Mitsubishi UFJ Asset Management Co. Ltd. Boosts Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 9.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 410,831 shares of the asset manager's stock after acquiring an additional 36,086 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.18% of T. Rowe Price Group worth $47,118,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Addison Advisors LLC grew its holdings in shares of T. Rowe Price Group by 67.4% during the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager's stock valued at $26,000 after purchasing an additional 93 shares during the last quarter. Curio Wealth LLC purchased a new stake in T. Rowe Price Group during the 4th quarter valued at about $27,000. Y.D. More Investments Ltd increased its stake in T. Rowe Price Group by 124.0% in the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager's stock worth $32,000 after purchasing an additional 155 shares during the period. Stonebridge Financial Group LLC purchased a new position in T. Rowe Price Group in the 4th quarter worth approximately $32,000. Finally, Advantage Trust Co lifted its position in T. Rowe Price Group by 48.8% in the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager's stock valued at $34,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 73.39% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on TROW shares. Bank of America lowered their price target on shares of T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating for the company in a report on Thursday. Morgan Stanley cut their target price on T. Rowe Price Group from $126.00 to $121.00 and set an "equal weight" rating on the stock in a research note on Monday, February 24th. Wells Fargo & Company lowered their price target on T. Rowe Price Group from $118.00 to $116.00 and set an "equal weight" rating for the company in a research report on Thursday, February 6th. Barclays cut their price objective on T. Rowe Price Group from $113.00 to $105.00 and set an "underweight" rating on the stock in a research report on Thursday, February 6th. Finally, Citigroup decreased their target price on T. Rowe Price Group from $120.00 to $100.00 and set a "neutral" rating for the company in a report on Monday. Five analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $109.58.

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T. Rowe Price Group Stock Down 8.5 %

Shares of TROW stock traded down $8.00 during trading hours on Thursday, hitting $85.90. 1,007,150 shares of the company's stock traded hands, compared to its average volume of 1,367,531. T. Rowe Price Group, Inc. has a 12-month low of $85.76 and a 12-month high of $125.81. The stock has a market cap of $19.09 billion, a price-to-earnings ratio of 9.38, a PEG ratio of 2.86 and a beta of 1.46. The stock's fifty day simple moving average is $103.36 and its two-hundred day simple moving average is $110.62.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same quarter in the prior year, the company posted $1.72 earnings per share. On average, equities analysts forecast 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 business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 5.91%. This is a positive change from T. Rowe Price Group's previous quarterly dividend of $1.24. The ex-dividend date was Friday, March 14th. T. Rowe Price Group's dividend payout ratio is 55.46%.

Insider Buying and Selling

In related news, VP Arif Husain sold 4,112 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total transaction of $449,318.24. Following the sale, the vice president now owns 36,800 shares of the company's stock, valued at approximately $4,021,136. This trade represents a 10.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert F. Maclellan sold 3,955 shares of the firm's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $91.56, for a total transaction of $362,119.80. Following the transaction, the director now directly owns 42,979 shares of the company's stock, valued at $3,935,157.24. The trade was a 8.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.