Lansforsakringar Fondforvaltning AB publ Sells 39,910 Shares of T. Rowe Price Group, Inc. $TROW

Lansforsakringar Fondforvaltning AB publ trimmed its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 37.4% in the first quarter, HoldingsChannel reports. The firm owned 66,891 shares of the asset manager’s stock after selling 39,910 shares during the period. Lansforsakringar Fondforvaltning AB publ’s holdings in T. Rowe Price Group were worth $6,030,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Goldman Sachs Group Inc. boosted its position in shares of T. Rowe Price Group by 332.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager’s stock worth $897,880,000 after purchasing an additional 6,740,172 shares in the last quarter. First Trust Advisors LP increased its position in T. Rowe Price Group by 126.5% in the 4th quarter. First Trust Advisors LP now owns 3,280,854 shares of the asset manager’s stock valued at $335,894,000 after buying an additional 1,832,231 shares in the last quarter. Norges Bank bought a new stake in T. Rowe Price Group in the 4th quarter valued at about $128,283,000. PFA Pension Forsikringsaktieselskab acquired a new position in T. Rowe Price Group during the 4th quarter worth approximately $61,073,000. Finally, Caisse de depot et placement du Quebec raised its stake in T. Rowe Price Group by 81.0% during the 3rd quarter. Caisse de depot et placement du Quebec now owns 1,306,922 shares of the asset manager’s stock worth $134,142,000 after buying an additional 584,949 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Keefe, Bruyette & Woods raised their price objective on T. Rowe Price Group from $95.00 to $107.00 and gave the company a “market perform” rating in a research note on Friday, May 1st. The Goldman Sachs Group upped their target price on T. Rowe Price Group from $90.00 to $92.00 and gave the stock a “sell” rating in a research report on Tuesday. TD Cowen increased their target price on T. Rowe Price Group from $93.00 to $94.00 and gave the stock a “hold” rating in a report on Friday, May 1st. Morgan Stanley lifted their price target on shares of T. Rowe Price Group from $105.00 to $109.00 and gave the company an “equal weight” rating in a research report on Friday, June 26th. Finally, JPMorgan Chase & Co. decreased their price target on shares of T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating for the company in a research note on Friday, April 24th. Eleven investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $100.54.

T. Rowe Price Group Stock Up 2.1%

TROW stock opened at $118.55 on Friday. The firm has a market cap of $25.40 billion, a PE ratio of 12.71, a P/E/G ratio of 5.90 and a beta of 1.47. The business has a 50 day moving average of $105.40 and a 200-day moving average of $100.23. T. Rowe Price Group, Inc. has a 12-month low of $85.22 and a 12-month high of $118.64.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.37 by $0.15. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same period last year, the company posted $2.23 earnings per share. T. Rowe Price Group’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, research analysts expect that T. Rowe Price Group, Inc. will post 9.69 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 15th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $5.20 annualized dividend and a dividend yield of 4.4%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 55.73%.

Insider Activity at T. Rowe Price Group

In related news, VP Stephon A. Jackson sold 3,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total value of $307,680.00. Following the transaction, the vice president directly owned 83,883 shares of the company’s stock, valued at approximately $8,603,040.48. The trade was a 3.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.60% of the stock is owned by insiders.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.