Handelsbanken Fonder AB Boosts Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Handelsbanken Fonder AB lifted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 49,745 shares of the asset manager’s stock after acquiring an additional 2,297 shares during the period. Handelsbanken Fonder AB’s holdings in T. Rowe Price Group were worth $4,570,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Addison Advisors LLC raised its holdings in shares of T. Rowe Price Group by 67.4% during the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock worth $26,000 after acquiring an additional 93 shares during the period. Curio Wealth LLC purchased a new position in shares of T. Rowe Price Group during the 4th quarter worth $27,000. Stonebridge Financial Group LLC purchased a new position in shares of T. Rowe Price Group during the 4th quarter worth $32,000. Advantage Trust Co raised its holdings in shares of T. Rowe Price Group by 48.8% during the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock worth $34,000 after acquiring an additional 100 shares during the period. Finally, Ameriflex Group Inc. purchased a new position in shares of T. Rowe Price Group during the 4th quarter worth $42,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insiders Place Their Bets

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,955 shares of the firm’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $91.56, for a total transaction of $362,119.80. Following the sale, the director now directly owns 42,979 shares of the company’s stock, valued at $3,935,157.24. This trade represents a 8.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Dorothy C. Sawyer sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total transaction of $190,860.00. Following the completion of the sale, the vice president now directly owns 44,789 shares in the company, valued at $4,274,214.27. This represents a 4.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,923 shares of company stock valued at $646,856 in the last ninety days. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Trading Down 3.2%

NASDAQ:TROW opened at $91.58 on Friday. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81. The company has a market capitalization of $20.18 billion, a P/E ratio of 10.00, a price-to-earnings-growth ratio of 2.86 and a beta of 1.49. The firm has a 50-day moving average price of $91.66 and a two-hundred day moving average price of $102.59.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.10. T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. The company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period last year, the company earned $2.38 EPS. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. On average, equities research 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 declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a dividend of $1.27 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $5.08 annualized dividend and a dividend yield of 5.55%. T. Rowe Price Group’s dividend payout ratio is currently 57.60%.

Analysts Set New Price Targets

TROW has been the subject of a number of recent analyst reports. Morgan Stanley raised their price objective on T. Rowe Price Group from $94.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 6th. TD Cowen decreased their price objective on shares of T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, April 9th. The Goldman Sachs Group cut their target price on shares of T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating on the stock in a research note on Monday, April 14th. Wells Fargo & Company dropped their price objective on shares of T. Rowe Price Group from $116.00 to $98.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. Finally, Cowen reissued a “hold” rating on shares of T. Rowe Price Group in a research report on Monday, May 5th. Four equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the company’s stock. According to MarketBeat, T. Rowe Price Group has an average rating of “Hold” and a consensus price target of $94.09.

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.