KLP Kapitalforvaltning AS Takes Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

KLP Kapitalforvaltning AS bought a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 123,016 shares of the asset manager's stock, valued at approximately $13,912,000. KLP Kapitalforvaltning AS owned 0.06% of T. Rowe Price Group at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TROW. Addison Advisors LLC boosted its position in T. Rowe Price Group by 67.4% during the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager's stock worth $26,000 after acquiring an additional 93 shares during the period. Curio Wealth LLC acquired a new position in T. Rowe Price Group in the 4th quarter valued at approximately $27,000. Y.D. More Investments Ltd lifted its position in T. Rowe Price Group by 124.0% in the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager's stock worth $32,000 after buying an additional 155 shares in the last quarter. Stonebridge Financial Group LLC purchased a new position in shares of T. Rowe Price Group during the 4th quarter valued at $32,000. Finally, Advantage Trust Co increased its stake in shares of T. Rowe Price Group by 48.8% in the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager's stock worth $34,000 after acquiring an additional 100 shares during the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Down 2.3 %

NASDAQ TROW traded down $2.21 during midday trading on Friday, hitting $92.49. The company had a trading volume of 281,173 shares, compared to its average volume of 1,752,167. T. Rowe Price Group, Inc. has a fifty-two week low of $91.37 and a fifty-two week high of $125.81. The stock has a market cap of $20.59 billion, a price-to-earnings ratio of 10.09, a P/E/G ratio of 2.86 and a beta of 1.46. The firm has a fifty day simple moving average of $105.04 and a two-hundred day simple moving average of $110.90.

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T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. During the same quarter last year, the firm posted $1.72 earnings per share. As a group, equities analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 5.49%. This is a boost from T. Rowe Price Group's previous quarterly dividend of $1.24. The ex-dividend date is Friday, March 14th. T. Rowe Price Group's dividend payout ratio is 55.46%.

Analyst Ratings Changes

A number of research analysts have commented on TROW shares. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $113.00 target price (up previously from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. StockNews.com cut shares of T. Rowe Price Group from a "buy" rating to a "hold" rating in a report on Sunday, February 2nd. Morgan Stanley reduced their price target on T. Rowe Price Group from $126.00 to $121.00 and set an "equal weight" rating for the company in a research report on Monday, February 24th. Barclays cut their price objective on T. Rowe Price Group from $113.00 to $105.00 and set an "underweight" rating on the stock in a research note on Thursday, February 6th. Finally, Wells Fargo & Company lowered their price target on T. Rowe Price Group from $118.00 to $116.00 and set an "equal weight" rating on the stock in a report on Thursday, February 6th. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the company's stock. According to MarketBeat, T. Rowe Price Group has a consensus rating of "Hold" and a consensus target price of $114.09.

Insider Buying and Selling

In other news, VP Arif Husain sold 4,112 shares of the firm's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total value of $449,318.24. Following the completion of the sale, the vice president now directly owns 36,800 shares in the company, valued at approximately $4,021,136. This trade represents a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 2.00% of the stock is currently owned by corporate 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.