Sumitomo Mitsui Trust Group Inc. Boosts Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Sumitomo Mitsui Trust Group Inc. increased its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 1.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 664,063 shares of the asset manager's stock after acquiring an additional 9,924 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.30% of T. Rowe Price Group worth $72,336,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Keystone Financial Services boosted its stake in shares of T. Rowe Price Group by 5.1% during the 3rd quarter. Keystone Financial Services now owns 1,885 shares of the asset manager's stock worth $205,000 after buying an additional 92 shares during the last quarter. WCM Investment Management LLC boosted its stake in T. Rowe Price Group by 341.0% in the 3rd quarter. WCM Investment Management LLC now owns 14,972 shares of the asset manager's stock valued at $1,640,000 after purchasing an additional 11,577 shares during the period. Versor Investments LP grew its stake in shares of T. Rowe Price Group by 80.8% in the third quarter. Versor Investments LP now owns 23,500 shares of the asset manager's stock valued at $2,560,000 after acquiring an additional 10,500 shares in the last quarter. Delta Financial Advisors LLC boosted its stake in shares of T. Rowe Price Group by 25.6% in the third quarter. Delta Financial Advisors LLC now owns 10,132 shares of the asset manager's stock valued at $1,104,000 after buying an additional 2,065 shares during the period. Finally, Sigma Planning Corp grew its stake in T. Rowe Price Group by 9.1% during the third quarter. Sigma Planning Corp now owns 13,676 shares of the asset manager's stock worth $1,490,000 after buying an additional 1,140 shares in the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TROW has been the subject of a number of research analyst reports. TD Cowen lowered their price objective on shares of T. Rowe Price Group from $120.00 to $116.00 and set a "hold" rating for the company in a research report on Monday, November 4th. JPMorgan Chase & Co. cut their price target on shares of T. Rowe Price Group from $116.00 to $115.00 and set an "underweight" rating on the stock in a report on Monday, November 4th. Wells Fargo & Company increased their price target on T. Rowe Price Group from $109.00 to $112.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 9th. The Goldman Sachs Group cut their price objective on T. Rowe Price Group from $106.00 to $102.00 and set a "sell" rating on the stock in a research note on Thursday, October 3rd. Finally, StockNews.com downgraded shares of T. Rowe Price Group from a "buy" rating to a "hold" rating in a research report on Monday, July 29th. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $115.55.

Insider Activity

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company's stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the completion of the sale, the vice president now directly owns 123,624 shares of the company's stock, valued at approximately $12,712,255.92. This represents a 8.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the transaction, the insider now directly owns 13,939 shares in the company, valued at approximately $1,459,831.47. This represents a 3.36 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company's stock.

T. Rowe Price Group Trading Down 0.9 %

T. Rowe Price Group stock traded down $1.03 during midday trading on Friday, reaching $118.77. The stock had a trading volume of 1,318,808 shares, compared to its average volume of 1,266,377. The company has a fifty day moving average price of $110.43 and a two-hundred day moving average price of $112.12. The company has a market capitalization of $26.39 billion, a P/E ratio of 13.17, a PEG ratio of 1.68 and a beta of 1.41. T. Rowe Price Group, Inc. has a 12 month low of $96.46 and a 12 month high of $122.27.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, beating the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the previous year, the company posted $2.17 earnings per share. The company's quarterly revenue was up 6.9% on a year-over-year basis. On average, equities research analysts predict that T. Rowe Price Group, Inc. will post 9.33 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date of this dividend is Friday, December 13th. T. Rowe Price Group's dividend payout ratio is currently 54.27%.

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.