Resona Asset Management Co. Ltd. Has $9.38 Million Stock Position in T. Rowe Price Group, Inc. $TROW

Resona Asset Management Co. Ltd. lowered its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 6.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 91,146 shares of the asset manager’s stock after selling 5,974 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in T. Rowe Price Group were worth $9,382,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. raised its holdings in T. Rowe Price Group by 66.7% during the 2nd 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 last quarter. Root Financial Partners LLC bought a new stake in shares of T. Rowe Price Group during the third quarter worth approximately $30,000. Vermillion & White Wealth Management Group LLC lifted its holdings in T. Rowe Price Group by 120.0% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock valued at $31,000 after buying an additional 174 shares during the period. Salomon & Ludwin LLC lifted its holdings in T. Rowe Price Group by 84.3% in the third quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager’s stock valued at $33,000 after buying an additional 145 shares during the period. Finally, Atlantic Union Bankshares Corp bought a new position in T. Rowe Price Group in the second quarter valued at approximately $35,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on the stock. Bank of America upped their target price on shares of T. Rowe Price Group from $85.00 to $86.00 in a research report on Wednesday, January 14th. Evercore ISI upped their price objective on T. Rowe Price Group from $115.00 to $116.00 in a report on Monday, January 12th. Zacks Research cut T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. JPMorgan Chase & Co. decreased their target price on T. Rowe Price Group from $111.00 to $108.00 and set an “underweight” rating for the company in a research report on Tuesday, January 20th. Finally, Barclays cut their price target on shares of T. Rowe Price Group from $102.00 to $101.00 and set an “underweight” rating on the stock in a research report on Thursday, January 15th. Eleven research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, T. Rowe Price Group has an average rating of “Reduce” and an average price target of $107.31.

Insider Activity at T. Rowe Price Group

In related news, VP Arif Husain sold 4,260 shares of the business’s stock in a transaction 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 sale, the vice president directly owned 47,102 shares of the company’s stock, valued at approximately $4,802,519.92. The trade was a 8.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is currently owned by insiders.

T. Rowe Price Group Price Performance

NASDAQ TROW opened at $106.09 on Tuesday. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $118.32. The firm has a market cap of $23.15 billion, a P/E ratio of 11.56, a P/E/G ratio of 2.56 and a beta of 1.52. The stock’s 50-day moving average is $104.10 and its 200-day moving average is $104.59.

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

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.