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

Mirae Asset Global Investments Co. Ltd. raised its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 12.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 105,098 shares of the asset manager's stock after purchasing an additional 11,615 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in T. Rowe Price Group were worth $11,318,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in TROW. OFI Invest Asset Management purchased a new stake in shares of T. Rowe Price Group in the 3rd quarter worth about $25,000. Creative Financial Designs Inc. ADV grew its position in shares of T. Rowe Price Group by 83.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager's stock worth $25,000 after buying an additional 106 shares during the period. PCA Investment Advisory Services Inc. purchased a new stake in shares of T. Rowe Price Group in the 2nd quarter worth about $26,000. Park Place Capital Corp grew its position in shares of T. Rowe Price Group by 1,775.0% in the 4th quarter. Park Place Capital Corp now owns 300 shares of the asset manager's stock worth $32,000 after buying an additional 284 shares during the period. Finally, Fortitude Family Office LLC purchased a new stake in shares of T. Rowe Price Group in the 4th quarter worth about $33,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TROW has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on shares of T. Rowe Price Group from $90.00 to $94.00 and gave the company an "underweight" rating in a research report on Friday, February 9th. Wells Fargo & Company lifted their target price on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the stock an "underweight" rating in a report on Friday, February 9th. Keefe, Bruyette & Woods raised T. Rowe Price Group from an "underperform" rating to a "market perform" rating and upped their price objective for the company from $106.00 to $120.00 in a research report on Thursday. UBS Group upped their price objective on T. Rowe Price Group from $100.00 to $109.00 and gave the company a "sell" rating in a research report on Friday. Finally, TD Cowen raised T. Rowe Price Group from a "sell" rating to a "hold" rating and upped their price objective for the company from $92.00 to $114.00 in a research report on Monday. Four investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat, T. Rowe Price Group has a consensus rating of "Hold" and a consensus target price of $108.40.

T. Rowe Price Group Stock Down 2.1 %

TROW traded down $2.53 during mid-day trading on Friday, reaching $115.19. 1,387,532 shares of the company traded hands, compared to its average volume of 1,388,660. The stock has a market capitalization of $25.76 billion, a P/E ratio of 14.84, a P/E/G ratio of 2.37 and a beta of 1.40. The company's fifty day moving average price is $114.46 and its 200-day moving average price is $106.50. T. Rowe Price Group, Inc. has a 52-week low of $87.43 and a 52-week high of $132.76.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its earnings results on Thursday, February 8th. The asset manager reported $1.72 earnings per share for the quarter, beating analysts' consensus estimates of $1.60 by $0.12. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.41%. The company's quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.74 EPS. As a group, sell-side analysts forecast that T. Rowe Price Group, Inc. will post 8.06 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 4.31%. This is a positive change from T. Rowe Price Group's previous quarterly dividend of $1.22. The ex-dividend date was Thursday, March 14th. T. Rowe Price Group's dividend payout ratio is 63.92%.

Insider Transactions at T. Rowe Price Group

In other news, Director Freeman A. Hrabowski III sold 8,740 shares of the company's stock in a transaction on Friday, March 8th. The stock was sold at an average price of $118.32, for a total value of $1,034,116.80. Following the completion of the sale, the director now directly owns 21,073 shares in the company, valued at approximately $2,493,357.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Jessica M. Hiebler sold 1,138 shares of the company's stock in a transaction on Friday, February 9th. The stock was sold at an average price of $107.13, for a total value of $121,913.94. Following the completion of the sale, the insider now directly owns 14,113 shares in the company, valued at approximately $1,511,925.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the company's stock in a transaction on Friday, March 8th. The stock was sold at an average price of $118.32, for a total value of $1,034,116.80. Following the completion of the sale, the director now owns 21,073 shares of the company's stock, valued at $2,493,357.36. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

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.