Forsta AP Fonden Raises Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Forsta AP Fonden increased its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 68.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 117,800 shares of the asset manager’s stock after purchasing an additional 47,700 shares during the quarter. Forsta AP Fonden owned 0.05% of T. Rowe Price Group worth $12,832,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. raised its position in T. Rowe Price Group by 14.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 157,068 shares of the asset manager’s stock worth $17,201,000 after purchasing an additional 19,482 shares during the period. Capital Management Associates Inc bought a new stake in T. Rowe Price Group in the 3rd quarter worth $515,000. Ballentine Partners LLC bought a new stake in T. Rowe Price Group in the 3rd quarter worth $285,000. Nicholson Wealth Management Group LLC bought a new stake in T. Rowe Price Group in the 3rd quarter worth $635,000. Finally, Grimes & Company Inc. grew its holdings in T. Rowe Price Group by 1.4% in the 3rd quarter. Grimes & Company Inc. now owns 186,304 shares of the asset manager’s stock worth $20,294,000 after acquiring an additional 2,507 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Trading Down 0.6 %

Shares of TROW opened at $111.33 on Friday. The firm’s 50-day moving average price is $108.08 and its 200-day moving average price is $111.81. The firm has a market capitalization of $24.86 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 1.86 and a beta of 1.41. T. Rowe Price Group, Inc. has a 1-year low of $87.43 and a 1-year high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.01). T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same period in the previous year, the firm earned $2.02 EPS. The company’s revenue was up 7.6% on a year-over-year basis. On average, research analysts forecast that T. Rowe Price Group, Inc. will post 9.09 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 4.46%. The ex-dividend date was Friday, September 13th. T. Rowe Price Group’s payout ratio is currently 58.91%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TROW. Evercore ISI raised their price target on shares of T. Rowe Price Group from $108.00 to $109.00 and gave the stock an “in-line” rating in a report on Friday, October 4th. Barclays raised their price target on shares of T. Rowe Price Group from $99.00 to $101.00 and gave the stock an “underweight” rating in a report on Monday, October 14th. Morgan Stanley raised their price target on shares of T. Rowe Price Group from $125.00 to $127.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. The Goldman Sachs Group cut their price target on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a report on Thursday, October 3rd. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $120.00 price target (down previously from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $113.00.

Insider Buying and Selling

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the sale, the vice president now owns 123,624 shares of the company’s stock, valued at $12,712,255.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $104.73, for a total transaction of $50,689.32. Following the sale, the insider now owns 13,939 shares of the company’s stock, valued at $1,459,831.47. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the completion of the transaction, the vice president now directly owns 123,624 shares of the company’s stock, valued at $12,712,255.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

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.