Avanza Fonder AB Takes Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Avanza Fonder AB acquired a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 18,435 shares of the asset manager’s stock, valued at approximately $2,085,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of TROW. Insight Folios Inc boosted its stake in T. Rowe Price Group by 3.6% in the third quarter. Insight Folios Inc now owns 2,612 shares of the asset manager’s stock valued at $285,000 after buying an additional 90 shares in the last quarter. Keystone Financial Services boosted its stake in shares of T. Rowe Price Group by 5.1% in the 3rd quarter. Keystone Financial Services now owns 1,885 shares of the asset manager’s stock valued at $205,000 after purchasing an additional 92 shares in the last quarter. Nvwm LLC boosted its stake in shares of T. Rowe Price Group by 2.2% in the 3rd quarter. Nvwm LLC now owns 4,496 shares of the asset manager’s stock valued at $490,000 after purchasing an additional 95 shares in the last quarter. Strategy Asset Managers LLC grew its holdings in shares of T. Rowe Price Group by 4.6% during the 3rd quarter. Strategy Asset Managers LLC now owns 2,169 shares of the asset manager’s stock valued at $236,000 after purchasing an additional 95 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in T. Rowe Price Group by 29.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 430 shares of the asset manager’s stock worth $49,000 after purchasing an additional 99 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW opened at $113.21 on Friday. The company’s 50 day moving average price is $117.71 and its 200-day moving average price is $112.85. T. Rowe Price Group, Inc. has a 52-week low of $100.49 and a 52-week high of $125.81. The company has a market capitalization of $25.15 billion, a P/E ratio of 12.39, a price-to-earnings-growth ratio of 1.42 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the previous year, the business earned $2.17 earnings per share. T. Rowe Price Group’s revenue for the quarter was up 6.9% on a year-over-year basis. Analysts forecast that T. Rowe Price Group, Inc. will post 9.46 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were paid a dividend of $1.24 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $4.96 annualized dividend and a yield of 4.38%. T. Rowe Price Group’s dividend payout ratio is currently 54.27%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Evercore ISI boosted their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. The Goldman Sachs Group lowered their target price on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a report on Thursday, October 3rd. JPMorgan Chase & Co. cut their price target on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research note on Monday, November 4th. Morgan Stanley upped their price objective on T. Rowe Price Group from $129.00 to $132.00 and gave the company an “equal weight” rating in a research note on Friday, December 20th. Finally, TD Cowen cut their target price on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $115.82.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value of $499,197.45. Following the completion of the sale, the vice president now directly owns 119,577 shares in the company, valued at approximately $14,749,822.95. This trade represents a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Profile

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.