Mirae Asset Global Investments Co. Ltd. Acquires 53,703 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Mirae Asset Global Investments Co. Ltd. raised its position in T. Rowe Price Group, Inc. (NASDAQ:TROWFree Report) by 51.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 158,801 shares of the asset manager’s stock after purchasing an additional 53,703 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.07% of T. Rowe Price Group worth $18,580,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Morgan Stanley boosted its stake in shares of 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 valued at $365,299,000 after purchasing an additional 25,012 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of T. Rowe Price Group by 6.7% during the fourth quarter. Fisher Asset Management LLC now owns 1,752,005 shares of the asset manager’s stock worth $188,674,000 after purchasing an additional 109,653 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in T. Rowe Price Group by 21.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,352,683 shares of the asset manager’s stock valued at $145,685,000 after buying an additional 236,697 shares in the last quarter. First Trust Advisors LP increased its holdings in T. Rowe Price Group by 1.3% in the fourth quarter. First Trust Advisors LP now owns 1,173,858 shares of the asset manager’s stock valued at $126,413,000 after buying an additional 15,504 shares in the last quarter. Finally, Confluence Investment Management LLC purchased a new stake in shares of T. Rowe Price Group during the first quarter worth about $130,386,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TROW. Citigroup boosted their price target on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Morgan Stanley upped 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 note on Wednesday, April 17th. JPMorgan Chase & Co. increased their price objective on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a research report on Tuesday, April 16th. TD Cowen raised shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and increased their price objective for the company from $92.00 to $114.00 in a research report on Monday, April 8th. Finally, Evercore ISI lowered their target price on shares of T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating for the company in a report on Tuesday, April 30th. Four equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $112.10.

Check Out Our Latest Report on T. Rowe Price Group

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,043 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $113.08, for a total transaction of $344,102.44. Following the transaction, the director now owns 34,635 shares in the company, valued at $3,916,525.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Robert F. Maclellan sold 3,043 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $113.08, for a total value of $344,102.44. Following the completion of the transaction, the director now directly owns 34,635 shares of the company’s stock, valued at $3,916,525.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jessica M. Hiebler sold 1,401 shares of T. Rowe Price Group stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $115.85, for a total value of $162,305.85. Following the transaction, the insider now directly owns 14,198 shares of the company’s stock, valued at $1,644,838.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,444 shares of company stock valued at $740,408. 2.00% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Trading Down 0.8 %

TROW traded down $0.98 on Friday, reaching $114.79. The company had a trading volume of 853,886 shares, compared to its average volume of 890,380. The company has a fifty day moving average of $115.33 and a 200-day moving average of $113.15. The company has a market capitalization of $25.63 billion, a P/E ratio of 13.63, a PEG ratio of 1.96 and a beta of 1.42. T. Rowe Price Group, Inc. has a one year low of $87.43 and a one year high of $132.76.

T. Rowe Price Group (NASDAQ:TROWGet Free Report) last posted its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.34. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same period in the prior year, the firm earned $1.69 earnings per share. The business’s quarterly revenue was up 13.8% on a year-over-year basis. Research analysts predict that T. Rowe Price Group, Inc. will post 8.84 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Friday, June 14th were given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 4.32%. The ex-dividend date was Friday, June 14th. T. Rowe Price Group’s payout ratio is presently 58.91%.

T. Rowe Price Group Company Profile

(Free Report)

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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