Asset Management One Co. Ltd. Increases Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Asset Management One Co. Ltd. grew its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 8.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,508 shares of the asset manager's stock after purchasing an additional 7,455 shares during the quarter. Asset Management One Co. Ltd.'s holdings in T. Rowe Price Group were worth $8,774,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TROW. Glenview Trust co increased its position in shares of T. Rowe Price Group by 2.2% in the fourth quarter. Glenview Trust co now owns 4,318 shares of the asset manager's stock valued at $488,000 after buying an additional 92 shares in the last quarter. Strategy Asset Managers LLC increased its position in shares of T. Rowe Price Group by 5.0% in the fourth quarter. Strategy Asset Managers LLC now owns 2,277 shares of the asset manager's stock valued at $258,000 after buying an additional 108 shares in the last quarter. Wealthcare Capital Partners LLC increased its holdings in T. Rowe Price Group by 1.2% in the 1st quarter. Wealthcare Capital Partners LLC now owns 9,429 shares of the asset manager's stock worth $866,000 after acquiring an additional 115 shares in the last quarter. Cullen Investment Group LTD. increased its holdings in T. Rowe Price Group by 0.9% in the 1st quarter. Cullen Investment Group LTD. now owns 13,554 shares of the asset manager's stock worth $1,245,000 after acquiring an additional 117 shares in the last quarter. Finally, IFP Advisors Inc increased its holdings in T. Rowe Price Group by 3.2% in the 4th quarter. IFP Advisors Inc now owns 3,792 shares of the asset manager's stock worth $429,000 after acquiring an additional 119 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company's stock.

Insider Buying and Selling

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,955 shares of the stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $91.56, for a total transaction of $362,119.80. Following the completion of the transaction, the director now owns 42,979 shares of the company's stock, valued at $3,935,157.24. This trade represents a 8.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jessica M. Hiebler sold 968 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $96.98, for a total transaction of $93,876.64. Following the transaction, the insider now directly owns 13,611 shares of the company's stock, valued at $1,319,994.78. The trade was a 6.64% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,923 shares of company stock worth $646,856. Company insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on TROW shares. Wells Fargo & Company cut their target price on shares of T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Morgan Stanley boosted their price objective on T. Rowe Price Group from $94.00 to $95.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. JPMorgan Chase & Co. cut their price objective on T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating for the company in a research note on Wednesday, April 16th. Bank of America cut their price objective on T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating for the company in a research note on Thursday, April 3rd. Finally, Barclays increased their price objective on T. Rowe Price Group from $85.00 to $90.00 and gave the company an "underweight" rating in a research note on Monday, May 5th. Four investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $94.09.

T. Rowe Price Group Trading Down 0.1%

Shares of TROW opened at $96.10 on Friday. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $125.81. The firm has a 50-day moving average price of $93.03 and a 200 day moving average price of $100.53. The firm has a market capitalization of $21.17 billion, a P/E ratio of 10.90, a P/E/G ratio of 3.12 and a beta of 1.49.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.10. T. Rowe Price Group had a net margin of 28.38% and a return on equity of 20.17%. The business had revenue of $1.76 billion during the quarter, compared to analysts' expectations of $1.80 billion. During the same quarter in the prior year, the company posted $2.38 EPS. The business's revenue for the quarter was up .8% on a year-over-year basis. Equities research analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were given a $1.27 dividend. The ex-dividend date was Friday, June 13th. This represents a $5.08 annualized dividend and a yield of 5.29%. T. Rowe Price Group's payout ratio is 57.60%.

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.

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