Handelsbanken Fonder AB Acquires 1,877 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Handelsbanken Fonder AB increased its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 6.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,042 shares of the asset manager’s stock after purchasing an additional 1,877 shares during the quarter. Handelsbanken Fonder AB’s holdings in T. Rowe Price Group were worth $3,451,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Clear Harbor Asset Management LLC raised its holdings in shares of T. Rowe Price Group by 3.2% during the fourth quarter. Clear Harbor Asset Management LLC now owns 3,240 shares of the asset manager’s stock valued at $349,000 after purchasing an additional 100 shares during the period. Caprock Group LLC raised its holdings in shares of T. Rowe Price Group by 4.7% during the fourth quarter. Caprock Group LLC now owns 2,251 shares of the asset manager’s stock valued at $242,000 after purchasing an additional 101 shares during the period. Roundview Capital LLC raised its holdings in shares of T. Rowe Price Group by 0.5% during the third quarter. Roundview Capital LLC now owns 22,279 shares of the asset manager’s stock valued at $2,336,000 after purchasing an additional 105 shares during the period. Creative Financial Designs Inc. ADV raised its holdings in shares of T. Rowe Price Group by 83.5% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 106 shares during the period. Finally, Simplicity Solutions LLC raised its holdings in shares of T. Rowe Price Group by 3.4% during the third quarter. Simplicity Solutions LLC now owns 3,391 shares of the asset manager’s stock valued at $356,000 after purchasing an additional 112 shares during the period. Institutional investors own 73.39% of the company’s stock.

Insider Buying and Selling

In related news, insider Jessica M. Hiebler sold 1,138 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $107.13, for a total value of $121,913.94. Following the completion of the transaction, the insider now directly owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Jessica M. Hiebler sold 1,138 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $107.13, for a total value of $121,913.94. Following the completion of the transaction, the insider now directly owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the completion of the transaction, the director now directly owns 21,073 shares of the company’s stock, valued at $2,493,357.36. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

T. Rowe Price Group Stock Performance

Shares of TROW stock opened at $114.02 on Friday. T. Rowe Price Group, Inc. has a 52-week low of $87.43 and a 52-week high of $132.76. The company has a 50-day simple moving average of $115.10 and a two-hundred day simple moving average of $107.07. The company has a market capitalization of $25.50 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 2.04 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.34. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.41%. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the prior year, the firm earned $1.69 EPS. The company’s revenue was up 13.8% compared to the same quarter last year. On average, sell-side analysts forecast that T. Rowe Price Group, Inc. will post 8.36 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a dividend of $1.24 per share. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.22. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date of this dividend was Thursday, March 14th. T. Rowe Price Group’s dividend payout ratio is currently 63.92%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Morgan Stanley upped their price objective on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a report on Wednesday, April 17th. UBS Group upped their target price on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a report on Friday, April 12th. JPMorgan Chase & Co. upped their target price on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. Keefe, Bruyette & Woods upgraded shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and upped their target price for the stock from $106.00 to $120.00 in a report on Thursday, April 11th. Finally, StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Four equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $112.67.

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.