SEB Asset Management AB Invests $4.73 Million in T. Rowe Price Group, Inc. $TROW

SEB Asset Management AB bought a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 52,470 shares of the asset manager’s stock, valued at approximately $4,730,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. TD Private Client Wealth LLC increased its stake in T. Rowe Price Group by 91.8% in the 4th quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock worth $26,000 after purchasing an additional 123 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its stake in T. Rowe Price Group by 540.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock valued at $29,000 after buying an additional 238 shares in the last quarter. Canton Hathaway LLC purchased a new stake in T. Rowe Price Group during the fourth quarter valued at about $31,000. Sound Income Strategies LLC boosted its holdings in shares of T. Rowe Price Group by 170.3% in the fourth quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock worth $32,000 after buying an additional 189 shares during the period. Finally, DV Equities LLC acquired a new position in shares of T. Rowe Price Group in the fourth quarter worth about $32,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of TROW opened at $116.01 on Thursday. The company has a market capitalization of $24.86 billion, a price-to-earnings ratio of 12.43, a P/E/G ratio of 4.21 and a beta of 1.47. T. Rowe Price Group, Inc. has a fifty-two week low of $85.22 and a fifty-two week high of $121.17. The business’s 50-day moving average is $109.64 and its 200-day moving average is $101.60.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $1.85 billion. During the same period last year, the company posted $2.23 earnings per share. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. Equities research analysts expect that T. Rowe Price Group, Inc. will post 10.13 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were given a $1.30 dividend. The ex-dividend date was Monday, June 15th. This represents a $5.20 dividend on an annualized basis and a yield of 4.5%. T. Rowe Price Group’s dividend payout ratio 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 T. Rowe Price Group stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total transaction of $307,680.00. Following the completion of the sale, the vice president owned 83,883 shares of the company’s stock, valued at $8,603,040.48. This trade represents a 3.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on TROW shares. The Goldman Sachs Group boosted their price target 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. Evercore set a $121.00 price objective on shares of T. Rowe Price Group in a research note on Friday, July 10th. Morgan Stanley lifted their price objective on shares of T. Rowe Price Group from $105.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Friday, June 26th. Keefe, Bruyette & Woods boosted their target price on shares of T. Rowe Price Group from $107.00 to $120.00 and gave the company a “market perform” rating in a research note on Friday, July 10th. Finally, BMO Capital Markets increased their target price on T. Rowe Price Group from $98.00 to $110.00 and gave the company a “market perform” rating in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, T. Rowe Price Group presently has a consensus rating of “Reduce” and a consensus price target of $104.50.

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.