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

Tredje AP fonden lowered its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 50.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund 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.

A number of other institutional investors have also modified their holdings of TROW. Avantax Advisory Services Inc. increased its stake in shares of T. Rowe Price Group by 15.2% in the 4th quarter. Avantax Advisory Services Inc. now owns 5,083 shares of the asset manager’s stock valued at $575,000 after purchasing an additional 669 shares in the last quarter. Hopwood Financial Services Inc. purchased a new position in shares of T. Rowe Price Group in the 4th quarter valued at about $412,000. EverSource Wealth Advisors LLC increased its stake in shares of T. Rowe Price Group by 284.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,547 shares of the asset manager’s stock valued at $175,000 after purchasing an additional 1,145 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of T. Rowe Price Group by 53.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 5,518 shares of the asset manager’s stock valued at $624,000 after purchasing an additional 1,929 shares in the last quarter. Finally, HighTower Advisors LLC increased its stake in shares of T. Rowe Price Group by 13.8% in the 4th quarter. HighTower Advisors LLC now owns 150,550 shares of the asset manager’s stock valued at $17,026,000 after purchasing an additional 18,212 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Analyst Ratings Changes

TROW has been the subject of several recent analyst reports. Wells Fargo & Company cut their price target on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company 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 report on Thursday, February 6th. Morgan Stanley lowered their price objective on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating on the stock in a report on Monday, February 24th. Barclays lowered their price objective on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a report on Thursday, February 6th. Finally, StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat, T. Rowe Price Group has an average rating of “Hold” and a consensus price target of $114.09.

Insider Buying and Selling

In related news, VP Arif Husain sold 4,112 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total value of $449,318.24. Following the completion of the transaction, the vice president now directly owns 36,800 shares in the company, valued at approximately $4,021,136. This represents a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.00% of the stock is currently owned by company insiders.

T. Rowe Price Group Price Performance

TROW stock opened at $93.04 on Friday. The business has a 50 day simple moving average of $108.27 and a 200-day simple moving average of $111.59. The firm has a market capitalization of $20.71 billion, a PE ratio of 10.16, a price-to-earnings-growth 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 posted its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the business earned $1.72 earnings per share. On average, equities research analysts expect 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 disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 5.46%. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend is Friday, March 14th. T. Rowe Price Group’s dividend payout ratio is presently 55.46%.

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.