Nykredit A S Purchases Shares of 74,115 T. Rowe Price Group, Inc. $TROW

Nykredit A S acquired a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 74,115 shares of the asset manager’s stock, valued at approximately $8,426,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of T. Rowe Price Group in the second quarter valued at approximately $2,728,119,000. State Street Corp grew its holdings in T. Rowe Price Group by 0.3% in the 4th quarter. State Street Corp now owns 14,159,797 shares of the asset manager’s stock valued at $1,449,680,000 after buying an additional 45,530 shares in the last quarter. Goldman Sachs Group Inc. increased its position in 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 buying an additional 6,740,172 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of T. Rowe Price Group by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,073,846 shares of the asset manager’s stock worth $826,600,000 after buying an additional 143,109 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in shares of T. Rowe Price Group by 12.6% in the first quarter. First Trust Advisors LP now owns 3,694,171 shares of the asset manager’s stock valued at $332,993,000 after acquiring an additional 413,317 shares during the period. 73.39% of the stock is owned by institutional investors.

Insider Activity at T. Rowe Price Group

In other news, VP Joshua Nelson sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $111.82, for a total value of $1,118,200.00. Following the sale, the vice president directly owned 71,328 shares in the company, valued at approximately $7,975,896.96. This trade represents a 12.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.60% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of TROW opened at $109.78 on Friday. T. Rowe Price Group, Inc. has a 52-week low of $85.22 and a 52-week high of $122.00. The business’s fifty day moving average is $114.64 and its 200-day moving average is $103.88. The firm has a market cap of $23.42 billion, a price-to-earnings ratio of 11.01, a PEG ratio of 3.63 and a beta of 1.46.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, July 31st. The asset manager reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.05. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.T. Rowe Price Group’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the prior year, the company earned $2.24 EPS. As a group, research analysts forecast that T. Rowe Price Group, Inc. will post 10.16 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $5.20 annualized dividend and a yield of 4.7%. T. Rowe Price Group’s payout ratio is presently 52.16%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TROW. Morgan Stanley set a $116.00 price target on shares of T. Rowe Price Group in a research report on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $109.00 target price on shares of T. Rowe Price Group in a research report on Monday, August 3rd. Weiss Ratings raised shares of T. Rowe Price Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $115.00 price target (down from $120.00) on shares of T. Rowe Price Group in a research report on Monday, August 3rd. Finally, The Goldman Sachs Group boosted their price target on T. Rowe Price Group from $90.00 to $92.00 and gave the company a “sell” rating in a research note on Tuesday, June 30th. One analyst has rated the stock with a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $106.15.

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.