Swedbank AB Has $4.07 Million Stock Position in T. Rowe Price Group, Inc. $TROW

Swedbank AB boosted its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 337.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 42,152 shares of the asset manager’s stock after purchasing an additional 32,522 shares during the quarter. Swedbank AB’s holdings in T. Rowe Price Group were worth $4,068,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Zions Bancorporation National Association UT bought a new stake in T. Rowe Price Group in the first quarter worth approximately $27,000. Hexagon Capital Partners LLC increased its holdings in shares of T. Rowe Price Group by 44.8% during the first quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager’s stock valued at $34,000 after acquiring an additional 113 shares in the last quarter. Smallwood Wealth Investment Management LLC bought a new stake in shares of T. Rowe Price Group during the first quarter valued at approximately $39,000. Chilton Capital Management LLC bought a new stake in shares of T. Rowe Price Group during the first quarter valued at approximately $41,000. Finally, Ameriflex Group Inc. bought a new stake in T. Rowe Price Group during the fourth quarter worth $42,000. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Trading Up 0.2%

Shares of TROW opened at $105.99 on Monday. The stock has a 50-day moving average price of $106.09 and a 200-day moving average price of $97.55. The company has a market cap of $23.29 billion, a PE ratio of 11.84, a price-to-earnings-growth ratio of 2.75 and a beta of 1.51. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.09. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.72 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.T. Rowe Price Group’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.26 EPS. As a group, analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be given a $1.27 dividend. The ex-dividend date is Monday, September 15th. This represents a $5.08 dividend on an annualized basis and a yield of 4.8%. T. Rowe Price Group’s payout ratio is presently 56.76%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TROW. Barclays reiterated an “underweight” rating and set a $95.00 price target (up previously from $91.00) on shares of T. Rowe Price Group in a report on Monday, August 4th. Morgan Stanley boosted their price objective on T. Rowe Price Group from $112.00 to $116.00 and gave the stock an “equal weight” rating in a research report on Monday, August 4th. Evercore ISI reissued a “positive” rating on shares of T. Rowe Price Group in a research report on Friday, September 5th. Zacks Research cut T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Finally, Keefe, Bruyette & Woods boosted their price objective on T. Rowe Price Group from $110.00 to $112.00 and gave the stock a “market perform” rating in a research report on Monday, August 4th. One analyst has rated the stock with a Buy rating, eight have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $101.55.

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.