Handelsbanken Fonder AB Sells 4,014 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Handelsbanken Fonder AB trimmed its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 7.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,448 shares of the asset manager’s stock after selling 4,014 shares during the period. Handelsbanken Fonder AB’s holdings in T. Rowe Price Group were worth $5,366,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TROW. Y.D. More Investments Ltd raised its stake in T. Rowe Price Group by 124.0% in the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 155 shares during the period. Stonebridge Financial Group LLC bought a new stake in T. Rowe Price Group in the 4th quarter valued at about $32,000. True Wealth Design LLC bought a new stake in T. Rowe Price Group in the 3rd quarter valued at about $37,000. Larson Financial Group LLC raised its stake in T. Rowe Price Group by 866.7% in the 3rd quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 312 shares during the period. Finally, Iron Horse Wealth Management LLC grew its holdings in T. Rowe Price Group by 47.6% during the 4th quarter. Iron Horse Wealth Management LLC now owns 341 shares of the asset manager’s stock valued at $39,000 after buying an additional 110 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total value of $499,197.45. Following the transaction, the vice president now owns 119,577 shares of the company’s stock, valued at approximately $14,749,822.95. This represents a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Arif Husain sold 4,112 shares of the stock in a transaction dated Tuesday, February 11th. The shares were 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 position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

T. Rowe Price Group Trading Down 2.0 %

NASDAQ TROW opened at $106.27 on Monday. T. Rowe Price Group, Inc. has a 12 month low of $100.49 and a 12 month high of $125.81. The stock has a market cap of $23.66 billion, a P/E ratio of 11.60, a P/E/G ratio of 2.86 and a beta of 1.44. The stock’s fifty day moving average price is $112.79 and its 200-day moving average price is $112.42.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Wednesday, February 5th. The asset manager reported $2.12 EPS for the quarter, missing analysts’ consensus estimates 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 firm earned $1.72 earnings per share. As a group, analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal 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 dividend of $1.27 per share. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 annualized dividend and a dividend yield of 4.78%. T. Rowe Price Group’s dividend payout ratio (DPR) is 54.15%.

Analysts Set New Price Targets

A number of research firms have weighed in on TROW. JPMorgan Chase & Co. reduced their target price on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a report on Monday, November 4th. Wells Fargo & Company cut their price objective on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $113.00 price objective (up previously from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. TD Cowen cut 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, Morgan Stanley boosted their price objective on T. Rowe Price Group from $129.00 to $132.00 and gave the stock an “equal weight” rating in a report on Friday, December 20th. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $115.09.

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.