Tredje AP fonden Raises Stock Position in T. Rowe Price Group, Inc. $TROW

Tredje AP fonden increased its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 13.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,015 shares of the asset manager’s stock after purchasing an additional 2,447 shares during the quarter. Tredje AP fonden’s holdings in T. Rowe Price Group were worth $1,931,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Kesler Norman & Wride LLC grew its position in shares of T. Rowe Price Group by 10.8% during the 2nd quarter. Kesler Norman & Wride LLC now owns 14,663 shares of the asset manager’s stock valued at $1,415,000 after acquiring an additional 1,430 shares during the period. Summit Investment Advisory Services LLC bought a new stake in shares of T. Rowe Price Group during the 2nd quarter valued at $270,000. Lifeworks Advisors LLC bought a new stake in shares of T. Rowe Price Group during the 2nd quarter valued at $230,000. Kerusso Capital Management LLC bought a new stake in shares of T. Rowe Price Group during the 2nd quarter valued at $1,624,000. Finally, Creative Financial Designs Inc. ADV grew its position in shares of T. Rowe Price Group by 9.2% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 11,423 shares of the asset manager’s stock valued at $1,102,000 after acquiring an additional 963 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Analyst Ratings Changes

TROW has been the subject of a number of recent research reports. Barclays boosted their price objective on shares of T. Rowe Price Group from $95.00 to $103.00 and gave the company an “underweight” rating in a research report on Tuesday, October 21st. Evercore ISI boosted their price objective on shares of T. Rowe Price Group from $115.00 to $118.00 and gave the company an “in-line” rating in a research report on Thursday, October 9th. TD Cowen boosted their price objective on shares of T. Rowe Price Group from $103.00 to $108.00 and gave the company a “hold” rating in a research report on Wednesday, October 8th. Weiss Ratings restated a “hold (c)” rating on shares of T. Rowe Price Group in a research note on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of T. Rowe Price Group from $109.00 to $114.00 and gave the company a “hold” rating in a research note on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, T. Rowe Price Group currently has an average rating of “Reduce” and an average target price of $107.62.

Insider Buying and Selling

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the business’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $105.01, for a total value of $324,480.90. Following the sale, the director owned 47,335 shares in the company, valued at $4,970,648.35. The trade was a 6.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.00% of the stock is currently owned by insiders.

T. Rowe Price Group Stock Performance

TROW opened at $102.53 on Monday. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81. The firm’s fifty day moving average is $105.08 and its 200 day moving average is $100.32. The stock has a market cap of $22.53 billion, a price-to-earnings ratio of 11.46, a price-to-earnings-growth ratio of 5.61 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, October 31st. The asset manager reported $2.81 EPS for the quarter, topping the consensus estimate of $2.55 by $0.26. The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.88 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.57 EPS. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be paid a $1.27 dividend. The ex-dividend date is Monday, December 15th. This represents a $5.08 annualized dividend and a yield of 5.0%. T. Rowe Price Group’s payout ratio is presently 56.76%.

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.