T. Rowe Price Group, Inc. $TROW Shares Bought by Swedbank AB

Swedbank AB boosted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 20.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 51,509 shares of the asset manager’s stock after purchasing an additional 8,917 shares during the period. Swedbank AB’s holdings in T. Rowe Price Group were worth $4,643,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. TD Private Client Wealth LLC raised its holdings in shares of T. Rowe Price Group by 91.8% in the fourth quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock worth $26,000 after buying an additional 123 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its stake in T. Rowe Price Group by 540.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 238 shares during the last quarter. Canton Hathaway LLC acquired a new position in shares of T. Rowe Price Group in the fourth quarter valued at about $31,000. Sound Income Strategies LLC raised its stake in shares of T. Rowe Price Group by 170.3% in the fourth quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock worth $32,000 after purchasing an additional 189 shares during the last quarter. Finally, DV Equities LLC purchased a new position in shares of T. Rowe Price Group in the fourth quarter worth about $32,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

TROW stock traded up $1.50 during trading on Friday, hitting $118.55. 1,785,450 shares of the company traded hands, compared to its average volume of 2,199,676. T. Rowe Price Group, Inc. has a 1 year low of $85.22 and a 1 year high of $121.17. The company has a market cap of $25.40 billion, a PE ratio of 12.71, a P/E/G ratio of 5.91 and a beta of 1.47. The stock’s 50-day simple moving average is $107.60 and its 200 day simple moving average is $100.88.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 EPS for the quarter, topping the consensus estimate of $2.37 by $0.15. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.23 EPS. Research analysts expect that T. Rowe Price Group, Inc. will post 9.76 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 15th were issued a dividend of $1.30 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $5.20 dividend on an annualized basis and a yield of 4.4%. T. Rowe Price Group’s dividend payout ratio is 55.73%.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of T. Rowe Price Group stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total value of $307,680.00. Following the completion of the transaction, the vice president owned 83,883 shares of the company’s stock, valued at approximately $8,603,040.48. The trade was a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. BMO Capital Markets upped their target price on T. Rowe Price Group from $98.00 to $110.00 and gave the company a “market perform” rating in a research report on Monday, May 4th. Jefferies Financial Group decreased their price objective on shares of T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating for the company in a research note on Wednesday, April 8th. The Goldman Sachs Group upped their price objective on shares of T. Rowe Price Group from $90.00 to $92.00 and gave the company a “sell” rating in a report on Tuesday, June 30th. Morgan Stanley increased their price objective on shares of T. Rowe Price Group from $105.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Friday, June 26th. Finally, Zacks Research upgraded shares of T. Rowe Price Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 13th. Ten research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $101.83.

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.