DNB Asset Management AS Has $4.45 Million Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

DNB Asset Management AS lifted its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 8.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,614 shares of the asset manager’s stock after purchasing an additional 3,112 shares during the quarter. DNB Asset Management AS’s holdings in T. Rowe Price Group were worth $4,453,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Curbstone Financial Management Corp boosted its holdings in shares of T. Rowe Price Group by 6.1% during the 2nd quarter. Curbstone Financial Management Corp now owns 5,700 shares of the asset manager’s stock worth $657,000 after buying an additional 330 shares during the period. Massmutual Trust Co. FSB ADV boosted its holdings in shares of T. Rowe Price Group by 7.4% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,328 shares of the asset manager’s stock worth $153,000 after buying an additional 92 shares during the period. GAMMA Investing LLC boosted its holdings in T. Rowe Price Group by 70.7% in the 2nd quarter. GAMMA Investing LLC now owns 3,057 shares of the asset manager’s stock valued at $353,000 after purchasing an additional 1,266 shares during the period. Cullen Investment Group LTD. boosted its holdings in T. Rowe Price Group by 7.6% in the 2nd quarter. Cullen Investment Group LTD. now owns 10,396 shares of the asset manager’s stock valued at $1,199,000 after purchasing an additional 732 shares during the period. Finally, Bank of New Hampshire boosted its holdings in T. Rowe Price Group by 19.8% in the 2nd quarter. Bank of New Hampshire now owns 1,030 shares of the asset manager’s stock valued at $119,000 after purchasing an additional 170 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

Wall Street Analysts Forecast Growth

TROW has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their price objective on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a report on Tuesday, July 23rd. Morgan Stanley increased their target price on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 17th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of T. Rowe Price Group from $122.00 to $112.00 and set a “hold” rating for the company in a research report on Monday, July 29th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $120.00 price objective (down previously from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. Finally, Evercore ISI reduced their target price on shares of T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 30th. Three equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $114.56.

Insider Activity at T. Rowe Price Group

In related news, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total transaction of $234,000.00. Following the sale, the vice president now directly owns 34,710 shares of the company’s stock, valued at approximately $4,061,070. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,401 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $115.85, for a total transaction of $162,305.85. Following the sale, the insider now directly owns 14,198 shares of the company’s stock, valued at approximately $1,644,838.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Dorothy C. Sawyer sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total transaction of $234,000.00. Following the sale, the vice president now directly owns 34,710 shares in the company, valued at $4,061,070. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

T. Rowe Price Group Stock Performance

NASDAQ TROW opened at $103.89 on Wednesday. The firm has a 50-day moving average of $115.34 and a 200-day moving average of $114.19. The stock has a market cap of $23.13 billion, a PE ratio of 12.34, a P/E/G ratio of 1.65 and a beta of 1.42. T. Rowe Price Group, Inc. has a 52-week low of $87.43 and a 52-week high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, July 26th. The asset manager reported $2.26 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same quarter last year, the firm earned $2.02 EPS. T. Rowe Price Group’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, analysts predict that T. Rowe Price Group, Inc. will post 8.98 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.77%. The ex-dividend date of this dividend is Friday, September 13th. T. Rowe Price Group’s dividend payout ratio is currently 58.91%.

T. Rowe Price Group 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.