Mitsubishi UFJ Asset Management Co. Ltd. Acquires 28,625 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in T. Rowe Price Group, Inc. by 7.0%, purchasing an additional 28,625 shares, bringing its total to approximately 439,456 shares valued at $40.37 million.
• Other institutional investors also adjusted their holdings, with Y.D. More Investments Ltd. significantly increasing its position by 399.3% during the same quarter.
• T. Rowe Price reported earnings of $2.24 per share for the last quarter, exceeding analysts' expectations, although its revenue decreased 0.6% year-over-year to $1.72 billion.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 7.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 439,456 shares of the asset manager's stock after purchasing an additional 28,625 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.20% of T. Rowe Price Group worth $40,373,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Y.D. More Investments Ltd grew its position in T. Rowe Price Group by 399.3% in the first quarter. Y.D. More Investments Ltd now owns 1,398 shares of the asset manager's stock valued at $128,000 after purchasing an additional 1,118 shares in the last quarter. PARK CIRCLE Co lifted its stake in T. Rowe Price Group by 20.2% in the first quarter. PARK CIRCLE Co now owns 64,345 shares of the asset manager's stock valued at $5,911,000 after acquiring an additional 10,800 shares during the last quarter. Ontario Teachers Pension Plan Board lifted its stake in T. Rowe Price Group by 31.8% in the first quarter. Ontario Teachers Pension Plan Board now owns 13,180 shares of the asset manager's stock valued at $1,211,000 after acquiring an additional 3,183 shares during the last quarter. 1834 Investment Advisors Co. lifted its stake in T. Rowe Price Group by 5.9% in the first quarter. 1834 Investment Advisors Co. now owns 27,702 shares of the asset manager's stock valued at $2,545,000 after acquiring an additional 1,554 shares during the last quarter. Finally, Deutsche Bank AG lifted its stake in T. Rowe Price Group by 1.4% in the first quarter. Deutsche Bank AG now owns 1,020,478 shares of the asset manager's stock valued at $93,751,000 after acquiring an additional 13,780 shares during the last quarter. Institutional investors own 73.39% of the company's stock.

T. Rowe Price Group Stock Performance

NASDAQ TROW opened at $105.06 on Friday. T. Rowe Price Group, Inc. has a 52-week low of $77.85 and a 52-week high of $125.81. The firm has a 50-day moving average of $99.50 and a 200-day moving average of $98.04. The stock has a market cap of $23.08 billion, a PE ratio of 11.74, a P/E/G ratio of 2.86 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $1.72 billion during the quarter, compared to analysts' expectations of $1.72 billion. During the same quarter in the previous year, the company earned $2.26 EPS. The business's revenue was down .6% on a year-over-year basis. As a group, analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

Insider Activity

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 968 shares of T. Rowe Price Group stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $96.98, for a total value of $93,876.64. Following the completion of the sale, the insider owned 13,611 shares in the company, valued at $1,319,994.78. The trade was a 6.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total transaction of $190,860.00. Following the completion of the sale, the vice president owned 44,789 shares of the company's stock, valued at $4,274,214.27. This trade represents a 4.27% decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Analyst Ratings Changes

TROW has been the subject of a number of recent analyst reports. Evercore ISI increased their price target on shares of T. Rowe Price Group from $106.00 to $110.00 and gave the company an "in-line" rating in a research note on Monday, August 4th. Morgan Stanley increased their price target on shares of T. Rowe Price Group from $112.00 to $116.00 and gave the company an "equal weight" rating in a research note on Monday, August 4th. Keefe, Bruyette & Woods increased their price target on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the company a "market perform" rating in a research note on Monday, August 4th. JPMorgan Chase & Co. increased their price target on shares of T. Rowe Price Group from $98.00 to $102.00 and gave the company an "underweight" rating in a research note on Monday, August 4th. Finally, Wells Fargo & Company increased their price target on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the company an "equal weight" rating in a research note on Friday, July 11th. Four research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $101.09.

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.

Want to see what other hedge funds are holding TROW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.