Asahi Life Asset Management CO. LTD. Purchases Shares of 3,710 T. Rowe Price Group, Inc. $TROW

Asahi Life Asset Management CO. LTD. bought a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,710 shares of the asset manager’s stock, valued at approximately $358,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Arrowroot Family Office LLC purchased a new position in shares of T. Rowe Price Group during the 2nd quarter worth $224,000. Commonwealth Retirement Investments LLC bought a new position in T. Rowe Price Group in the 2nd quarter worth $2,765,000. Crestwood Advisors Group LLC purchased a new position in T. Rowe Price Group during the second quarter valued at $219,000. NewSquare Capital LLC grew its holdings in T. Rowe Price Group by 4.4% during the second quarter. NewSquare Capital LLC now owns 55,462 shares of the asset manager’s stock valued at $5,273,000 after purchasing an additional 2,325 shares during the period. Finally, Northcape Wealth Management LLC increased its position in T. Rowe Price Group by 6.6% in the second quarter. Northcape Wealth Management LLC now owns 4,035 shares of the asset manager’s stock worth $389,000 after buying an additional 250 shares in the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW opened at $102.15 on Friday. The company has a market cap of $22.29 billion, a P/E ratio of 11.41, a P/E/G ratio of 5.61 and a beta of 1.51. T. Rowe Price Group, Inc. has a 52-week low of $77.85 and a 52-week high of $125.81. The firm’s fifty day moving average is $104.55 and its two-hundred day moving average is $100.56.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, October 31st. The asset manager reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.26. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the previous year, the business earned $2.57 earnings per share. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be paid a $1.27 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $5.08 annualized dividend and a yield of 5.0%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 55.34%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on TROW shares. JPMorgan Chase & Co. boosted their price objective on T. Rowe Price Group from $109.00 to $111.00 and gave the company an “underweight” rating in a research note on Monday. Evercore ISI lifted their price target on shares of T. Rowe Price Group from $115.00 to $118.00 and gave the company an “in-line” rating in a report on Thursday, October 9th. Keefe, Bruyette & Woods increased their price objective on shares of T. Rowe Price Group from $115.00 to $117.00 and gave the stock a “market perform” rating in a research note on Monday. The Goldman Sachs Group raised their price objective on shares of T. Rowe Price Group from $93.00 to $98.00 in a research report on Monday. Finally, Barclays set a $101.00 target price on shares of T. Rowe Price Group in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $109.31.

Insider Transactions at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,090 shares of the company’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $105.01, for a total value of $324,480.90. Following the transaction, the director directly owned 47,335 shares in the company, valued at approximately $4,970,648.35. This represents a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.00% of the stock is currently owned by insiders.

About T. Rowe Price Group

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.