Mitsubishi UFJ Trust & Banking Corp Cuts Holdings in T. Rowe Price Group, Inc. $TROW

Key Points

• Mitsubishi UFJ Trust & Banking cut its stake in T. Rowe Price by 26.6% in Q4, selling 122,056 shares and leaving it with 337,494 shares (about 0.15% of the company) worth roughly $34.6 million.
• Sell‑side sentiment has weakened to a consensus "Reduce" rating with a consensus target of $96.46 after multiple price‑target cuts and downgrades from firms including JPMorgan, Jefferies, Keefe Bruyette & Woods, and Zacks.
• T. Rowe Price recently raised its quarterly dividend to $1.30 (annualized $5.20) for a 5.2% yield

Mitsubishi UFJ Trust & Banking Corp decreased its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 26.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 337,494 shares of the asset manager's stock after selling 122,056 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.15% of T. Rowe Price Group worth $34,555,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Fidelis Capital Partners LLC acquired a new position in shares of T. Rowe Price Group during the 3rd quarter worth about $540,000. Greenspring Advisors LLC acquired a new position in shares of T. Rowe Price Group during the 3rd quarter worth about $1,583,000. First Citizens Bank & Trust Co. boosted its position in shares of T. Rowe Price Group by 141.9% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 175,885 shares of the asset manager's stock worth $18,053,000 after acquiring an additional 103,174 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of T. Rowe Price Group by 17.4% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 79,003 shares of the asset manager's stock worth $8,088,000 after acquiring an additional 11,691 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of T. Rowe Price Group by 43.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 312,768 shares of the asset manager's stock worth $32,021,000 after acquiring an additional 95,351 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Morgan Stanley set a $105.00 price objective on T. Rowe Price Group in a research report on Monday. Keefe, Bruyette & Woods lowered their price objective on T. Rowe Price Group from $110.00 to $95.00 and set a "market perform" rating for the company in a research report on Wednesday, April 8th. JPMorgan Chase & Co. decreased their target price on T. Rowe Price Group from $106.00 to $103.00 and set an "underweight" rating for the company in a research report on Friday, April 24th. Zacks Research cut T. Rowe Price Group from a "hold" rating to a "strong sell" rating in a research report on Tuesday, April 14th. Finally, Jefferies Financial Group decreased their target price on T. Rowe Price Group from $107.00 to $91.00 and set a "hold" rating for the company in a research report on Wednesday, April 8th. Ten equities research analysts have rated the stock with a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus target price of $96.46.

T. Rowe Price Group Stock Down 0.3%

TROW opened at $100.47 on Thursday. The business has a 50 day moving average price of $92.70 and a two-hundred day moving average price of $99.26. The company has a market cap of $21.86 billion, a PE ratio of 10.86, a P/E/G ratio of 4.44 and a beta of 1.50. T. Rowe Price Group, Inc. has a 52 week low of $85.22 and a 52 week high of $118.22.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly earnings data on Wednesday, February 4th. The asset manager reported $2.44 EPS for the quarter, missing the consensus estimate of $2.47 by ($0.03). The company had revenue of $1.93 billion for the quarter, compared to analysts' expectations of $1.92 billion. T. Rowe Price Group had a net margin of 28.53% and a return on equity of 20.29%. The firm's revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.12 earnings per share. As a group, sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.6 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 30th. Shareholders of record on Monday, March 16th were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Monday, March 16th. This represents a $5.20 annualized dividend and a yield of 5.2%. This is a boost from T. Rowe Price Group's previous quarterly dividend of $1.27. T. Rowe Price Group's dividend payout ratio (DPR) is currently 56.22%.

T. Rowe Price Group Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm's product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.

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