Arbejdsmarkedets Tillaegspension Buys New Position in T. Rowe Price Group, Inc. $TROW

Key Points

• Arbejdsmarkedets Tillaegspension disclosed a new fourth-quarter position in T. Rowe Price Group, buying 220,736 shares valued at about $22.6 million. The stake represented 0.10% of the company.
• T. Rowe Price Group reported better-than-expected quarterly earnings, posting $2.52 EPS versus $2.37 expected and revenue of $1.86 billion, up 5.3% year over year.
• The company declared a quarterly dividend of $1.30 per share, or $5.20 annualized, for a yield of about 5.1%. Meanwhile, analysts remain cautious, with an overall rating of "Reduce" and an average target price of $99.54.

Arbejdsmarkedets Tillaegspension acquired a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 220,736 shares of the asset manager's stock, valued at approximately $22,599,000. Arbejdsmarkedets Tillaegspension owned 0.10% of T. Rowe Price Group at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of TROW. Essex Bank increased its position in T. Rowe Price Group by 3.6% during the third quarter. Essex Bank now owns 2,914 shares of the asset manager's stock worth $299,000 after buying an additional 100 shares in the last quarter. PFG Investments LLC increased its position in T. Rowe Price Group by 4.8% during the third quarter. PFG Investments LLC now owns 2,249 shares of the asset manager's stock worth $231,000 after buying an additional 102 shares in the last quarter. GenTrust LLC increased its position in T. Rowe Price Group by 5.5% during the fourth quarter. GenTrust LLC now owns 2,114 shares of the asset manager's stock worth $216,000 after buying an additional 110 shares in the last quarter. Fiduciary Trust Co increased its position in T. Rowe Price Group by 4.5% during the third quarter. Fiduciary Trust Co now owns 2,579 shares of the asset manager's stock worth $265,000 after buying an additional 111 shares in the last quarter. Finally, 1834 Investment Advisors Co. increased its position in T. Rowe Price Group by 0.3% during the fourth quarter. 1834 Investment Advisors Co. now owns 37,490 shares of the asset manager's stock worth $3,838,000 after buying an additional 115 shares in the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TROW has been the subject of several recent research reports. Weiss Ratings reissued a "hold (c)" rating on shares of T. Rowe Price Group in a research report on Friday, May 8th. Argus raised T. Rowe Price Group to a "hold" rating in a research report on Thursday, February 5th. Evercore dropped their price target on T. Rowe Price Group from $106.00 to $104.00 in a research report on Monday, May 11th. Jefferies Financial Group dropped their price target on T. Rowe Price Group from $107.00 to $91.00 and set a "hold" rating for the company in a research report on Wednesday, April 8th. Finally, Barclays raised their price target on T. Rowe Price Group from $87.00 to $89.00 and gave the stock an "underweight" rating in a research report on Friday, May 1st. 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, T. Rowe Price Group presently has an average rating of "Reduce" and an average target price of $99.54.

T. Rowe Price Group Trading Down 0.4%

TROW stock opened at $102.01 on Friday. The stock has a 50-day moving average price of $94.55 and a two-hundred day moving average price of $99.23. T. Rowe Price Group, Inc. has a 12-month low of $85.22 and a 12-month high of $118.22. The company has a market cap of $21.86 billion, a PE ratio of 10.93, a price-to-earnings-growth ratio of 4.48 and a beta of 1.51.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 EPS for the quarter, topping analysts' consensus estimates of $2.37 by $0.15. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The company had revenue of $1.86 billion for the quarter, compared to analysts' expectations of $1.85 billion. During the same quarter in the previous year, the firm posted $2.23 earnings per share. The firm's quarterly revenue was up 5.3% on a year-over-year basis. Equities analysts forecast that T. Rowe Price Group, Inc. will post 9.61 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend is Monday, June 15th. T. Rowe Price Group's payout ratio is currently 55.73%.

Insiders Place Their Bets

In other news, VP Stephon A. Jackson sold 3,000 shares of the company's stock in a transaction that occurred on Wednesday, May 13th. The stock was 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 directly owned 83,883 shares of the company's stock, valued at approximately $8,603,040.48. This represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.60% of the stock is currently owned by corporate insiders.

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.

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