Mirae Asset Global Investments Co. Ltd. Has $25.34 Million Stake in T. Rowe Price Group, Inc. $TROW

Mirae Asset Global Investments Co. Ltd. boosted its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 246,833 shares of the asset manager’s stock after purchasing an additional 8,054 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in T. Rowe Price Group were worth $25,335,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. First Trust Advisors LP lifted its position in shares of T. Rowe Price Group by 137.7% during the 2nd quarter. First Trust Advisors LP now owns 3,441,458 shares of the asset manager’s stock valued at $332,101,000 after acquiring an additional 1,993,920 shares during the period. Norges Bank acquired a new stake in shares of T. Rowe Price Group in the 2nd quarter worth about $82,756,000. ARGA Investment Management LP raised its stake in shares of T. Rowe Price Group by 3,807.3% in the second quarter. ARGA Investment Management LP now owns 477,161 shares of the asset manager’s stock worth $46,046,000 after purchasing an additional 464,949 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in T. Rowe Price Group in the 2nd quarter valued at $37,722,000. Finally, ProShare Advisors LLC raised its holdings in shares of T. Rowe Price Group by 21.7% in the second quarter. ProShare Advisors LLC now owns 1,887,935 shares of the asset manager’s stock valued at $182,186,000 after purchasing an additional 337,112 shares during the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Price Performance

Shares of TROW opened at $104.82 on Friday. The firm has a market cap of $22.88 billion, a P/E ratio of 11.42, a P/E/G ratio of 2.55 and a beta of 1.52. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $118.32. The stock has a 50 day simple moving average of $104.57 and a two-hundred day simple moving average of $104.62.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, October 31st. The asset manager reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.55 by $0.26. T. Rowe Price Group had a net margin of 28.89% and a return on equity of 19.95%. The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter in the prior year, the company earned $2.57 EPS. The firm’s revenue was up 6.0% on a year-over-year basis. On average, equities analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Arif Husain sold 4,260 shares of the company’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total transaction of $434,349.60. Following the completion of the sale, the vice president directly owned 47,102 shares in the company, valued at $4,802,519.92. This represents a 8.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently commented on the company. Morgan Stanley lifted their price target on T. Rowe Price Group from $126.00 to $128.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 17th. Weiss Ratings restated a “hold (c+)” rating on shares of T. Rowe Price Group in a research note on Monday, December 29th. Zacks Research cut T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Keefe, Bruyette & Woods decreased their target price on shares of T. Rowe Price Group from $117.00 to $115.00 and set a “market perform” rating on the stock in a report on Tuesday, December 16th. Finally, Evercore ISI upped their target price on T. Rowe Price Group from $115.00 to $116.00 in a research note on Monday, January 12th. Eleven research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, T. Rowe Price Group currently has an average rating of “Reduce” and a consensus price target of $107.31.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.