Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 11,500 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its holdings in T. Rowe Price Group by 22.8%, selling 11,500 shares and holding 38,877 shares valued at approximately $3.57 million by the end of the quarter.
• T. Rowe Price Group reported a quarterly earnings per share (EPS) of $2.24, surpassing estimates of $2.15, although revenue saw a slight decline of 0.6% year-over-year.
• The company announced a quarterly dividend of $1.27 per share, reflecting an annualized yield of 4.7%, with the dividend to be paid on September 29th.

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 22.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,877 shares of the asset manager's stock after selling 11,500 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in T. Rowe Price Group were worth $3,572,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TROW. Zions Bancorporation National Association UT bought a new stake in T. Rowe Price Group during the 1st quarter worth about $27,000. Hexagon Capital Partners LLC lifted its position in T. Rowe Price Group by 44.8% during the 1st quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager's stock worth $34,000 after buying an additional 113 shares in the last quarter. Smallwood Wealth Investment Management LLC bought a new stake in T. Rowe Price Group during the 1st quarter worth about $39,000. Chilton Capital Management LLC acquired a new position in shares of T. Rowe Price Group during the 1st quarter worth about $41,000. Finally, Ameriflex Group Inc. acquired a new position in shares of T. Rowe Price Group during the 4th quarter worth about $42,000. 73.39% of the stock is owned by institutional investors.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW opened at $107.04 on Friday. The stock has a market capitalization of $23.52 billion, a P/E ratio of 11.96, a P/E/G ratio of 2.91 and a beta of 1.47. The company has a 50-day moving average price of $100.94 and a 200-day moving average price of $97.81. 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 issued its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.72 billion during the quarter, compared to analysts' expectations of $1.72 billion. During the same period last year, the company earned $2.26 earnings per share. The business's revenue was down .6% on a year-over-year basis. As a group, equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Monday, September 15th. T. Rowe Price Group's payout ratio is presently 56.76%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on TROW shares. Wells Fargo & Company boosted their price objective on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the stock an "equal weight" rating in a research note on Friday, July 11th. Keefe, Bruyette & Woods boosted their price objective on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the stock a "market perform" rating in a research note on Monday, August 4th. Cowen restated a "hold" rating on shares of T. Rowe Price Group in a research note on Monday, May 5th. Evercore ISI increased their price target on shares of T. Rowe Price Group from $106.00 to $110.00 and gave the company an "in-line" rating in a report on Monday, August 4th. Finally, Morgan Stanley increased their price target on shares of T. Rowe Price Group from $112.00 to $116.00 and gave the company an "equal weight" rating in a report on Monday, August 4th. Four research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $101.09.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of the business's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total value of $190,860.00. Following the transaction, the vice president directly owned 44,789 shares in the company, valued at $4,274,214.27. The trade was a 4.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.00% of the stock is currently owned by insiders.

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.

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