Mitsubishi UFJ Asset Management Co. Ltd. Has $54.49 Million Stock Position in T. Rowe Price Group, Inc. $TROW

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 520,782 shares of the asset manager’s stock after buying an additional 18,952 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.24% of T. Rowe Price Group worth $54,489,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in T. Rowe Price Group by 540.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock worth $29,000 after purchasing an additional 238 shares during the last quarter. Root Financial Partners LLC bought a new stake in T. Rowe Price Group in the third quarter worth about $30,000. Sound Income Strategies LLC raised its position in T. Rowe Price Group by 170.3% in the fourth quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock worth $32,000 after acquiring an additional 189 shares during the period. Canton Hathaway LLC bought a new stake in T. Rowe Price Group in the fourth quarter worth about $31,000. Finally, Quent Capital LLC bought a new stake in T. Rowe Price Group in the third quarter worth about $39,000. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Up 1.7%

NASDAQ TROW opened at $105.33 on Friday. The company’s 50 day moving average is $93.48 and its 200-day moving average is $99.20. T. Rowe Price Group, Inc. has a 12-month low of $85.22 and a 12-month high of $118.22. The firm has a market cap of $22.57 billion, a P/E ratio of 11.29, a price-to-earnings-growth ratio of 4.53 and a beta of 1.51.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.15. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the previous year, the firm posted $2.23 earnings per share. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. Equities analysts expect that T. Rowe Price Group, Inc. will post 9.61 EPS for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be given a $1.30 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $5.20 annualized dividend and a dividend yield of 4.9%. T. Rowe Price Group’s payout ratio is 55.73%.

Wall Street Analysts Forecast Growth

Several analysts have commented on TROW shares. Zacks Research lowered shares of T. Rowe Price Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 14th. The Goldman Sachs Group lifted their price objective on shares of T. Rowe Price Group from $85.00 to $90.00 in a research report on Friday, May 1st. Argus raised shares of T. Rowe Price Group to a “hold” rating in a research report on Thursday, February 5th. Evercore set a $104.00 price objective on shares of T. Rowe Price Group in a research report on Friday, May 1st. Finally, Jefferies Financial Group lowered their price objective on shares of T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating on the stock in a research report on Wednesday, April 8th. Ten investment analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $99.54.

About T. Rowe Price Group

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.