Daiwa Securities Group Inc. Grows Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Daiwa Securities Group Inc. increased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,143 shares of the asset manager’s stock after buying an additional 1,094 shares during the quarter. Daiwa Securities Group Inc.’s holdings in T. Rowe Price Group were worth $2,169,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in TROW. Charles Schwab Investment Management Inc. increased its stake in T. Rowe Price Group by 2.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,900,101 shares of the asset manager’s stock worth $513,874,000 after acquiring an additional 134,839 shares during the last quarter. Morgan Stanley increased its stake in T. Rowe Price Group by 0.7% during the third quarter. Morgan Stanley now owns 3,483,350 shares of the asset manager’s stock worth $365,299,000 after acquiring an additional 25,012 shares during the last quarter. Northern Trust Corp increased its stake in T. Rowe Price Group by 4.1% during the third quarter. Northern Trust Corp now owns 2,356,132 shares of the asset manager’s stock worth $247,088,000 after acquiring an additional 93,829 shares during the last quarter. Bank of New York Mellon Corp increased its stake in T. Rowe Price Group by 2.0% during the third quarter. Bank of New York Mellon Corp now owns 2,271,065 shares of the asset manager’s stock worth $238,167,000 after acquiring an additional 44,175 shares during the last quarter. Finally, Invesco Ltd. increased its stake in T. Rowe Price Group by 7.6% during the third quarter. Invesco Ltd. now owns 1,684,057 shares of the asset manager’s stock worth $176,607,000 after acquiring an additional 119,305 shares during the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on TROW shares. Morgan Stanley increased their target price on T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 17th. JPMorgan Chase & Co. increased their target price on T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a research note on Tuesday, April 16th. UBS Group increased their target price on T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research note on Friday, April 12th. Citigroup increased their target price on T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Finally, Keefe, Bruyette & Woods upgraded T. Rowe Price Group from an “underperform” rating to a “market perform” rating and increased their target price for the company from $106.00 to $120.00 in a research note on Thursday, April 11th. Four equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $112.67.

Insiders Place Their Bets

In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 8,740 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the transaction, the director now owns 21,073 shares of the company’s stock, valued at approximately $2,493,357.36. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $118.32, for a total value of $1,034,116.80. Following the sale, the director now owns 21,073 shares of the company’s stock, valued at approximately $2,493,357.36. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jessica M. Hiebler sold 1,138 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $107.13, for a total value of $121,913.94. Following the completion of the sale, the insider now directly owns 14,113 shares in the company, valued at approximately $1,511,925.69. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

T. Rowe Price Group Stock Up 2.5 %

Shares of NASDAQ TROW opened at $111.50 on Tuesday. T. Rowe Price Group, Inc. has a fifty-two week low of $87.43 and a fifty-two week high of $132.76. The business has a 50 day moving average price of $114.75 and a two-hundred day moving average price of $106.89. The firm has a market cap of $24.94 billion, a PE ratio of 14.37, a price-to-earnings-growth ratio of 2.04 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Thursday, February 8th. The asset manager reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.12. T. Rowe Price Group had a return on equity of 18.41% and a net margin of 27.69%. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter last year, the business posted $1.74 EPS. T. Rowe Price Group’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, analysts anticipate that T. Rowe Price Group, Inc. will post 8.36 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.22. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 63.92%.

T. Rowe Price Group Company 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.