Nykredit A S Invests $7.56 Million in T. Rowe Price Group, Inc. $TROW

Key Points

• Nykredit A/S initiated a $7.56 million position in T. Rowe Price Group during the second quarter by purchasing 66,483 shares. Institutional investors collectively own 73.39% of the company.
• Analyst sentiment remains cautious: TROW has a consensus rating of “Reduce”, with one Buy, nine Hold, and four Sell ratings and an average price target of $106.15.
• T. Rowe Price reported stronger-than-expected quarterly results, with EPS of $2.57 and revenue of $1.91 billion, while declaring a $1.30 quarterly dividend—equivalent to a 5.0% annualized yield.

Nykredit A S purchased a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 66,483 shares of the asset manager's stock, valued at approximately $7,558,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of T. Rowe Price Group during the second quarter worth about $2,728,119,000. Goldman Sachs Group Inc. lifted its position in T. Rowe Price Group by 332.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager's stock valued at $897,880,000 after purchasing an additional 6,740,172 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in T. Rowe Price Group by 20.0% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,150,561 shares of the asset manager's stock valued at $358,187,000 after purchasing an additional 524,544 shares during the period. First Trust Advisors LP boosted its holdings in T. Rowe Price Group by 12.6% in the 1st quarter. First Trust Advisors LP now owns 3,694,171 shares of the asset manager's stock valued at $332,993,000 after purchasing an additional 413,317 shares in the last quarter. Finally, Provident Trust Co. boosted its holdings in T. Rowe Price Group by 0.4% in the 2nd quarter. Provident Trust Co. now owns 2,061,353 shares of the asset manager's stock valued at $234,355,000 after purchasing an additional 8,524 shares in the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Weiss Ratings upgraded T. Rowe Price Group from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, September 4th. UBS Group set a $110.00 price target on shares of T. Rowe Price Group in a research note on Monday, August 31st. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $109.00 price target on shares of T. Rowe Price Group in a report on Monday, August 3rd. Zacks Research downgraded shares of T. Rowe Price Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 13th. Finally, Keefe, Bruyette & Woods restated 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. One analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus price target of $106.15.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Joshua Nelson sold 10,000 shares of the business's stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $111.82, for a total transaction of $1,118,200.00. Following the sale, the vice president directly owned 71,328 shares in the company, valued at approximately $7,975,896.96. The trade was a 12.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Stock Up 0.5%

Shares of TROW stock opened at $104.63 on Tuesday. The stock has a market cap of $22.32 billion, a price-to-earnings ratio of 10.49, a price-to-earnings-growth ratio of 3.44 and a beta of 1.46. T. Rowe Price Group, Inc. has a fifty-two week low of $85.22 and a fifty-two week high of $122.00. The firm's 50 day moving average price is $112.18 and its two-hundred day moving average price is $104.83.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The asset manager reported $2.57 EPS for the quarter, topping the consensus estimate of $2.52 by $0.05. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same period in the previous year, the company posted $2.24 EPS. T. Rowe Price Group's revenue for the quarter was up 10.7% on a year-over-year basis. On average, equities analysts forecast that T. Rowe Price Group, Inc. will post 10.16 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders 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 dividend yield of 5.0%. T. Rowe Price Group's dividend payout ratio is currently 52.16%.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland. Founded in 1937 by Thomas Rowe Price Jr., the company provides investment management, advisory and related services to individual investors, retirement plans, institutions, financial intermediaries and other clients.

The company offers a broad range of investment products and strategies, including mutual funds, exchange-traded funds, separately managed accounts and institutional portfolios.

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