Lansforsakringar Fondforvaltning AB publ Sells 39,910 Shares of T. Rowe Price Group, Inc. $TROW

Key Points

• Lansforsakringar Fondforvaltning AB publ cut its T. Rowe Price Group stake by 37.4% in the first quarter, selling 39,910 shares and leaving it with 66,891 shares valued at about $6.03 million.
• Analyst sentiment remains cautious, with a consensus rating of “Reduce” and an average price target of $100.54; most analysts rate the stock Hold, while four rate it Sell.
• T. Rowe Price reported solid quarterly results and a dividend, beating EPS estimates at $2.52 per share and paying a quarterly dividend of $1.30, equal to a 4.4% yield.

Lansforsakringar Fondforvaltning AB publ reduced its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 37.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 66,891 shares of the asset manager's stock after selling 39,910 shares during the quarter. Lansforsakringar Fondforvaltning AB publ's holdings in T. Rowe Price Group were worth $6,030,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of TROW. MTM Investment Management LLC lifted its holdings in shares of T. Rowe Price Group by 3.5% during the fourth quarter. MTM Investment Management LLC now owns 3,167 shares of the asset manager's stock worth $324,000 after purchasing an additional 107 shares during the period. GenTrust LLC increased its holdings in T. Rowe Price Group by 5.5% in the fourth quarter. GenTrust LLC now owns 2,114 shares of the asset manager's stock valued at $216,000 after purchasing an additional 110 shares during the period. Fiduciary Trust Co raised its position in T. Rowe Price Group by 4.5% during the 3rd quarter. Fiduciary Trust Co now owns 2,579 shares of the asset manager's stock worth $265,000 after purchasing an additional 111 shares during the last quarter. 1834 Investment Advisors Co. raised its position in T. Rowe Price Group by 0.3% during the 4th quarter. 1834 Investment Advisors Co. now owns 37,490 shares of the asset manager's stock worth $3,838,000 after purchasing an additional 115 shares during the last quarter. Finally, Allworth Financial LP lifted its holdings in T. Rowe Price Group by 2.1% during the 4th quarter. Allworth Financial LP now owns 5,541 shares of the asset manager's stock worth $567,000 after buying an additional 115 shares during the period. Institutional investors own 73.39% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on TROW shares. Weiss Ratings reiterated a "hold (c)" rating on shares of T. Rowe Price Group in a research report on Friday, May 8th. Evercore raised their price objective on T. Rowe Price Group from $106.00 to $111.00 in a research report on Monday, June 8th. BMO Capital Markets lifted their price objective on T. Rowe Price Group from $98.00 to $110.00 and gave the stock a "market perform" rating in a research note on Monday, May 4th. JPMorgan Chase & Co. reduced their target price on T. Rowe Price Group from $106.00 to $103.00 and set an "underweight" rating on the stock in a report on Friday, April 24th. Finally, Zacks Research raised shares of T. Rowe Price Group from a "strong sell" rating to a "hold" rating in a research report on Wednesday, May 13th. Eleven research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat, T. Rowe Price Group currently has a consensus rating of "Reduce" and a consensus price target of $100.54.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of T. Rowe Price Group stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total value of $307,680.00. Following the completion of the sale, the vice president directly owned 83,883 shares in the company, valued at approximately $8,603,040.48. The trade was a 3.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.60% of the company's stock.

T. Rowe Price Group Trading Up 2.1%

Shares of TROW opened at $118.55 on Friday. The firm's fifty day simple moving average is $105.40 and its two-hundred day simple moving average is $100.23. T. Rowe Price Group, Inc. has a 12 month low of $85.22 and a 12 month high of $118.64. The stock has a market capitalization of $25.40 billion, a P/E ratio of 12.71, a price-to-earnings-growth ratio of 5.90 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.37 by $0.15. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.85 billion. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The business's quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the company posted $2.23 EPS. As a group, research analysts predict that T. Rowe Price Group, Inc. will post 9.69 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 15th were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $5.20 annualized dividend and a yield of 4.4%. T. Rowe Price Group's dividend payout ratio (DPR) is currently 55.73%.

T. Rowe Price Group 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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