Handelsbanken Fonder AB Sells 4,014 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Handelsbanken Fonder AB reduced its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 7.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 47,448 shares of the asset manager’s stock after selling 4,014 shares during the quarter. Handelsbanken Fonder AB’s holdings in T. Rowe Price Group were worth $5,366,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Insight Folios Inc lifted its stake in shares of T. Rowe Price Group by 3.6% during the 3rd quarter. Insight Folios Inc now owns 2,612 shares of the asset manager’s stock worth $285,000 after acquiring an additional 90 shares during the last quarter. Keystone Financial Services lifted its stake in shares of T. Rowe Price Group by 5.1% during the 3rd quarter. Keystone Financial Services now owns 1,885 shares of the asset manager’s stock worth $205,000 after acquiring an additional 92 shares during the last quarter. MCF Advisors LLC raised its position in T. Rowe Price Group by 1.5% during the 4th quarter. MCF Advisors LLC now owns 6,226 shares of the asset manager’s stock valued at $704,000 after purchasing an additional 93 shares in the last quarter. Nvwm LLC raised its position in T. Rowe Price Group by 2.2% during the 3rd quarter. Nvwm LLC now owns 4,496 shares of the asset manager’s stock valued at $490,000 after purchasing an additional 95 shares in the last quarter. Finally, Strategy Asset Managers LLC raised its position in T. Rowe Price Group by 4.6% during the 3rd quarter. Strategy Asset Managers LLC now owns 2,169 shares of the asset manager’s stock valued at $236,000 after purchasing an additional 95 shares in the last quarter. 73.39% of the stock is owned by institutional investors.

T. Rowe Price Group Price Performance

Shares of TROW stock opened at $106.27 on Monday. T. Rowe Price Group, Inc. has a 1-year low of $100.49 and a 1-year high of $125.81. The stock’s fifty day moving average price is $112.79 and its 200 day moving average price is $112.42. The company has a market cap of $23.66 billion, a price-to-earnings ratio of 11.60, a price-to-earnings-growth ratio of 2.86 and a beta of 1.44.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same period in the previous year, the company earned $1.72 EPS. As a group, equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 4.78%. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend is Friday, March 14th. T. Rowe Price Group’s payout ratio is 54.15%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on TROW shares. TD Cowen decreased their target price on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft lifted their target price on T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. decreased their target price on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. Wells Fargo & Company decreased their target price on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $113.00 price target (up from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $115.09.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total transaction of $499,197.45. Following the sale, the vice president now owns 119,577 shares in the company, valued at approximately $14,749,822.95. The trade was a 3.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Arif Husain sold 4,112 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value of $449,318.24. Following the sale, the vice president now owns 36,800 shares in the company, valued at approximately $4,021,136. The trade was a 10.05 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

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.