Mitsubishi UFJ Asset Management Co. Ltd. Has $51.51 Million Position in T. Rowe Price Group, Inc. $TROW

Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 501,830 shares of the asset manager’s stock after buying an additional 20,507 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in T. Rowe Price Group were worth $51,508,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Fidelis Capital Partners LLC bought a new position in T. Rowe Price Group during the third quarter worth $540,000. Candriam S.C.A. increased its stake in T. Rowe Price Group by 20.4% in the second quarter. Candriam S.C.A. now owns 30,931 shares of the asset manager’s stock valued at $2,985,000 after purchasing an additional 5,236 shares in the last quarter. Greenspring Advisors LLC acquired a new position in shares of T. Rowe Price Group during the third quarter valued at about $1,583,000. First Citizens Bank & Trust Co. boosted its position in shares of T. Rowe Price Group by 141.9% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 175,885 shares of the asset manager’s stock worth $18,053,000 after purchasing an additional 103,174 shares in the last quarter. Finally, Allen Wealth Management LLC boosted its position in shares of T. Rowe Price Group by 459.3% during the 3rd quarter. Allen Wealth Management LLC now owns 13,855 shares of the asset manager’s stock worth $1,422,000 after purchasing an additional 11,378 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

Insider Activity

In related news, VP Arif Husain sold 4,260 shares of the stock in a transaction that occurred on Wednesday, December 10th. The stock was 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 of the company’s stock, valued at approximately $4,802,519.92. This trade represents a 8.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

TROW has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft decreased their target price on T. Rowe Price Group from $106.00 to $100.00 and set a “hold” rating for the company in a research report on Thursday, February 5th. Keefe, Bruyette & Woods decreased their price objective on T. Rowe Price Group from $115.00 to $110.00 and set a “market perform” rating for the company in a report on Thursday, February 5th. JPMorgan Chase & Co. lowered their target price on T. Rowe Price Group from $108.00 to $106.00 and set an “underweight” rating on the stock in a research report on Thursday, February 5th. Evercore cut their target price on T. Rowe Price Group from $116.00 to $106.00 and set an “in-line” rating on the stock in a report on Thursday, February 5th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of T. Rowe Price Group in a research note on Monday, December 29th. Twelve analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $102.23.

T. Rowe Price Group Price Performance

NASDAQ TROW opened at $94.63 on Friday. The company has a fifty day moving average price of $101.51 and a 200-day moving average price of $103.32. The firm has a market cap of $20.64 billion, a price-to-earnings ratio of 10.23, a PEG ratio of 4.88 and a beta of 1.53. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Wednesday, February 4th. The asset manager reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.47 by ($0.03). T. Rowe Price Group had a return on equity of 20.29% and a net margin of 28.53%.The firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter last year, the firm posted $2.12 earnings per share. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, research analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date is Monday, March 16th. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.27. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 54.92%.

T. Rowe Price Group 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.