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

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 501,830 shares of the asset manager’s stock after acquiring an additional 20,507 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.23% of T. Rowe Price Group worth $51,508,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. TD Waterhouse Canada Inc. lifted its stake 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 last quarter. Root Financial Partners LLC acquired a new position in shares of T. Rowe Price Group during the 3rd quarter worth $30,000. Vermillion & White Wealth Management Group LLC lifted its position in shares of T. Rowe Price Group by 120.0% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock worth $31,000 after buying an additional 174 shares during the last quarter. Salomon & Ludwin LLC boosted its stake 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 in the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new stake in T. Rowe Price Group in the second quarter valued at about $35,000. 73.39% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TROW has been the subject of a number of research reports. Argus raised shares of T. Rowe Price Group to a “hold” rating in a report on Thursday, February 5th. Morgan Stanley lowered their price objective on shares of T. Rowe Price Group from $123.00 to $115.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 10th. Zacks Research downgraded shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Barclays set a $94.00 target price on shares of T. Rowe Price Group in a research note on Thursday, February 5th. Finally, JPMorgan Chase & Co. lowered their price target on shares of T. Rowe Price Group from $108.00 to $106.00 and set an “underweight” rating for the company in a report on Thursday, February 5th. Twelve investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $102.23.

T. Rowe Price Group Stock Down 1.9%

NASDAQ TROW opened at $94.63 on Friday. The company has a market capitalization 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 twelve month low of $77.85 and a twelve month high of $118.22. The stock has a fifty day simple moving average of $101.51 and a 200 day simple moving average of $103.32.

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

T. Rowe Price Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 16th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $5.20 dividend on an annualized basis and a yield of 5.5%. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.27. T. Rowe Price Group’s payout ratio is currently 54.92%.

Insider Transactions at T. Rowe Price Group

In other news, VP Arif Husain sold 4,260 shares of the business’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 transaction, the vice president owned 47,102 shares in the company, valued at approximately $4,802,519.92. The trade was a 8.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.00% of the company’s stock.

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.