T. Rowe Price Group, Inc. $TROW Shares Bought by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in T. Rowe Price Group by 14.6%, acquiring an additional 8,324 shares, bringing its total holdings to 65,205 shares valued at approximately $5.99 million.
• Analysts have mixed views on T. Rowe Price Group, with target prices ranging from $95 to $116, and a consensus rating of "Reduce".
• The company is set to pay a quarterly dividend of $1.27 on September 29, representing an annualized dividend yield of 4.8%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 14.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 65,205 shares of the asset manager's stock after buying an additional 8,324 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in T. Rowe Price Group were worth $5,988,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Cooper Financial Group increased its holdings in shares of T. Rowe Price Group by 5.2% in the first quarter. Cooper Financial Group now owns 2,234 shares of the asset manager's stock worth $205,000 after purchasing an additional 110 shares during the last quarter. Hexagon Capital Partners LLC boosted its position in shares of T. Rowe Price Group by 44.8% during the first quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager's stock valued at $34,000 after buying an additional 113 shares during the period. Associated Banc Corp raised its stake in shares of T. Rowe Price Group by 0.5% during the first quarter. Associated Banc Corp now owns 24,864 shares of the asset manager's stock valued at $2,284,000 after acquiring an additional 114 shares in the last quarter. Wealthcare Capital Partners LLC raised its stake in shares of T. Rowe Price Group by 1.2% during the first quarter. Wealthcare Capital Partners LLC now owns 9,429 shares of the asset manager's stock valued at $866,000 after acquiring an additional 115 shares in the last quarter. Finally, Cullen Investment Group LTD. raised its stake in shares of T. Rowe Price Group by 0.9% during the first quarter. Cullen Investment Group LTD. now owns 13,554 shares of the asset manager's stock valued at $1,245,000 after acquiring an additional 117 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company's stock.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW traded down $0.06 during midday trading on Friday, reaching $105.63. 1,122,936 shares of the stock were exchanged, compared to its average volume of 1,429,752. The company has a 50 day simple moving average of $105.69 and a 200 day simple moving average of $97.53. The stock has a market capitalization of $23.21 billion, a P/E ratio of 11.80, a PEG ratio of 2.76 and a beta of 1.51. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.09. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The firm had revenue of $1.72 billion during the quarter, compared to analysts' expectations of $1.72 billion. During the same quarter last year, the company posted $2.26 EPS. The firm's quarterly revenue was down .6% on a year-over-year basis. On average, research analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be issued a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date is Monday, September 15th. T. Rowe Price Group's dividend payout ratio (DPR) is presently 56.76%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TROW. Wells Fargo & Company boosted their price objective on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the stock an "equal weight" rating in a research note on Friday, July 11th. Keefe, Bruyette & Woods boosted their price objective on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the company a "market perform" rating in a report on Monday, August 4th. Barclays reaffirmed an "underweight" rating and issued a $95.00 price target (up from $91.00) on shares of T. Rowe Price Group in a report on Monday, August 4th. Evercore ISI reaffirmed a "positive" rating on shares of T. Rowe Price Group in a report on Friday, September 5th. Finally, Morgan Stanley upped their price objective on shares of T. Rowe Price Group from $112.00 to $116.00 and gave the stock an "equal weight" rating in a research report on Monday, August 4th. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus price target of $101.55.

T. Rowe Price Group 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.