T. Rowe Price Group, Inc. $TROW Shares Bought by Arbejdsmarkedets Tillaegspension

Arbejdsmarkedets Tillaegspension boosted its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 29.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 285,322 shares of the asset manager’s stock after buying an additional 64,586 shares during the quarter. Arbejdsmarkedets Tillaegspension’s holdings in T. Rowe Price Group were worth $25,719,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Woodline Partners LP grew its holdings in T. Rowe Price Group by 41.0% during the first quarter. Woodline Partners LP now owns 18,809 shares of the asset manager’s stock worth $1,728,000 after acquiring an additional 5,467 shares during the period. Focus Partners Wealth lifted its holdings in T. Rowe Price Group by 10.6% in the first quarter. Focus Partners Wealth now owns 13,054 shares of the asset manager’s stock valued at $1,199,000 after acquiring an additional 1,250 shares during the period. EverSource Wealth Advisors LLC boosted its position in T. Rowe Price Group by 44.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,546 shares of the asset manager’s stock worth $149,000 after purchasing an additional 478 shares in the last quarter. Jump Financial LLC purchased a new stake in T. Rowe Price Group in the 2nd quarter worth approximately $931,000. Finally, Daiwa Securities Group Inc. grew its stake in shares of T. Rowe Price Group by 5.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 33,245 shares of the asset manager’s stock worth $3,208,000 after purchasing an additional 1,703 shares during the period. 73.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TROW. The Goldman Sachs Group lifted their target price 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. JPMorgan Chase & Co. dropped their price target on shares of 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. Evercore set a $121.00 price objective on shares of T. Rowe Price Group in a report on Friday. Weiss Ratings upgraded shares of T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 2nd. Finally, Zacks Research raised shares of T. Rowe Price Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 13th. Ten equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $101.83.

Insiders Place Their Bets

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

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW opened at $118.55 on Monday. The firm has a market cap of $25.40 billion, a PE ratio of 12.71, a PEG ratio of 4.62 and a beta of 1.47. The firm has a fifty day moving average of $107.60 and a 200 day moving average of $100.85. T. Rowe Price Group, Inc. has a one year low of $85.22 and a one year high of $121.17.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.15. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same period last year, the firm posted $2.23 earnings per share. The company’s revenue was up 5.3% compared to the same quarter last year. On average, equities analysts predict that T. Rowe Price Group, Inc. will post 9.89 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 15th were paid a $1.30 dividend. 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 (DPR) is currently 55.73%.

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.