Forsta AP Fonden decreased its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW – Get Rating) by 23.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 79,100 shares of the asset manager’s stock after selling 24,100 shares during the period. Forsta AP Fonden’s holdings in T. Rowe Price Group were worth $11,959,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the business. Covestor Ltd bought a new position in T. Rowe Price Group during the fourth quarter valued at approximately $27,000. Rise Advisors LLC raised its position in T. Rowe Price Group by 645.8% during the first quarter. Rise Advisors LLC now owns 179 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 155 shares during the period. Bivin & Associates Inc. purchased a new stake in T. Rowe Price Group during the fourth quarter valued at approximately $29,000. Independence Bank of Kentucky purchased a new stake in T. Rowe Price Group during the first quarter valued at approximately $29,000. Finally, Jones Financial Companies Lllp raised its position in T. Rowe Price Group by 114.6% during the first quarter. Jones Financial Companies Lllp now owns 191 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 102 shares during the period. Institutional investors own 71.80% of the company’s stock.
Analyst Upgrades and Downgrades
TROW has been the topic of a number of recent research reports. BMO Capital Markets decreased their price objective on T. Rowe Price Group from $135.00 to $115.00 in a research report on Monday, August 1st. TheStreet downgraded T. Rowe Price Group from a “b-” rating to a “c” rating in a research report on Wednesday, July 13th. The Goldman Sachs Group reduced their price target on T. Rowe Price Group from $118.00 to $100.00 and set a “sell” rating on the stock in a report on Wednesday, June 29th. Morgan Stanley reduced their price target on T. Rowe Price Group from $124.00 to $123.00 and set an “equal weight” rating on the stock in a report on Friday, July 29th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on T. Rowe Price Group from $126.00 to $118.00 and set a “hold” rating on the stock in a report on Wednesday, July 13th. Five analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, T. Rowe Price Group presently has an average rating of “Hold” and an average price target of $130.30.
Insider Transactions at T. Rowe Price Group
T. Rowe Price Group Trading Down 0.1 %
Shares of NASDAQ TROW opened at $125.04 on Friday. The stock has a market capitalization of $28.22 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 2.56 and a beta of 1.30. The stock’s fifty day simple moving average is $118.03 and its two-hundred day simple moving average is $133.06. T. Rowe Price Group, Inc. has a 12-month low of $104.72 and a 12-month high of $224.55.
T. Rowe Price Group (NASDAQ:TROW – Get Rating) last announced its earnings results on Thursday, July 28th. The asset manager reported $1.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.64 by ($0.85). The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.68 billion. T. Rowe Price Group had a net margin of 33.26% and a return on equity of 28.18%. The firm’s revenue was down 20.4% compared to the same quarter last year. During the same period last year, the business posted $3.31 EPS. On average, equities analysts predict that T. Rowe Price Group, Inc. will post 8.27 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 Thursday, September 29th. Stockholders of record on Thursday, September 15th will be given a $1.20 dividend. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.84%. T. Rowe Price Group’s payout ratio is 46.33%.
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.
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