Andra AP fonden Sells 38,600 Shares of T. Rowe Price Group, Inc. $TROW

Andra AP fonden trimmed its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 33.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 75,300 shares of the asset manager’s stock after selling 38,600 shares during the period. Andra AP fonden’s holdings in T. Rowe Price Group were worth $7,729,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of TROW. Fidelis Capital Partners LLC bought a new position in T. Rowe Price Group in the third quarter worth approximately $540,000. Candriam S.C.A. increased its stake in shares of T. Rowe Price Group by 20.4% in the 2nd quarter. Candriam S.C.A. now owns 30,931 shares of the asset manager’s stock worth $2,985,000 after purchasing an additional 5,236 shares in the last quarter. Greenspring Advisors LLC bought a new position in T. Rowe Price Group in the 3rd quarter worth $1,583,000. First Citizens Bank & Trust Co. raised its holdings in T. Rowe Price Group by 141.9% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 175,885 shares of the asset manager’s stock worth $18,053,000 after purchasing an additional 103,174 shares during the period. Finally, Allen Wealth Management LLC lifted its position in T. Rowe Price Group by 459.3% during the third quarter. Allen Wealth Management LLC now owns 13,855 shares of the asset manager’s stock valued at $1,422,000 after purchasing an additional 11,378 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Activity

In other T. Rowe Price Group news, VP Arif Husain sold 4,260 shares of the company’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $101.96, for a total transaction of $434,349.60. Following the completion of the sale, the vice president owned 47,102 shares in the company, valued at $4,802,519.92. This represents a 8.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Trading Down 1.9%

TROW stock opened at $94.63 on Friday. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $118.22. The company has a 50-day moving average price of $101.51 and a 200 day moving average price of $103.32. The stock has a market cap of $20.64 billion, a PE ratio of 10.23, a P/E/G ratio of 4.88 and a beta of 1.53.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Wednesday, February 4th. The asset manager reported $2.44 EPS for the quarter, missing the consensus estimate of $2.47 by ($0.03). The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.92 billion. T. Rowe Price Group had a net margin of 28.53% and a return on equity of 20.29%. The business’s revenue was up 6.0% compared to the same quarter last year. During the same period last year, the company earned $2.12 EPS. Sell-side analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Monday, March 16th. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.27. T. Rowe Price Group’s dividend payout ratio is currently 54.92%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on TROW shares. Citigroup lifted their price target on shares of T. Rowe Price Group from $105.00 to $107.00 in a report on Monday, November 3rd. JPMorgan Chase & Co. decreased their price objective on shares of T. Rowe Price Group from $108.00 to $106.00 and set an “underweight” rating on the stock in a research report on Thursday, February 5th. Barclays set a $94.00 target price on shares of T. Rowe Price Group in a research note on Thursday, February 5th. TD Cowen cut their price target on T. Rowe Price Group from $109.00 to $97.00 and set a “hold” rating for the company in a research note on Thursday, February 5th. Finally, BMO Capital Markets decreased their price target on T. Rowe Price Group from $110.00 to $104.00 and set a “market perform” rating on the stock in a report on Thursday, February 12th. Twelve research analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $102.23.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.