Nomura Asset Management Co. Ltd. grew its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 11.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,598 shares of the asset manager’s stock after acquiring an additional 3,402 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in T. Rowe Price Group were worth $3,046,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Signature Estate & Investment Advisors LLC acquired a new stake in shares of T. Rowe Price Group during the 3rd quarter valued at approximately $118,000. Grove Bank & Trust lifted its position in shares of T. Rowe Price Group by 178.7% during the 3rd quarter. Grove Bank & Trust now owns 1,310 shares of the asset manager’s stock valued at $119,000 after acquiring an additional 840 shares during the period. Bronfman E.L. Rothschild L.P. lifted its position in shares of T. Rowe Price Group by 6.9% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,593 shares of the asset manager’s stock valued at $118,000 after acquiring an additional 103 shares during the period. Quadrant Capital Group LLC lifted its position in shares of T. Rowe Price Group by 5.4% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,749 shares of the asset manager’s stock valued at $121,000 after acquiring an additional 89 shares during the period. Finally, Sun Life Financial INC lifted its position in shares of T. Rowe Price Group by 19,500.0% during the 2nd quarter. Sun Life Financial INC now owns 1,764 shares of the asset manager’s stock valued at $131,000 after acquiring an additional 1,755 shares during the period. Institutional investors own 72.21% of the company’s stock.

Several brokerages recently issued reports on TROW. UBS lifted their price objective on T. Rowe Price Group from $69.00 to $72.00 and gave the stock a “sell” rating in a research report on Friday, October 27th. Morgan Stanley upgraded T. Rowe Price Group from an “underweight” rating to an “equal” rating and lifted their price objective for the stock from $77.00 to $93.00 in a research report on Thursday, October 5th. Goldman Sachs Group upgraded T. Rowe Price Group from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $85.00 to $100.00 in a research report on Thursday, September 28th. Zacks Investment Research upgraded T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a research report on Tuesday, September 12th. Finally, BidaskClub upgraded T. Rowe Price Group from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 14th. Three analysts have rated the stock with a sell rating, six have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $89.67.

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) opened at $102.75 on Monday. The company has a market cap of $24,897.35, a P/E ratio of 20.07, a price-to-earnings-growth ratio of 1.89 and a beta of 1.32. T. Rowe Price Group, Inc. has a 12 month low of $65.33 and a 12 month high of $104.40.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Thursday, October 26th. The asset manager reported $1.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.36 by $0.20. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. T. Rowe Price Group had a net margin of 33.10% and a return on equity of 24.76%. T. Rowe Price Group’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.17 EPS. analysts predict that T. Rowe Price Group, Inc. will post 5.29 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Thursday, December 14th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Wednesday, December 13th. This represents a $2.28 annualized dividend and a yield of 2.22%. T. Rowe Price Group’s payout ratio is currently 37.38%.

In other T. Rowe Price Group news, CFO Kenneth V. Moreland sold 13,041 shares of T. Rowe Price Group stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $90.43, for a total value of $1,179,297.63. Following the completion of the sale, the chief financial officer now directly owns 135,028 shares of the company’s stock, valued at approximately $12,210,582.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP W. Sharps Robert sold 5,000 shares of T. Rowe Price Group stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $98.64, for a total transaction of $493,200.00. The disclosure for this sale can be found here. Insiders sold a total of 81,705 shares of company stock valued at $7,861,938 over the last ninety days. 3.60% of the stock is owned by corporate insiders.

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About T. Rowe Price Group

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.

Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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