Fjarde AP Fonden Fourth Swedish National Pension Fund Trims Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Fjarde AP Fonden Fourth Swedish National Pension Fund decreased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 37.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,377 shares of the asset manager’s stock after selling 30,000 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in T. Rowe Price Group were worth $5,697,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Wealthspire Advisors LLC increased its stake in shares of T. Rowe Price Group by 2.8% during the fourth quarter. Wealthspire Advisors LLC now owns 12,505 shares of the asset manager’s stock valued at $1,414,000 after buying an additional 344 shares during the period. Olympiad Research LP purchased a new position in T. Rowe Price Group during the 4th quarter valued at $238,000. Sigma Planning Corp raised its holdings in T. Rowe Price Group by 4.2% in the 4th quarter. Sigma Planning Corp now owns 14,251 shares of the asset manager’s stock worth $1,612,000 after purchasing an additional 575 shares in the last quarter. Advantage Trust Co lifted its position in shares of T. Rowe Price Group by 48.8% in the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock worth $34,000 after purchasing an additional 100 shares during the period. Finally, PYA Waltman Capital LLC boosted its stake in shares of T. Rowe Price Group by 2.2% during the 4th quarter. PYA Waltman Capital LLC now owns 17,053 shares of the asset manager’s stock valued at $1,929,000 after purchasing an additional 371 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Activity

In other news, VP Arif Husain sold 4,112 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total transaction of $449,318.24. Following the transaction, the vice president now directly owns 36,800 shares of the company’s stock, valued at $4,021,136. This represents a 10.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total value of $499,197.45. Following the completion of the transaction, the vice president now owns 119,577 shares in the company, valued at approximately $14,749,822.95. This trade represents a 3.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Performance

NASDAQ:TROW opened at $106.57 on Tuesday. The firm has a market cap of $23.73 billion, a P/E ratio of 11.63, a P/E/G ratio of 2.86 and a beta of 1.44. T. Rowe Price Group, Inc. has a fifty-two week low of $100.49 and a fifty-two week high of $125.81. The firm has a 50-day simple moving average of $112.54 and a two-hundred day simple moving average of $112.43.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. During the same quarter in the prior year, the company posted $1.72 EPS. On average, equities research analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $1.27 dividend. The ex-dividend date is Friday, March 14th. This represents a $5.08 annualized dividend and a dividend yield of 4.77%. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s payout ratio is currently 55.46%.

Analyst Ratings Changes

TROW has been the subject of a number of research reports. JPMorgan Chase & Co. decreased their price target on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. Keefe, Bruyette & Woods restated a “market perform” rating and set a $113.00 price target (up from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. TD Cowen decreased their price objective on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a report on Monday, November 4th. Finally, Barclays lowered their price objective on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a research report on Thursday, February 6th. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $114.09.

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.