Forsta AP Fonden Purchases 5,200 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Key Points

• Forsta AP Fonden increased its stake in T. Rowe Price Group by 4.6% during the first quarter, owning 117,200 shares valued at approximately $10.77 million.
• Analysts' ratings for T. Rowe Price Group are mixed, with four sell ratings and nine hold ratings, and the stock has a consensus price target of $101.09.
• The company recently reported an EPS of $2.24 for the latest quarter, exceeding expectations, while its revenue was down 0.6% year-over-year.

Forsta AP Fonden grew its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 4.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 117,200 shares of the asset manager's stock after acquiring an additional 5,200 shares during the period. Forsta AP Fonden owned 0.05% of T. Rowe Price Group worth $10,767,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of TROW. Ameriflex Group Inc. acquired a new position in T. Rowe Price Group during the 4th quarter valued at about $42,000. Hexagon Capital Partners LLC lifted its position in shares of 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 position in shares of T. Rowe Price Group during the 1st quarter worth approximately $39,000. Chilton Capital Management LLC bought a new position in shares of T. Rowe Price Group during the 1st quarter worth approximately $41,000. Finally, Wayfinding Financial LLC bought a new position in shares of T. Rowe Price Group during the 1st quarter worth approximately $43,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TROW. Evercore ISI boosted their target price 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. JPMorgan Chase & Co. boosted their price target on shares of T. Rowe Price Group from $98.00 to $102.00 and gave the company an "underweight" rating in a research report on Monday, August 4th. Barclays reiterated an "underweight" rating and issued a $95.00 target price (up from $91.00) on shares of T. Rowe Price Group in a research report on Monday, August 4th. Morgan Stanley upped their target price on shares of T. Rowe Price Group from $112.00 to $116.00 and gave the stock an "equal weight" rating in a research report on Monday, August 4th. Finally, Keefe, Bruyette & Woods upped their target price on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the stock a "market perform" rating in a research report on Monday, August 4th. Four investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to MarketBeat.com, T. Rowe Price Group has a consensus rating of "Hold" and a consensus target price of $101.09.

T. Rowe Price Group Price Performance

T. Rowe Price Group stock traded down $0.98 during mid-day trading on Thursday, hitting $108.97. The company's stock had a trading volume of 311,788 shares, compared to its average volume of 1,811,149. The business has a 50 day moving average price of $100.36 and a 200-day moving average price of $98.02. The stock has a market cap of $23.94 billion, a price-to-earnings ratio of 12.17, a price-to-earnings-growth ratio of 2.93 and a beta of 1.47. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share 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 business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter last year, the firm earned $2.26 earnings per share. The business's revenue for the quarter was down .6% on a year-over-year basis. On average, equities research analysts expect 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 firm 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 dividend of $1.27 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.7%. T. Rowe Price Group's dividend payout ratio (DPR) is currently 56.76%.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of the firm's stock in a transaction that occurred on 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 transaction, the vice president owned 44,789 shares of the company's stock, valued at approximately $4,274,214.27. This trade represents a 4.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.00% of the company's stock.

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.