BI Asset Management Fondsmaeglerselskab A S Decreases Stock Holdings in T. Rowe Price Group, Inc. $TROW

BI Asset Management Fondsmaeglerselskab A S decreased its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 50.6% during the first quarter, Holdings Channel reports. The firm owned 12,650 shares of the asset manager’s stock after selling 12,974 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in T. Rowe Price Group were worth $1,140,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its holdings 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 valued at $897,880,000 after buying an additional 6,740,172 shares during the period. First Trust Advisors LP lifted its holdings in T. Rowe Price Group by 126.5% in the fourth quarter. First Trust Advisors LP now owns 3,280,854 shares of the asset manager’s stock valued at $335,894,000 after acquiring an additional 1,832,231 shares during the period. Norges Bank purchased a new position in T. Rowe Price Group in the fourth quarter worth about $128,283,000. PFA Pension Forsikringsaktieselskab purchased a new position in shares of T. Rowe Price Group in the fourth quarter worth approximately $61,073,000. Finally, Caisse de depot et placement du Quebec grew its position in T. Rowe Price Group by 81.0% during the third quarter. Caisse de depot et placement du Quebec now owns 1,306,922 shares of the asset manager’s stock valued at $134,142,000 after buying an additional 584,949 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Down 0.8%

Shares of TROW stock opened at $105.20 on Thursday. The company’s fifty day simple moving average is $103.45 and its two-hundred day simple moving average is $99.88. T. Rowe Price Group, Inc. has a 52 week low of $85.22 and a 52 week high of $118.22. The stock has a market cap of $22.54 billion, a P/E ratio of 11.28, a PEG ratio of 5.45 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.37 by $0.15. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.85 billion. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.23 earnings per share. On average, analysts anticipate that T. Rowe Price Group, Inc. will post 9.58 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend is Monday, June 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 55.73%.

Insider Buying and Selling at T. Rowe Price Group

In other 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 sale, the vice president directly owned 83,883 shares in the company, valued at $8,603,040.48. The trade was a 3.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on TROW shares. Keefe, Bruyette & Woods boosted their price objective on shares of T. Rowe Price Group from $95.00 to $107.00 and gave the company a “market perform” rating in a research report on Friday, May 1st. Jefferies Financial Group lowered their target price on T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating on the stock in a research report on Wednesday, April 8th. JPMorgan Chase & Co. cut their price target on T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating for the company in a report on Friday, April 24th. Weiss Ratings restated a “hold (c)” rating on shares of T. Rowe Price Group in a research note on Friday, May 8th. Finally, BMO Capital Markets lifted their price target on shares of T. Rowe Price Group from $98.00 to $110.00 and gave the company a “market perform” rating in a report on Monday, May 4th. Eleven investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $100.08.

T. Rowe Price Group Profile

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.