Handelsbanken Fonder AB Has $3.10 Million Holdings in T. Rowe Price Group, Inc. $TROW

Key Points

• Handelsbanken Fonder AB cut its T. Rowe Price Group stake by 51.1% in the second quarter, selling 28,473 shares and retaining 27,275 shares valued at approximately $3.1 million. Institutional investors own 73.39% of the company.
• Analyst sentiment remains cautious: ten analysts rate TROW as a hold and four rate it a sell, resulting in a consensus “Reduce” rating and an average price target of $105.67.
• T. Rowe Price exceeded quarterly expectations with $2.57 in EPS and $1.91 billion in revenue, while reporting 10.7% year-over-year revenue growth. The company declared a quarterly dividend of $1.30 per share, representing a 4.7% annualized yield.

Handelsbanken Fonder AB decreased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 51.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,275 shares of the asset manager's stock after selling 28,473 shares during the period. Handelsbanken Fonder AB's holdings in T. Rowe Price Group were worth $3,101,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Wealthcare Capital Partners LLC grew its position in shares of T. Rowe Price Group by 1.0% in the second quarter. Wealthcare Capital Partners LLC now owns 9,565 shares of the asset manager's stock valued at $1,087,000 after purchasing an additional 93 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in shares of T. Rowe Price Group by 1.3% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 13,111 shares of the asset manager's stock worth $1,491,000 after purchasing an additional 170 shares during the period. Wynn Capital LLC lifted its position in shares of T. Rowe Price Group by 3.6% during the 2nd quarter. Wynn Capital LLC now owns 5,338 shares of the asset manager's stock worth $607,000 after purchasing an additional 186 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in shares of T. Rowe Price Group during the 2nd quarter worth about $79,000. Finally, Czech National Bank boosted its stake in T. Rowe Price Group by 2.4% during the 2nd quarter. Czech National Bank now owns 60,989 shares of the asset manager's stock valued at $6,934,000 after purchasing an additional 1,454 shares during the period. 73.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on TROW shares. BMO Capital Markets raised their target price on T. Rowe Price Group from $110.00 to $120.00 and gave the company a "market perform" rating in a report on Monday, August 3rd. TD Cowen upped their price target on T. Rowe Price Group from $107.00 to $108.00 and gave the stock a "hold" rating in a report on Monday, August 3rd. The Goldman Sachs Group increased their price objective on T. Rowe Price Group from $90.00 to $92.00 and gave the company a "sell" rating in a research report on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $109.00 price objective on shares of T. Rowe Price Group in a research note on Monday, August 3rd. Finally, Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $115.00 target price (down from $120.00) on shares of T. Rowe Price Group in a research report on Monday, August 3rd. Ten investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus target price of $105.67.

T. Rowe Price Group Price Performance

NASDAQ TROW opened at $110.56 on Friday. The stock's 50 day simple moving average is $113.52 and its 200 day simple moving average is $102.66. T. Rowe Price Group, Inc. has a one year low of $85.22 and a one year high of $122.00. The firm has a market cap of $23.58 billion, a PE ratio of 11.09, a price-to-earnings-growth ratio of 4.30 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings data on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.05. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.The business's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.24 EPS. As a group, equities analysts expect that T. Rowe Price Group, Inc. will post 10.13 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be given a dividend of $1.30 per share. The ex-dividend date is Tuesday, September 15th. This represents a $5.20 annualized dividend and a yield of 4.7%. T. Rowe Price Group's dividend payout ratio is 52.16%.

T. Rowe Price Group Company 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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