Forsta AP Fonden Boosts Stock Position in 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 lifted its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 4.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 117,200 shares of the asset manager's stock after acquiring an additional 5,200 shares during the quarter. Forsta AP Fonden owned 0.05% of T. Rowe Price Group worth $10,767,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in TROW. Hexagon Capital Partners LLC grew its position in shares of T. Rowe Price Group by 44.8% in the 1st quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager's stock worth $34,000 after acquiring 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 valued at $39,000. Chilton Capital Management LLC bought a new stake in T. Rowe Price Group during the 1st quarter valued at $41,000. Ameriflex Group Inc. bought a new stake in T. Rowe Price Group during the 4th quarter valued at $42,000. Finally, Wayfinding Financial LLC bought a new stake in shares of T. Rowe Price Group in the 1st quarter worth $43,000. Institutional investors and hedge funds own 73.39% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on TROW shares. Citigroup dropped their price objective on T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Cowen reiterated a "hold" rating on shares of T. Rowe Price Group in a report on Monday, May 5th. Morgan Stanley lifted their price target on 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. JPMorgan Chase & Co. boosted their target price on T. Rowe Price Group from $98.00 to $102.00 and gave the company an "underweight" rating in a research note on Monday, August 4th. Finally, Evercore ISI boosted their target price on T. Rowe Price Group from $106.00 to $110.00 and gave the company an "in-line" rating in a research note on Monday, August 4th. Four analysts have rated the stock with a sell rating and nine have given a hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $101.09.

T. Rowe Price Group Stock Performance

NASDAQ TROW opened at $105.06 on Friday. The stock has a 50-day simple moving average of $99.50 and a 200 day simple moving average of $98.04. The stock has a market capitalization of $23.08 billion, a PE ratio of 11.74, a P/E/G ratio of 2.86 and a beta of 1.47. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81.

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

Insider Buying and Selling

In related news, insider Jessica M. Hiebler sold 968 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $96.98, for a total transaction of $93,876.64. Following the sale, the insider directly owned 13,611 shares in the company, valued at $1,319,994.78. This represents a 6.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total value of $190,860.00. Following the completion of the transaction, the vice president 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 disclosure for this sale can be found here. Corporate insiders own 2.00% of the company's stock.

About T. Rowe Price Group

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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