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T. Rowe Price Group Inc. (TROW) Position Reduced by Skandinaviska Enskilda Banken AB publ - http://earlyretireonline.com | how to earn money fast

January 14, 2018 1:30 am
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Skandinaviska Enskilda Banken AB publ lowered its position in shares of T. Rowe Price Group Inc. (NASDAQ:TROW) by 18.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 301,633 shares of the company’s stock after selling 67,600 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in T. Rowe Price Group were worth $20,059,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Banced Corp acquired a new position in T. Rowe Price Group during the second quarter worth about $465,000. Creative Planning boosted its stake in shares of T. Rowe Price Group by 5.7% in the second quarter. Creative Planning now owns 4,362 shares of the company’s stock worth $318,000 after buying an additional 236 shares during the period. Catawba Capital Management VA boosted its stake in shares of T. Rowe Price Group by 0.4% in the second quarter. Catawba Capital Management VA now owns 47,987 shares of the company’s stock worth $3,502,000 after buying an additional 170 shares during the period. Nordea Investment Management AB boosted its stake in shares of T. Rowe Price Group by 32.4% in the second quarter. Nordea Investment Management AB now owns 342,364 shares of the company’s stock worth $24,982,000 after buying an additional 83,764 shares during the period. Finally, McQueen Ball & Associates Inc. boosted its stake in shares of T. Rowe Price Group by 0.8% in the second quarter. McQueen Ball & Associates Inc. now owns 3,212 shares of the company’s stock worth $234,000 after buying an additional 24 shares during the period. Institutional investors own 69.10% of the company’s stock.

T. Rowe Price Group Inc. (NASDAQ:TROW) traded up 0.291% during midday trading on Tuesday, hitting $76.813. The stock had a trading volume of 192,626 shares. The stock’s 50-day moving average is $73.86 and its 200-day moving average is $70.32. The stock has a market capitalization of $18.70 billion, a PE ratio of 17.331 and a beta of 1.28. T. Rowe Price Group Inc. has a 1-year low of $62.97 and a 1-year high of $79.00.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Thursday, October 27th. The company reported $1.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.18 by $0.01. The business earned $1.10 billion during the quarter, compared to the consensus estimate of $1.08 billion. T. Rowe Price Group had a return on equity of 24.78% and a net margin of 26.71%. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.06 earnings per share. On average, equities research analysts anticipate that T. Rowe Price Group Inc. will post $4.38 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 29th. Shareholders of record on Thursday, December 15th will be issued a $0.54 dividend. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $2.16 dividend on an annualized basis and a yield of 2.82%. T. Rowe Price Group’s payout ratio is currently 49.54%.

A number of analysts have recently commented on TROW shares. Zacks Investment Research raised T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Tuesday, October 25th. Argus upped their price target on T. Rowe Price Group from $83.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, December 7th. Jefferies Group lowered their price target on T. Rowe Price Group from $83.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, October 11th. Citigroup Inc. reaffirmed a “neutral” rating on shares of T. Rowe Price Group in a research note on Sunday, October 30th. Finally, UBS AG raised T. Rowe Price Group from a “neutral” rating to a “buy” rating and upped their price target for the company from $66.00 to $82.00 in a research note on Thursday, November 10th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $75.40.

In other news, VP Edward A. Wiese sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 13th. The stock was sold at an average price of $76.12, for a total transaction of $228,360.00. Following the completion of the sale, the vice president now owns 150,898 shares in the company, valued at $11,486,355.76. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Christopher D. Alderson sold 133,244 shares of the business’s stock in a transaction that occurred on Tuesday, December 20th. The shares were sold at an average price of $77.67, for a total value of $10,349,061.48. Following the sale, the vice president now owns 190,473 shares of the company’s stock, valued at approximately $14,794,037.91. The disclosure for this sale can be found here. 3.60% of the stock is owned by company insiders.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services to individual and institutional investors in the sponsored T. Rowe Price mutual funds distributed in the United States and other investment portfolios. It operates through investment advisory business segment.

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