Avanza Fonder AB Takes Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Avanza Fonder AB acquired a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 18,435 shares of the asset manager's stock, valued at approximately $2,085,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Insight Folios Inc boosted its holdings 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 purchasing an additional 90 shares during the last quarter. Keystone Financial Services raised its stake in shares of T. Rowe Price Group by 5.1% in the third quarter. Keystone Financial Services now owns 1,885 shares of the asset manager's stock valued at $205,000 after acquiring an additional 92 shares in the last quarter. Nvwm LLC raised its stake in shares of T. Rowe Price Group by 2.2% in the third quarter. Nvwm LLC now owns 4,496 shares of the asset manager's stock valued at $490,000 after acquiring an additional 95 shares in the last quarter. Strategy Asset Managers LLC raised its stake in T. Rowe Price Group by 4.6% in the third quarter. Strategy Asset Managers LLC now owns 2,169 shares of the asset manager's stock valued at $236,000 after buying an additional 95 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in 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 valued at $49,000 after buying an additional 99 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company's stock.

Insider Activity

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business's stock in a transaction dated Tuesday, December 10th. The shares were 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 owns 119,577 shares of the company's stock, valued at $14,749,822.95. This represents a 3.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.00% of the company's stock.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock traded up $1.08 during trading on Friday, reaching $113.21. 1,182,106 shares of the company's stock were exchanged, compared to its average volume of 1,142,590. The company's 50-day moving average is $117.71 and its two-hundred day moving average is $112.84. T. Rowe Price Group, Inc. has a 52-week low of $100.49 and a 52-week high of $125.81. The firm has a market cap 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 - Get Free Report) last issued its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, topping analysts' consensus estimates of $2.36 by $0.21. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the previous year, the business posted $2.17 EPS. The firm's revenue was up 6.9% compared to the same quarter last year. Analysts anticipate that T. Rowe Price Group, Inc. will post 9.46 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were paid a $1.24 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.38%. T. Rowe Price Group's dividend payout ratio (DPR) is presently 54.27%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Evercore ISI raised their price objective on 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. Keefe, Bruyette & Woods reduced their price objective on shares of T. Rowe Price Group from $116.00 to $111.00 and set a "market perform" rating for the company in a research report on Monday, January 13th. Wells Fargo & Company reduced their price objective on shares of T. Rowe Price Group from $124.00 to $118.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 14th. StockNews.com downgraded shares of T. Rowe Price Group from a "buy" rating to a "hold" rating in a research report on Friday. Finally, Morgan Stanley lifted their price target on shares of T. Rowe Price Group from $129.00 to $132.00 and gave the company an "equal weight" rating in a research report on Friday, December 20th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $115.82.

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.