Avanza Fonder AB Makes New $2.09 Million Investment in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Avanza Fonder AB bought a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the fourth quarter, Holdings Channel reports. The fund bought 18,435 shares of the asset manager’s stock, valued at approximately $2,085,000.

Several other large investors also recently modified their holdings of the stock. Insight Folios Inc raised its position in shares of T. Rowe Price Group by 3.6% in the third quarter. Insight Folios Inc now owns 2,612 shares of the asset manager’s stock valued at $285,000 after purchasing an additional 90 shares during the period. Keystone Financial Services grew its stake in T. Rowe Price Group by 5.1% in the 3rd quarter. Keystone Financial Services now owns 1,885 shares of the asset manager’s stock valued at $205,000 after buying an additional 92 shares in the last quarter. Nvwm LLC raised its holdings 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 acquiring an additional 95 shares during the period. Strategy Asset Managers LLC lifted its position in shares of T. Rowe Price Group by 4.6% during the third quarter. Strategy Asset Managers LLC now owns 2,169 shares of the asset manager’s stock worth $236,000 after acquiring an additional 95 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of T. Rowe Price Group by 29.9% in the second quarter. EverSource Wealth Advisors LLC now owns 430 shares of the asset manager’s stock worth $49,000 after acquiring an additional 99 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Analyst Ratings Changes

TROW has been the topic of a number of recent research reports. Wells Fargo & Company dropped their price objective on T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. JPMorgan Chase & Co. cut their price objective on shares of 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. TD Cowen decreased their target price on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Keefe, Bruyette & Woods cut their price target on shares of T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating for the company in a report on Monday, January 13th. Finally, Evercore ISI upped their price target on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $115.82.

Insider Buying and Selling

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the 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 completion of the sale, the vice president now directly owns 119,577 shares in the company, valued at $14,749,822.95. This represents a 3.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.00% of the stock is owned by corporate insiders.

T. Rowe Price Group Stock Up 1.0 %

NASDAQ TROW opened at $113.21 on Friday. The stock’s 50-day simple moving average is $117.71 and its two-hundred day simple moving average is $112.85. T. Rowe Price Group, Inc. has a twelve month low of $100.49 and a twelve month high of $125.81. The company has a market capitalization of $25.15 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 1.42 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the previous year, the company posted $2.17 EPS. T. Rowe Price Group’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, equities analysts expect that T. Rowe Price Group, Inc. will post 9.46 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 4.38%. The ex-dividend date was Friday, December 13th. T. Rowe Price Group’s dividend payout ratio is currently 54.27%.

T. Rowe Price Group Company 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.