Mirae Asset Global Investments Co. Ltd. Grows Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Mirae Asset Global Investments Co. Ltd. boosted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROWGet Rating) by 38.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,955 shares of the asset manager’s stock after acquiring an additional 13,538 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in T. Rowe Price Group were worth $7,402,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in TROW. Massmutual Trust Co. FSB ADV raised its stake in shares of T. Rowe Price Group by 24.1% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 365 shares of the asset manager’s stock valued at $55,000 after purchasing an additional 71 shares in the last quarter. Claro Advisors LLC raised its stake in T. Rowe Price Group by 7.2% during the fourth quarter. Claro Advisors LLC now owns 1,104 shares of the asset manager’s stock valued at $217,000 after buying an additional 74 shares in the last quarter. SkyOak Wealth LLC raised its stake in T. Rowe Price Group by 6.0% during the first quarter. SkyOak Wealth LLC now owns 1,360 shares of the asset manager’s stock valued at $206,000 after buying an additional 77 shares in the last quarter. Lindbrook Capital LLC lifted its holdings in T. Rowe Price Group by 7.6% during the 1st quarter. Lindbrook Capital LLC now owns 1,095 shares of the asset manager’s stock worth $166,000 after buying an additional 77 shares during the last quarter. Finally, Triangle Securities Wealth Management grew its position in shares of T. Rowe Price Group by 4.3% in the 1st quarter. Triangle Securities Wealth Management now owns 1,879 shares of the asset manager’s stock worth $284,000 after acquiring an additional 78 shares in the last quarter. 74.94% of the stock is currently owned by institutional investors.

T. Rowe Price Group Stock Performance

Shares of TROW stock opened at $110.05 on Thursday. T. Rowe Price Group, Inc. has a 1 year low of $104.72 and a 1 year high of $223.36. The firm has a market capitalization of $24.84 billion, a PE ratio of 10.62, a price-to-earnings-growth ratio of 2.34 and a beta of 1.29. The stock has a fifty day moving average of $121.62 and a two-hundred day moving average of $126.97.

T. Rowe Price Group (NASDAQ:TROWGet Rating) last issued its quarterly earnings data on Thursday, July 28th. The asset manager reported $1.79 earnings per share for the quarter, missing analysts’ consensus estimates of $2.64 by ($0.85). The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.68 billion. T. Rowe Price Group had a net margin of 33.26% and a return on equity of 28.18%. T. Rowe Price Group’s revenue for the quarter was down 20.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.31 earnings per share. Equities research analysts predict that T. Rowe Price Group, Inc. will post 8.24 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 15th will be issued a dividend of $1.20 per share. The ex-dividend date is Wednesday, September 14th. This represents a $4.80 annualized dividend and a yield of 4.36%. T. Rowe Price Group’s payout ratio is 46.33%.

Insiders Place Their Bets

In related news, VP Andrew Justin Mackenzi Thomson sold 11,891 shares of T. Rowe Price Group stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $126.91, for a total transaction of $1,509,086.81. Following the transaction, the vice president now directly owns 136,410 shares of the company’s stock, valued at $17,311,793.10. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, VP Andrew Justin Mackenzi Thomson sold 11,891 shares of the firm’s stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $126.91, for a total transaction of $1,509,086.81. Following the completion of the sale, the vice president now directly owns 136,410 shares in the company, valued at $17,311,793.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jessica M. Hiebler sold 959 shares of the stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $124.57, for a total value of $119,462.63. Following the sale, the insider now owns 12,183 shares of the company’s stock, valued at approximately $1,517,636.31. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on TROW shares. TheStreet cut T. Rowe Price Group from a “b-” rating to a “c” rating in a research note on Wednesday, July 13th. The Goldman Sachs Group decreased their price target on shares of T. Rowe Price Group from $118.00 to $100.00 and set a “sell” rating for the company in a report on Wednesday, June 29th. UBS Group dropped their price objective on shares of T. Rowe Price Group from $88.00 to $84.00 and set a “sell” rating on the stock in a research note on Friday, July 29th. Morgan Stanley lowered their target price on T. Rowe Price Group from $124.00 to $123.00 and set an “equal weight” rating for the company in a report on Friday, July 29th. Finally, JPMorgan Chase & Co. cut their price target on T. Rowe Price Group from $117.00 to $94.00 and set an “underweight” rating on the stock in a report on Monday, July 18th. Five equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, T. Rowe Price Group has a consensus rating of “Hold” and a consensus target price of $132.30.

About T. Rowe Price Group

(Get Rating)

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.

Further Reading

Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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