Fjarde AP Fonden Fourth Swedish National Pension Fund Buys 23,500 Shares of T. Rowe Price Group, Inc. $TROW

Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 52.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 68,577 shares of the asset manager’s stock after acquiring an additional 23,500 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in T. Rowe Price Group were worth $6,182,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. State Street Corp raised its position in shares of T. Rowe Price Group by 0.3% during the 4th quarter. State Street Corp now owns 14,159,797 shares of the asset manager’s stock valued at $1,449,680,000 after buying an additional 45,530 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in T. Rowe Price Group by 332.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager’s stock worth $897,880,000 after purchasing an additional 6,740,172 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in T. Rowe Price Group by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,073,846 shares of the asset manager’s stock valued at $826,600,000 after buying an additional 143,109 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of T. Rowe Price Group by 3.9% during the fourth quarter. Invesco Ltd. now owns 3,520,858 shares of the asset manager’s stock worth $360,465,000 after purchasing an additional 131,438 shares during the period. Finally, Morgan Stanley grew its position in shares of T. Rowe Price Group by 16.0% in the 4th quarter. Morgan Stanley now owns 3,443,322 shares of the asset manager’s stock worth $352,528,000 after buying an additional 476,219 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors.

Insider Activity at T. Rowe Price Group

In other news, VP Stephon A. Jackson sold 3,000 shares of the business’s stock in a transaction on Wednesday, May 13th. The stock was 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 directly 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on TROW. JPMorgan Chase & Co. cut their price objective on T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating on the stock in a research report on Friday, April 24th. Barclays upped their price target on T. Rowe Price Group from $87.00 to $89.00 and gave the company an “underweight” rating in a report on Friday, May 1st. Jefferies Financial Group cut their target price on shares of T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating for the company in a research report on Wednesday, April 8th. Keefe, Bruyette & Woods upped their price target on T. Rowe Price Group from $95.00 to $107.00 and gave the stock a “market perform” rating in a research report on Friday, May 1st. Finally, Zacks Research upgraded shares of T. Rowe Price Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 13th. Eleven analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $100.54.

T. Rowe Price Group Stock Performance

TROW stock opened at $118.55 on Monday. The company has a 50-day moving average price of $105.76 and a 200 day moving average price of $100.34. The stock has a market cap of $25.40 billion, a PE ratio of 12.71, a P/E/G ratio of 6.02 and a beta of 1.47. T. Rowe Price Group, Inc. has a 12 month low of $85.22 and a 12 month high of $118.64.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates 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 revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.23 earnings per share. Sell-side analysts forecast that T. Rowe Price Group, Inc. will post 9.69 EPS for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed 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. This represents a $5.20 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend was Monday, June 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 55.73%.

T. Rowe Price Group 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.