SEB Asset Management AB Makes New $4.73 Million Investment in T. Rowe Price Group, Inc. $TROW

SEB Asset Management AB purchased a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 1st quarter, HoldingsChannel reports. The institutional investor purchased 52,470 shares of the asset manager’s stock, valued at approximately $4,730,000.

Other institutional investors have also made changes to their positions in the company. TD Private Client Wealth LLC increased its holdings in T. Rowe Price Group by 91.8% in the fourth quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock worth $26,000 after buying an additional 123 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in T. Rowe Price Group by 540.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock valued at $29,000 after acquiring an additional 238 shares in the last quarter. Canton Hathaway LLC acquired a new stake in T. Rowe Price Group in the fourth quarter valued at approximately $31,000. Sound Income Strategies LLC lifted its stake in T. Rowe Price Group by 170.3% in the fourth quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 189 shares during the last quarter. Finally, DV Equities LLC acquired a new stake in T. Rowe Price Group in the fourth quarter valued at approximately $32,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Stock Down 1.4%

Shares of TROW stock opened at $116.01 on Thursday. T. Rowe Price Group, Inc. has a 12 month low of $85.22 and a 12 month high of $121.17. The business’s 50 day moving average is $109.64 and its two-hundred day moving average is $101.60. The company has a market cap of $24.86 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 4.21 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 EPS for the quarter, beating analysts’ consensus estimates of $2.37 by $0.15. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter last year, the firm posted $2.23 earnings per share. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. As a group, equities analysts expect that T. Rowe Price Group, Inc. will post 10.13 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 15th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.5%. The ex-dividend date was Monday, June 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is 55.73%.

Wall Street Analysts Forecast Growth

TROW has been the topic of several analyst reports. Barclays increased their price target on shares of T. Rowe Price Group from $89.00 to $108.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 14th. JPMorgan Chase & Co. reduced their price objective 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. The Goldman Sachs Group upped their price objective on shares of T. Rowe Price Group from $90.00 to $92.00 and gave the stock a “sell” rating in a report on Tuesday, June 30th. TD Cowen lowered their target price on shares of T. Rowe Price Group from $108.00 to $107.00 and set a “hold” rating on the stock in a research report on Monday. Finally, Weiss Ratings upgraded T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, nine have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, T. Rowe Price Group has an average rating of “Reduce” and an average target price of $104.50.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total transaction of $307,680.00. Following the completion of the transaction, the vice president owned 83,883 shares of the company’s stock, valued at $8,603,040.48. The trade was a 3.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is owned by company insiders.

T. Rowe Price Group Company 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.