Swedbank AB Sells 134 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Swedbank AB reduced its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,630 shares of the asset manager’s stock after selling 134 shares during the quarter. Swedbank AB’s holdings in T. Rowe Price Group were worth $1,049,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Nomura Holdings Inc. acquired a new stake in T. Rowe Price Group during the 4th quarter worth about $691,000. GAMMA Investing LLC boosted its position in shares of T. Rowe Price Group by 39.7% during the 1st quarter. GAMMA Investing LLC now owns 1,791 shares of the asset manager’s stock valued at $218,000 after purchasing an additional 509 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its stake in T. Rowe Price Group by 7.5% during the first quarter. Massmutual Trust Co. FSB ADV now owns 1,236 shares of the asset manager’s stock worth $151,000 after purchasing an additional 86 shares during the period. Czech National Bank grew its stake in T. Rowe Price Group by 0.7% during the first quarter. Czech National Bank now owns 39,395 shares of the asset manager’s stock worth $4,803,000 after purchasing an additional 255 shares during the period. Finally, Banque Cantonale Vaudoise increased its holdings in T. Rowe Price Group by 137.1% in the first quarter. Banque Cantonale Vaudoise now owns 19,977 shares of the asset manager’s stock worth $2,436,000 after purchasing an additional 11,551 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW opened at $115.63 on Friday. The firm’s 50-day simple moving average is $107.54 and its 200 day simple moving average is $112.05. The stock has a market cap of $25.82 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 1.84 and a beta of 1.41. T. Rowe Price Group, Inc. has a fifty-two week low of $87.43 and a fifty-two week high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter in the prior year, the business earned $2.02 EPS. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, sell-side analysts predict that T. Rowe Price Group, Inc. will post 9.04 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $1.24 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.29%. T. Rowe Price Group’s dividend payout ratio is currently 58.91%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Wells Fargo & Company raised their price target on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 9th. Evercore ISI upped their price objective on shares of T. Rowe Price Group from $108.00 to $109.00 and gave the company an “in-line” rating in a report on Friday, October 4th. TD Cowen cut their price objective on shares of T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating on the stock in a research report on Monday, July 29th. Finally, The Goldman Sachs Group decreased their target price on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a research report on Thursday, October 3rd. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat, T. Rowe Price Group presently has an average rating of “Hold” and a consensus target price of $113.00.

Insider Activity at T. Rowe Price Group

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

About T. Rowe Price Group

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.