Mirae Asset Global Investments Co. Ltd. Grows Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Mirae Asset Global Investments Co. Ltd. increased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 12.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 213,769 shares of the asset manager's stock after buying an additional 24,323 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.10% of T. Rowe Price Group worth $19,575,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC increased its position in shares of T. Rowe Price Group by 27.9% during the first quarter. Exchange Traded Concepts LLC now owns 971 shares of the asset manager's stock worth $89,000 after acquiring an additional 212 shares during the last quarter. Amundi increased its holdings in T. Rowe Price Group by 30.1% during the 4th quarter. Amundi now owns 1,717,877 shares of the asset manager's stock worth $194,064,000 after purchasing an additional 397,278 shares during the last quarter. Schroder Investment Management Group increased its holdings in T. Rowe Price Group by 49.4% during the 4th quarter. Schroder Investment Management Group now owns 221,579 shares of the asset manager's stock worth $25,229,000 after purchasing an additional 73,307 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in T. Rowe Price Group by 5.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 357,556 shares of the asset manager's stock worth $40,436,000 after purchasing an additional 20,062 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of T. Rowe Price Group by 9,555.5% in the first quarter. GAMMA Investing LLC now owns 333,212 shares of the asset manager's stock worth $30,612,000 after buying an additional 329,761 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company's stock.

Insider Transactions at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,955 shares of the stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $91.56, for a total value of $362,119.80. Following the completion of the transaction, the director now directly owns 42,979 shares of the company's stock, valued at $3,935,157.24. This represents a 8.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total value of $190,860.00. Following the completion of the transaction, the vice president now directly owns 44,789 shares of the company's stock, valued at approximately $4,274,214.27. The trade was a 4.27% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,923 shares of company stock worth $646,856. Insiders own 2.00% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Evercore ISI dropped their price target on shares of T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating for the company in a research note on Friday, April 11th. Morgan Stanley boosted their target price on shares of T. Rowe Price Group from $94.00 to $95.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. The Goldman Sachs Group lowered their price objective on T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating for the company in a report on Monday, April 14th. TD Cowen lowered their price objective on T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating for the company in a report on Wednesday, April 9th. Finally, Cowen reissued a "hold" rating on shares of T. Rowe Price Group in a report on Monday, May 5th. Four equities research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $94.09.

T. Rowe Price Group Trading Down 0.1%

NASDAQ:TROW opened at $96.10 on Friday. The firm has a market capitalization of $21.17 billion, a PE ratio of 10.90, a price-to-earnings-growth ratio of 3.12 and a beta of 1.49. The stock has a 50 day moving average of $93.03 and a 200-day moving average of $100.38. 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 data on Friday, May 2nd. The asset manager reported $2.23 EPS for the quarter, topping analysts' consensus estimates of $2.13 by $0.10. The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.80 billion. T. Rowe Price Group had a return on equity of 20.17% and a net margin of 28.38%. The firm's revenue was up .8% on a year-over-year basis. During the same period in the prior year, the business earned $2.38 EPS. As a group, analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

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

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.

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