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

Mirae Asset Global Investments Co. Ltd. lifted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 246,833 shares of the asset manager’s stock after acquiring an additional 8,054 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.11% of T. Rowe Price Group worth $25,335,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. TD Waterhouse Canada Inc. boosted its position in T. Rowe Price Group by 66.7% during the second quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock worth $25,000 after purchasing an additional 100 shares during the period. Root Financial Partners LLC bought a new position in shares of T. Rowe Price Group during the third quarter worth approximately $30,000. Salomon & Ludwin LLC lifted its holdings in T. Rowe Price Group by 84.3% during the 3rd quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager’s stock worth $33,000 after purchasing an additional 145 shares during the last quarter. Vermillion & White Wealth Management Group LLC boosted its stake in T. Rowe Price Group by 120.0% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 174 shares during the period. Finally, Atlantic Union Bankshares Corp acquired a new position in T. Rowe Price Group in the 2nd quarter valued at $35,000. Institutional investors own 73.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on TROW shares. Keefe, Bruyette & Woods reduced their target price on shares of T. Rowe Price Group from $117.00 to $115.00 and set a “market perform” rating for the company in a research report on Tuesday, December 16th. Evercore ISI boosted their price objective on shares of T. Rowe Price Group from $115.00 to $116.00 in a report on Monday, January 12th. Jefferies Financial Group raised their target price on shares of T. Rowe Price Group from $104.00 to $106.00 and gave the stock a “hold” rating in a report on Tuesday, October 7th. Zacks Research downgraded shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on T. Rowe Price Group from $113.00 to $106.00 and set a “hold” rating on the stock in a research report on Wednesday, December 17th. Eleven analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, T. Rowe Price Group presently has an average rating of “Reduce” and an average target price of $107.31.

T. Rowe Price Group Stock Down 0.4%

T. Rowe Price Group stock opened at $104.82 on Friday. The stock has a market cap of $22.88 billion, a PE ratio of 11.42, a P/E/G ratio of 2.55 and a beta of 1.52. The business’s 50-day moving average price is $104.57 and its two-hundred day moving average price is $104.62. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $118.32.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.26. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.88 billion. T. Rowe Price Group had a net margin of 28.89% and a return on equity of 19.95%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the business posted $2.57 earnings per share. As a group, analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

Insider Activity

In related news, VP Arif Husain sold 4,260 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total value of $434,349.60. Following the completion of the transaction, the vice president owned 47,102 shares in the company, valued at $4,802,519.92. This trade represents a 8.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is owned by corporate insiders.

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.