Skandinaviska Enskilda Banken AB publ Lowers Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Skandinaviska Enskilda Banken AB publ decreased its position in T. Rowe Price Group, Inc. (NASDAQ:TROWFree Report) by 1.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,756 shares of the asset manager’s stock after selling 761 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in T. Rowe Price Group were worth $4,379,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TROW. Fairfield Bush & CO. purchased a new stake in T. Rowe Price Group in the first quarter valued at approximately $150,000. Roundview Capital LLC acquired a new position in shares of T. Rowe Price Group in the first quarter worth $2,092,000. Cibc World Market Inc. grew its stake in shares of T. Rowe Price Group by 75.9% in the first quarter. Cibc World Market Inc. now owns 27,065 shares of the asset manager’s stock worth $4,092,000 after acquiring an additional 11,675 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of T. Rowe Price Group by 5.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,158,038 shares of the asset manager’s stock worth $175,099,000 after acquiring an additional 60,580 shares in the last quarter. Finally, Prudential PLC grew its stake in shares of T. Rowe Price Group by 47.1% in the first quarter. Prudential PLC now owns 12,117 shares of the asset manager’s stock worth $1,832,000 after acquiring an additional 3,880 shares in the last quarter. Hedge funds and other institutional investors own 75.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Friday. TD Cowen began coverage on shares of T. Rowe Price Group in a research note on Thursday, January 4th. They set an “underperform” rating and a $88.00 target price for the company. Wells Fargo & Company upped their price objective on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a research note on Friday. UBS Group upped their price objective on shares of T. Rowe Price Group from $86.00 to $102.00 and gave the company a “sell” rating in a research note on Wednesday, January 10th. Finally, Citigroup upgraded shares of T. Rowe Price Group from a “sell” rating to a “neutral” rating and decreased their price objective for the company from $100.00 to $95.00 in a research note on Tuesday, October 31st. Six equities research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat.com, T. Rowe Price Group currently has an average rating of “Reduce” and a consensus price target of $97.30.

View Our Latest Report on TROW

Insider Buying and Selling

In other news, insider Jessica M. Hiebler sold 1,138 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $107.13, for a total value of $121,913.94. Following the completion of the transaction, the insider now directly owns 14,113 shares of the company’s stock, valued at $1,511,925.69. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Jessica M. Hiebler sold 1,138 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $107.13, for a total value of $121,913.94. Following the completion of the transaction, the insider now directly owns 14,113 shares of the company’s stock, valued at $1,511,925.69. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider William J. Stromberg sold 10,000 shares of the business’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $98.48, for a total value of $984,800.00. Following the completion of the transaction, the insider now directly owns 49,000 shares of the company’s stock, valued at $4,825,520. The disclosure for this sale can be found here. Insiders sold 74,458 shares of company stock valued at $7,359,792 over the last ninety days. Corporate insiders own 2.10% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of NASDAQ:TROW opened at $109.99 on Tuesday. The stock has a market capitalization of $24.54 billion, a price-to-earnings ratio of 14.17, a PEG ratio of 2.39 and a beta of 1.40. T. Rowe Price Group, Inc. has a one year low of $87.43 and a one year high of $132.76. The company has a 50-day simple moving average of $107.20 and a 200-day simple moving average of $105.34.

T. Rowe Price Group (NASDAQ:TROWGet Free Report) last posted its quarterly earnings results on Thursday, February 8th. The asset manager reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.12. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.50%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.74 earnings per share. As a group, research analysts forecast that T. Rowe Price Group, Inc. will post 7.41 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Friday, March 15th will be issued a dividend of $1.24 per share. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.22. This represents a $4.96 annualized dividend and a yield of 4.51%. The ex-dividend date of this dividend is Thursday, March 14th. T. Rowe Price Group’s dividend payout ratio is currently 62.89%.

T. Rowe Price Group Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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