Danske Bank A S Purchases Shares of 128,704 T. Rowe Price Group, Inc. $TROW

Danske Bank A S acquired a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 128,704 shares of the asset manager’s stock, valued at approximately $14,632,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. SVB Wealth LLC raised its stake in T. Rowe Price Group by 77.5% during the 4th quarter. SVB Wealth LLC now owns 37,000 shares of the asset manager’s stock valued at $3,788,000 after purchasing an additional 16,155 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in T. Rowe Price Group by 3.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 520,782 shares of the asset manager’s stock valued at $54,489,000 after buying an additional 18,952 shares in the last quarter. Generali Asset Management SPA SGR grew its holdings in T. Rowe Price Group by 1,680.4% during the 4th quarter. Generali Asset Management SPA SGR now owns 17,715 shares of the asset manager’s stock valued at $1,814,000 after buying an additional 16,720 shares in the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of T. Rowe Price Group during the fourth quarter valued at approximately $5,935,000. Finally, Norges Bank purchased a new position in shares of T. Rowe Price Group in the fourth quarter worth $128,283,000. 73.39% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. The Goldman Sachs Group lifted their price target on shares of T. Rowe Price Group from $90.00 to $92.00 and gave the company a “sell” rating in a report on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $109.00 target price on shares of T. Rowe Price Group in a report on Monday, August 3rd. Zacks Research cut T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 13th. Barclays reduced their price objective on T. Rowe Price Group from $108.00 to $103.00 and set an “underweight” rating on the stock in a research note on Monday, August 3rd. Finally, Evercore set a $118.00 price objective on T. Rowe Price Group in a report on Monday, August 10th. Ten investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $105.67.

T. Rowe Price Group Trading Down 0.0%

TROW opened at $112.19 on Friday. The firm has a market cap of $23.93 billion, a P/E ratio of 11.25, a P/E/G ratio of 4.37 and a beta of 1.47. T. Rowe Price Group, Inc. has a 12 month low of $85.22 and a 12 month high of $122.00. The stock has a 50-day moving average of $113.91 and a 200 day moving average of $102.80.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.52 by $0.05. The business had revenue of $1.91 billion for 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%.The company’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.24 earnings per share. On average, research analysts forecast that T. Rowe Price Group, Inc. will post 10.13 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be given a $1.30 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $5.20 dividend on an annualized basis and a yield of 4.6%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 52.16%.

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.