T. Rowe Price Group, Inc. $TROW Holdings Lifted by Swedbank AB

Key Points

• Swedbank AB increased its stake in T. Rowe Price Group by 337.7% in Q2, now holding 42,152 shares valued at approximately $4.07 million.
• The company reported earnings of $2.24 per share, surpassing expectations, but revenue shows a 0.6% decline versus the previous year.
• T. Rowe Price Group announced a quarterly dividend of $1.27, with an annualized yield of 4.8%, reflecting a payout ratio of 56.76%.

Swedbank AB increased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 337.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 42,152 shares of the asset manager's stock after purchasing an additional 32,522 shares during the period. Swedbank AB's holdings in T. Rowe Price Group were worth $4,068,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in T. Rowe Price Group by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 26,286,393 shares of the asset manager's stock worth $2,414,931,000 after purchasing an additional 222,556 shares during the period. Charles Schwab Investment Management Inc. boosted its position in T. Rowe Price Group by 7.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager's stock worth $707,973,000 after purchasing an additional 519,075 shares during the period. Invesco Ltd. boosted its position in T. Rowe Price Group by 43.2% during the 1st quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager's stock worth $315,453,000 after purchasing an additional 1,035,865 shares during the period. American Century Companies Inc. boosted its position in T. Rowe Price Group by 4.9% during the 1st quarter. American Century Companies Inc. now owns 2,955,703 shares of the asset manager's stock worth $271,541,000 after purchasing an additional 138,515 shares during the period. Finally, Northern Trust Corp lifted its holdings in T. Rowe Price Group by 3.6% in the 1st quarter. Northern Trust Corp now owns 2,374,063 shares of the asset manager's stock worth $218,105,000 after buying an additional 83,324 shares in the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW traded down $0.70 during trading on Monday, reaching $105.29. 1,174,609 shares of the company's stock traded hands, compared to its average volume of 1,562,810. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $125.81. The company has a 50 day moving average of $106.09 and a 200-day moving average of $97.55. The stock has a market capitalization of $23.13 billion, a P/E ratio of 11.76, a price-to-earnings-growth ratio of 2.75 and a beta of 1.51.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.09. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the prior year, the firm earned $2.26 EPS. The company's revenue for the quarter was down .6% compared to the same quarter last year. Equities research analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be given a $1.27 dividend. The ex-dividend date is Monday, September 15th. This represents a $5.08 annualized dividend and a yield of 4.8%. T. Rowe Price Group's dividend payout ratio is 56.76%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TROW shares. Morgan Stanley boosted their price objective on shares of T. Rowe Price Group from $112.00 to $116.00 and gave the stock an "equal weight" rating in a report on Monday, August 4th. JPMorgan Chase & Co. boosted their price objective on shares of T. Rowe Price Group from $98.00 to $102.00 and gave the stock an "underweight" rating in a report on Monday, August 4th. Barclays reiterated an "underweight" rating and issued a $95.00 price objective (up previously from $91.00) on shares of T. Rowe Price Group in a report on Monday, August 4th. Evercore ISI reiterated a "positive" rating on shares of T. Rowe Price Group in a report on Friday, September 5th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the stock a "market perform" rating in a report on Monday, August 4th. One investment analyst has rated the stock with a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, T. Rowe Price Group currently has an average rating of "Reduce" and a consensus price target of $101.55.

About T. Rowe Price Group

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.