted its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 43,293 shares of the asset manager’s stock after purchasing an additional 600 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in T. Rowe Price Group were worth $4,994,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Lynx Investment Advisory bought a new position in shares of T. Rowe Price Group in the second quarter worth approximately $29,000. Family Firm Inc. bought a new position in shares of T. Rowe Price Group in the 2nd quarter worth $36,000. Versant Capital Management Inc raised its position in shares of T. Rowe Price Group by 660.5% during the 2nd quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock valued at $38,000 after buying an additional 284 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of T. Rowe Price Group by 93.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 331 shares of the asset manager’s stock valued at $40,000 after buying an additional 160 shares in the last quarter. Finally, Riverview Trust Co lifted its holdings in shares of T. Rowe Price Group by 136.4% during the 2nd quarter. Riverview Trust Co now owns 357 shares of the asset manager’s stock worth $41,000 after acquiring an additional 206 shares during the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other T. Rowe Price Group 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 transaction of $1,230,772.27. Following the transaction, the vice president now directly owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Jessica M. Hiebler sold 1,401 shares of T. Rowe Price Group stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total transaction of $162,305.85. Following the sale, the insider now directly owns 14,198 shares in the company, valued at $1,644,838.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $1,230,772.27. Following the sale, the vice president now owns 123,624 shares in the company, valued at approximately $12,712,255.92. The disclosure for this sale can be found here. Insiders sold 13,854 shares of company stock valued at $1,443,767 over the last quarter. 2.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on TROW shares. Barclays assumed coverage on T. Rowe Price Group in a research note on Tuesday, August 27th. They issued an “underweight” rating and a $99.00 target price on the stock. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods reaffirmed 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 note on Monday, July 29th. JPMorgan Chase & Co. lifted their price target on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 23rd. Finally, TD Cowen cut their price objective on shares of T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating for the company in a research note on Monday, July 29th. Three equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to data from MarketBeat.com, T. Rowe Price Group has a consensus rating of “Hold” and an average target price of $113.30.

T. Rowe Price Group Stock Down 2.0 %

NASDAQ:TROW opened at $108.29 on Monday. The firm has a market capitalization of $24.18 billion, a P/E ratio of 12.86, a P/E/G ratio of 1.69 and a beta of 1.41. T. Rowe Price Group, Inc. has a 52 week low of $87.43 and a 52 week high of $122.27. The company has a fifty day moving average of $108.80 and a 200 day moving average of $113.25.

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

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a dividend of $1.24 per share. The ex-dividend date is Friday, September 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.58%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 58.91%.

T. Rowe Price Group 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.