Arbejdsmarkedets Tillaegspension Purchases 64,586 Shares of T. Rowe Price Group, Inc. $TROW

Key Points

• Arbejdsmarkedets Tillaegspension boosted its stake in T. Rowe Price Group by 29.3% in the first quarter, buying 64,586 more shares to bring its total to 285,322 shares worth about $25.7 million.
• T. Rowe Price Group reported better-than-expected first-quarter earnings of $2.52 per share on revenue of $1.86 billion, with revenue up 5.3% year over year.
• The company also paid a quarterly dividend of $1.30 per share, implying an annualized yield of 4.4%, while analysts currently have a consensus rating of “Reduce” on the stock.

Arbejdsmarkedets Tillaegspension increased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 29.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 285,322 shares of the asset manager's stock after buying an additional 64,586 shares during the period. Arbejdsmarkedets Tillaegspension owned about 0.13% of T. Rowe Price Group worth $25,719,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. TD Private Client Wealth LLC increased its position in T. Rowe Price Group by 91.8% during the 4th quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager's stock valued at $26,000 after purchasing an additional 123 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of 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 purchasing an additional 238 shares in the last quarter. Canton Hathaway LLC bought a new position in shares of T. Rowe Price Group during the fourth quarter valued at approximately $31,000. Sound Income Strategies LLC increased its holdings in T. Rowe Price Group by 170.3% during the fourth quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager's stock valued at $32,000 after buying an additional 189 shares during the period. Finally, DV Equities LLC purchased a new position in T. Rowe Price Group during the fourth quarter valued at approximately $32,000. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Price Performance

T. Rowe Price Group stock opened at $118.55 on Monday. The stock has a market capitalization of $25.40 billion, a price-to-earnings ratio of 12.71, a PEG ratio of 4.62 and a beta of 1.47. T. Rowe Price Group, Inc. has a 1-year low of $85.22 and a 1-year high of $121.17. The business has a fifty day moving average price of $107.60 and a 200-day moving average price of $100.85.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the previous year, the business earned $2.23 EPS. The firm's revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9.89 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 15th were paid a $1.30 dividend. The ex-dividend date was Monday, June 15th. This represents a $5.20 dividend on an annualized basis and a yield of 4.4%. T. Rowe Price Group's dividend payout ratio (DPR) is 55.73%.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the firm's stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total value of $307,680.00. Following the completion of the transaction, the vice president owned 83,883 shares of the company's stock, valued at approximately $8,603,040.48. This trade represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on TROW shares. Weiss Ratings upgraded T. Rowe Price Group from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, July 2nd. JPMorgan Chase & Co. decreased their price objective on 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. Morgan Stanley raised their price objective on T. Rowe Price Group from $105.00 to $109.00 and gave the company an "equal weight" rating in a research report on Friday, June 26th. TD Cowen boosted their target price on shares of T. Rowe Price Group from $93.00 to $94.00 and gave the stock a "hold" rating in a report on Friday, May 1st. Finally, Keefe, Bruyette & Woods increased their price target on shares of T. Rowe Price Group from $107.00 to $120.00 and gave the company a "market perform" rating in a research report on Friday. Ten research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus target price of $101.83.

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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