Resona Asset Management Co. Ltd. Makes New Investment in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Resona Asset Management Co. Ltd. acquired a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 84,255 shares of the asset manager's stock, valued at approximately $9,590,000.

Several other hedge funds have also modified their holdings of TROW. HighTower Advisors LLC lifted its position in shares of T. Rowe Price Group by 55.4% during the 3rd quarter. HighTower Advisors LLC now owns 132,338 shares of the asset manager's stock worth $14,418,000 after buying an additional 47,180 shares during the last quarter. Janus Henderson Group PLC lifted its position in T. Rowe Price Group by 3.8% in the third quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager's stock valued at $3,267,000 after acquiring an additional 1,100 shares during the last quarter. Royal London Asset Management Ltd. boosted its stake in T. Rowe Price Group by 6.2% in the third quarter. Royal London Asset Management Ltd. now owns 89,563 shares of the asset manager's stock valued at $9,756,000 after acquiring an additional 5,253 shares in the last quarter. Kovitz Investment Group Partners LLC purchased a new position in shares of T. Rowe Price Group during the third quarter worth about $439,000. Finally, EP Wealth Advisors LLC increased its position in shares of T. Rowe Price Group by 146.6% during the third quarter. EP Wealth Advisors LLC now owns 8,969 shares of the asset manager's stock worth $977,000 after purchasing an additional 5,332 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,955 shares of the business's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $91.56, for a total transaction of $362,119.80. Following the completion of the sale, the director now owns 42,979 shares of the company's stock, valued at approximately $3,935,157.24. The trade was a 8.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Arif Husain sold 4,112 shares of the company's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total value of $449,318.24. Following the sale, the vice president now owns 36,800 shares of the company's stock, valued at $4,021,136. This represents a 10.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on TROW shares. Wells Fargo & Company decreased their price objective on T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating for the company in a report on Tuesday. Citigroup reduced 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, March 31st. Evercore ISI decreased their price objective on shares of T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating on the stock in a report on Friday. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $113.00 target price (up from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Finally, StockNews.com downgraded shares of T. Rowe Price Group from a "buy" rating to a "hold" rating in a research report on Sunday, February 2nd. Five equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat, T. Rowe Price Group presently has an average rating of "Hold" and a consensus price target of $102.00.

T. Rowe Price Group Trading Up 1.8 %

Shares of NASDAQ:TROW traded up $1.57 on Friday, hitting $87.52. The company had a trading volume of 938,854 shares, compared to its average volume of 1,430,202. The company has a market cap of $19.45 billion, a PE ratio of 9.54, a PEG ratio of 2.86 and a beta of 1.50. The business has a 50 day moving average of $98.52 and a 200 day moving average of $109.29. T. Rowe Price Group, Inc. has a 52-week low of $77.85 and a 52-week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 EPS for the quarter, missing analysts' consensus estimates 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 previous year, the company earned $1.72 EPS. As a group, equities analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a $1.27 dividend. This is a positive change from T. Rowe Price Group's previous quarterly dividend of $1.24. This represents a $5.08 annualized dividend and a yield of 5.80%. The ex-dividend date of this dividend was Friday, March 14th. T. Rowe Price Group's dividend payout ratio is presently 55.46%.

T. Rowe Price Group Company Profile

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.