Tredje AP fonden Lowers Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Tredje AP fonden reduced its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 50.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 17,568 shares of the asset manager’s stock after selling 17,567 shares during the period. Tredje AP fonden’s holdings in T. Rowe Price Group were worth $1,987,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of TROW. Atria Investments Inc raised its stake in shares of T. Rowe Price Group by 7.0% in the third quarter. Atria Investments Inc now owns 6,103 shares of the asset manager’s stock valued at $665,000 after acquiring an additional 400 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of T. Rowe Price Group by 1.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 664,063 shares of the asset manager’s stock valued at $72,336,000 after acquiring an additional 9,924 shares in the last quarter. Aigen Investment Management LP acquired a new stake in shares of T. Rowe Price Group in the third quarter valued at $516,000. MQS Management LLC acquired a new stake in shares of T. Rowe Price Group in the third quarter valued at $283,000. Finally, Main Street Financial Solutions LLC raised its stake in shares of T. Rowe Price Group by 3.5% in the third quarter. Main Street Financial Solutions LLC now owns 3,676 shares of the asset manager’s stock valued at $400,000 after acquiring an additional 124 shares in the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Performance

Shares of TROW stock opened at $93.04 on Friday. The stock’s 50-day moving average is $108.27 and its two-hundred day moving average is $111.59. The firm has a market cap of $20.71 billion, a price-to-earnings ratio of 10.16, a PEG ratio of 2.86 and a beta of 1.46. T. Rowe Price Group, Inc. has a 1 year low of $91.37 and a 1 year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same period in the previous year, the business posted $1.72 EPS. As a group, 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a dividend of $1.27 per share. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date is Friday, March 14th. This represents a $5.08 annualized dividend and a dividend yield of 5.46%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 55.46%.

Insider Buying and Selling

In related news, VP Arif Husain sold 4,112 shares of the firm’s stock in a transaction dated 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 owns 36,800 shares of the company’s stock, valued at $4,021,136. This trade represents a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on TROW shares. Wells Fargo & Company reduced their price objective on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $113.00 price objective (up from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Barclays cut their price target on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a research note on Thursday, February 6th. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Finally, Morgan Stanley cut their price target on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating on the stock in a research note on Monday, February 24th. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $114.09.

T. Rowe Price Group Company 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.