Lansforsakringar Fondforvaltning AB publ Buys Shares of 105,007 T. Rowe Price Group, Inc. (NASDAQ:TROW)

Lansforsakringar Fondforvaltning AB publ acquired a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 105,007 shares of the asset manager's stock, valued at approximately $11,875,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Glenview Trust co lifted its position in T. Rowe Price Group by 2.2% in the fourth quarter. Glenview Trust co now owns 4,318 shares of the asset manager's stock valued at $488,000 after purchasing an additional 92 shares during the last quarter. Addison Advisors LLC raised its holdings in shares of T. Rowe Price Group by 67.4% during the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager's stock valued at $26,000 after acquiring an additional 93 shares in the last quarter. Advantage Trust Co raised its holdings in shares of T. Rowe Price Group by 48.8% during the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager's stock valued at $34,000 after acquiring an additional 100 shares in the last quarter. Valeo Financial Advisors LLC raised its holdings in shares of T. Rowe Price Group by 3.5% during the fourth quarter. Valeo Financial Advisors LLC now owns 2,996 shares of the asset manager's stock valued at $339,000 after acquiring an additional 102 shares in the last quarter. Finally, Strategy Asset Managers LLC raised its holdings in shares of T. Rowe Price Group by 5.0% during the fourth quarter. Strategy Asset Managers LLC now owns 2,277 shares of the asset manager's stock valued at $258,000 after acquiring an additional 108 shares in the last quarter. Institutional investors own 73.39% of the company's stock.

T. Rowe Price Group Price Performance

TROW stock traded down $1.44 during midday trading on Monday, hitting $92.15. The stock had a trading volume of 1,686,937 shares, compared to its average volume of 1,496,929. T. Rowe Price Group, Inc. has a 52-week low of $77.85 and a 52-week high of $125.81. The firm has a market cap of $20.30 billion, a price-to-earnings ratio of 10.06, a price-to-earnings-growth ratio of 2.86 and a beta of 1.50. The business has a 50-day moving average of $90.62 and a two-hundred day moving average of $103.97.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its earnings results on Friday, May 2nd. The asset manager reported $2.23 EPS for the quarter, topping analysts' consensus estimates of $2.13 by $0.10. T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. The firm had revenue of $1.76 billion for the quarter, compared to analysts' expectations of $1.80 billion. During the same period in the prior year, the firm posted $2.38 earnings per share. The company's quarterly revenue was up .8% on a year-over-year basis. Research analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be paid a $1.27 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.51%. T. Rowe Price Group's dividend payout ratio is currently 57.60%.

Insider Transactions at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,955 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $91.56, for a total transaction of $362,119.80. Following the sale, the director now directly owns 42,979 shares of the company's stock, valued at $3,935,157.24. This trade represents a 8.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jessica M. Hiebler sold 968 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $96.98, for a total value of $93,876.64. Following the sale, the insider now directly owns 13,611 shares in the company, valued at $1,319,994.78. This trade represents a 6.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on TROW shares. Wall Street Zen downgraded T. Rowe Price Group from a "buy" rating to a "hold" rating in a report on Sunday, February 2nd. Barclays upped their target price on T. Rowe Price Group from $85.00 to $90.00 and gave the company an "underweight" rating in a report on Monday, May 5th. Evercore ISI decreased their target price on T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating for the company in a report on Friday, April 11th. Citigroup decreased their target price on T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Finally, The Goldman Sachs Group decreased their target price on T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating for the company in a report on Monday, April 14th. Four research analysts have rated the stock with a sell rating and nine have given a hold rating to the company. According to MarketBeat, T. Rowe Price Group presently has an average rating of "Hold" and an average price target of $94.09.

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.