Arbejdsmarkedets Tillaegspension Makes New Investment in T. Rowe Price Group, Inc. $TROW

Arbejdsmarkedets Tillaegspension acquired a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 220,736 shares of the asset manager’s stock, valued at approximately $22,599,000.

A number of other institutional investors and hedge funds also recently modified their holdings of TROW. PFA Pension Forsikringsaktieselskab acquired a new stake in shares of T. Rowe Price Group during the 4th quarter valued at $61,073,000. Caisse de depot et placement du Quebec lifted its position in shares of T. Rowe Price Group by 81.0% during the 3rd quarter. Caisse de depot et placement du Quebec now owns 1,306,922 shares of the asset manager’s stock valued at $134,142,000 after acquiring an additional 584,949 shares during the last quarter. Anchyra Partners LLC acquired a new stake in shares of T. Rowe Price Group during the 4th quarter valued at $48,012,000. Marshall Wace LLP purchased a new stake in shares of T. Rowe Price Group in the third quarter valued at $34,034,000. Finally, Nordea Investment Management AB lifted its holdings in shares of T. Rowe Price Group by 1,307.4% in the fourth quarter. Nordea Investment Management AB now owns 325,029 shares of the asset manager’s stock valued at $33,377,000 after purchasing an additional 301,934 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Stock Performance

NASDAQ TROW opened at $102.01 on Friday. The firm has a 50-day simple moving average of $94.55 and a 200 day simple moving average of $99.23. T. Rowe Price Group, Inc. has a twelve month low of $85.22 and a twelve month high of $118.22. The stock has a market cap of $21.86 billion, a PE ratio of 10.93, a PEG ratio of 4.48 and a beta of 1.51.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.37 by $0.15. The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.85 billion. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.23 earnings per share. Research analysts forecast that T. Rowe Price Group, Inc. will post 9.61 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be paid a $1.30 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $5.20 dividend on an annualized basis and a yield of 5.1%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 55.73%.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president directly owned 83,883 shares of the company’s stock, valued at approximately $8,603,040.48. This trade represents a 3.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TROW. Deutsche Bank Aktiengesellschaft reduced their target price on T. Rowe Price Group from $106.00 to $100.00 and set a “hold” rating for the company in a report on Thursday, February 5th. Argus upgraded T. Rowe Price Group to a “hold” rating in a report on Thursday, February 5th. JPMorgan Chase & Co. reduced their target price on T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating for the company in a report on Friday, April 24th. Barclays increased their target price 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. Finally, Morgan Stanley set a $105.00 target price on T. Rowe Price Group in a report on Monday, April 27th. Eleven equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $99.54.

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.