KLP Kapitalforvaltning AS Grows Stake in T. Rowe Price Group, Inc. $TROW

Key Points

• KLP Kapitalforvaltning AS increased its stake in T. Rowe Price Group by 2.9% during the second quarter, bringing its total ownership to about 0.06%, valued at approximately $12.36 million.
• Several institutional investors have also made moves in T. Rowe Price, with 73.39% of the stock currently owned by hedge funds and other institutional investors.
• Analyst ratings for T. Rowe Price Group showed a mix, with Zacks downgrading the stock to a "hold" rating and other firms adjusting their price targets, indicating a cautious sentiment around the stock's performance.

KLP Kapitalforvaltning AS increased its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 2.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 128,116 shares of the asset manager's stock after acquiring an additional 3,600 shares during the period. KLP Kapitalforvaltning AS owned about 0.06% of T. Rowe Price Group worth $12,363,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TROW. Zions Bancorporation National Association UT purchased a new position in T. Rowe Price Group in the first quarter worth $27,000. Hexagon Capital Partners LLC grew its position in T. Rowe Price Group by 44.8% in the first 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 purchased a new position in T. Rowe Price Group in the first quarter worth $39,000. Chilton Capital Management LLC purchased a new position in T. Rowe Price Group in the first quarter worth $41,000. Finally, Cromwell Holdings LLC grew its position in T. Rowe Price Group by 3,483.3% in the second quarter. Cromwell Holdings LLC now owns 430 shares of the asset manager's stock worth $41,000 after acquiring an additional 418 shares in the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,090 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $105.01, for a total value of $324,480.90. Following the completion of the transaction, the director directly owned 47,335 shares of the company's stock, valued at $4,970,648.35. This represents a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

TROW has been the subject of several research reports. Zacks Research lowered shares of T. Rowe Price Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. Barclays restated an "underweight" rating and set a $95.00 price target (up from $91.00) on shares of T. Rowe Price Group in a research report on Monday, August 4th. Bank of America upped their price target on shares of T. Rowe Price Group from $91.00 to $97.00 and gave the company an "underperform" rating in a research report on Thursday, October 2nd. Wells Fargo & Company upped their price target 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, BMO Capital Markets initiated coverage on shares of T. Rowe Price Group in a research report on Friday, October 3rd. They set a "market perform" rating and a $108.00 price target for the company. Two investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat.com, T. Rowe Price Group currently has an average rating of "Reduce" and an average price target of $104.92.

T. Rowe Price Group Trading Up 0.0%

Shares of NASDAQ:TROW opened at $105.82 on Thursday. The company has a market cap of $23.25 billion, a price-to-earnings ratio of 11.82, a price-to-earnings-growth ratio of 6.82 and a beta of 1.50. The company has a 50-day moving average price of $105.76 and a 200-day moving average price of $98.32. 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 issued its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, beating the consensus estimate of $2.15 by $0.09. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.72 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The company's quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.26 earnings per share. As a group, research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 15th were paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend was Monday, September 15th. T. Rowe Price Group's dividend payout ratio is presently 56.76%.

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.

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