Skandinaviska Enskilda Banken AB publ Buys 600 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Skandinaviska Enskilda Banken AB publ raised its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 43,293 shares of the asset manager’s stock after purchasing an additional 600 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in T. Rowe Price Group were worth $4,994,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Lynx Investment Advisory acquired a new stake in shares of T. Rowe Price Group in the 2nd quarter valued at about $29,000. Family Firm Inc. acquired a new stake in T. Rowe Price Group in the second quarter valued at approximately $36,000. Versant Capital Management Inc raised its position in shares of T. Rowe Price Group by 660.5% during the second quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock worth $38,000 after purchasing an additional 284 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of T. Rowe Price Group by 93.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 331 shares of the asset manager’s stock worth $40,000 after purchasing an additional 160 shares in the last quarter. Finally, Riverview Trust Co lifted its holdings in shares of T. Rowe Price Group by 136.4% in the 2nd quarter. Riverview Trust Co now owns 357 shares of the asset manager’s stock worth $41,000 after purchasing an additional 206 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on TROW. Wells Fargo & Company initiated coverage on shares of T. Rowe Price Group in a research note on Thursday, September 12th. They set an “equal weight” rating and a $109.00 price target for the company. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Barclays started coverage on shares of T. Rowe Price Group in a research report on Tuesday, August 27th. They issued an “underweight” rating and a $99.00 price target on the stock. Evercore ISI decreased their price objective on T. Rowe Price Group from $115.00 to $108.00 and set an “in-line” rating for the company in a report on Thursday, September 5th. Finally, TD Cowen dropped their target price on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating on the stock in a report on Monday, July 29th. Three analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $113.30.

Insider Buying and Selling

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,401 shares of the firm’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total value of $162,305.85. Following the completion of the sale, the insider now directly owns 14,198 shares of the company’s stock, valued at $1,644,838.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,401 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $115.85, for a total transaction of $162,305.85. Following the completion of the transaction, the insider now owns 14,198 shares in the company, valued at $1,644,838.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the completion of the transaction, the insider now owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,854 shares of company stock valued at $1,443,767. 2.00% of the stock is owned by company insiders.

T. Rowe Price Group Trading Down 2.0 %

Shares of TROW opened at $108.29 on Monday. The stock has a 50 day moving average of $108.80 and a 200 day moving average of $113.25. The company has a market capitalization of $24.18 billion, a price-to-earnings ratio of 12.86, a PEG ratio of 1.69 and a beta of 1.41. T. Rowe Price Group, Inc. has a 12 month low of $87.43 and a 12 month high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same period last year, the firm posted $2.02 earnings per share. T. Rowe Price Group’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, equities research analysts predict that T. Rowe Price Group, Inc. will post 9 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a dividend of $1.24 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.58%. T. Rowe Price Group’s payout ratio is currently 58.91%.

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.