BI Asset Management Fondsmaeglerselskab A S Reduces Position in T. Rowe Price Group, Inc. $TROW

Key Points

• BI Asset Management Fondsmaeglerselskab A S reduced its stake in T. Rowe Price Group, Inc. by 16.8%, owning approximately 0.07% of the company valued at $14.2 million after selling 31,128 shares.
• T. Rowe Price Group reported $2.24 earnings per share, exceeding the consensus estimate of $2.15, while the company's quarterly revenue was down 0.6% year-over-year.
• The firm declared a quarterly dividend of $1.27, with a dividend yield of 4.8%, to be paid on September 29th, reflecting a payout ratio of 56.76%.

BI Asset Management Fondsmaeglerselskab A S decreased its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 16.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 154,606 shares of the asset manager's stock after selling 31,128 shares during the period. BI Asset Management Fondsmaeglerselskab A S owned 0.07% of T. Rowe Price Group worth $14,204,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Cooper Financial Group grew its holdings in shares of T. Rowe Price Group by 5.2% during the first quarter. Cooper Financial Group now owns 2,234 shares of the asset manager's stock valued at $205,000 after buying an additional 110 shares during the last quarter. Hexagon Capital Partners LLC grew its holdings in shares of T. Rowe Price Group by 44.8% during the first quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager's stock valued at $34,000 after buying an additional 113 shares during the last quarter. Associated Banc Corp grew its holdings in shares of T. Rowe Price Group by 0.5% during the first quarter. Associated Banc Corp now owns 24,864 shares of the asset manager's stock valued at $2,284,000 after buying an additional 114 shares during the last quarter. Wealthcare Capital Partners LLC grew its holdings in shares of T. Rowe Price Group by 1.2% during the first quarter. Wealthcare Capital Partners LLC now owns 9,429 shares of the asset manager's stock valued at $866,000 after buying an additional 115 shares during the last quarter. Finally, Cullen Investment Group LTD. grew its holdings in shares of T. Rowe Price Group by 0.9% during the first quarter. Cullen Investment Group LTD. now owns 13,554 shares of the asset manager's stock valued at $1,245,000 after buying an additional 117 shares during the last quarter. Institutional investors own 73.39% of the company's stock.

Insider Transactions at T. Rowe Price Group

In related news, VP Dorothy C. Sawyer sold 2,000 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total transaction of $190,860.00. Following the completion of the sale, the vice president owned 44,789 shares of the company's stock, valued at approximately $4,274,214.27. This represents a 4.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.00% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on TROW shares. Barclays reissued an "underweight" rating and set a $95.00 price objective (up from $91.00) on shares of T. Rowe Price Group in a report on Monday, August 4th. Cowen restated a "hold" rating on shares of T. Rowe Price Group in a research report on Monday, May 5th. Keefe, Bruyette & Woods boosted their target price on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the company a "market perform" rating in a research report on Monday, August 4th. Wells Fargo & Company boosted their target price on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the company an "equal weight" rating in a research report on Friday, July 11th. Finally, Morgan Stanley boosted their target price on shares of T. Rowe Price Group from $112.00 to $116.00 and gave the company an "equal weight" rating in a research report on Monday, August 4th. Eight equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, T. Rowe Price Group currently has an average rating of "Reduce" and a consensus target price of $101.09.

T. Rowe Price Group Stock Performance

Shares of TROW stock traded up $3.76 on Friday, reaching $108.29. 1,333,258 shares of the company were exchanged, compared to its average volume of 1,472,118. The company has a market cap of $23.79 billion, a price-to-earnings ratio of 12.10, a P/E/G ratio of 2.74 and a beta of 1.47. The business has a 50-day moving average price of $102.12 and a 200 day moving average price of $97.60. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its earnings results on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.09. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The business had revenue of $1.72 billion during the quarter, compared to analysts' expectations of $1.72 billion. During the same quarter in the previous year, the company earned $2.26 earnings per share. The company's quarterly revenue was down .6% on a year-over-year basis. As a group, equities analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be paid a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Monday, September 15th. T. Rowe Price Group's dividend payout ratio is currently 56.76%.

T. Rowe Price Group Company 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.