Mizuho Markets Americas LLC Boosts Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Mizuho Markets Americas LLC raised its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 77.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 47,739 shares of the asset manager's stock after acquiring an additional 20,909 shares during the period. Mizuho Markets Americas LLC's holdings in T. Rowe Price Group were worth $5,141,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in TROW. Panagora Asset Management Inc. increased its holdings in shares of T. Rowe Price Group by 44.3% in the 3rd quarter. Panagora Asset Management Inc. now owns 7,386 shares of the asset manager's stock worth $775,000 after buying an additional 2,268 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in shares of T. Rowe Price Group by 2.5% during the 3rd quarter. Teacher Retirement System of Texas now owns 17,401 shares of the asset manager's stock worth $1,825,000 after purchasing an additional 428 shares during the period. Wealthfront Advisers LLC grew its holdings in T. Rowe Price Group by 12.0% during the 3rd quarter. Wealthfront Advisers LLC now owns 43,592 shares of the asset manager's stock valued at $4,571,000 after purchasing an additional 4,681 shares during the last quarter. New Mexico Educational Retirement Board raised its position in T. Rowe Price Group by 7.3% in the 3rd quarter. New Mexico Educational Retirement Board now owns 11,687 shares of the asset manager's stock worth $1,226,000 after purchasing an additional 800 shares during the period. Finally, Congress Asset Management Co. MA lifted its stake in T. Rowe Price Group by 2.7% in the third quarter. Congress Asset Management Co. MA now owns 139,039 shares of the asset manager's stock worth $14,581,000 after purchasing an additional 3,685 shares during the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TROW has been the topic of several recent analyst reports. Morgan Stanley increased their price target on T. Rowe Price Group from $114.00 to $125.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 17th. Citigroup increased their target price on T. Rowe Price Group from $110.00 to $125.00 and gave the stock a "neutral" rating in a research note on Friday, April 5th. Evercore ISI lowered their target price on shares of T. Rowe Price Group from $110.00 to $107.00 and set an "in-line" rating for the company in a research note on Tuesday, April 30th. UBS Group lifted their price objective on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the company a "sell" rating in a report on Friday, April 12th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the company an "underweight" rating in a research report on Tuesday, April 16th. Four analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $112.10.

T. Rowe Price Group Trading Up 0.6 %

Shares of NASDAQ:TROW traded up $0.71 during trading on Friday, reaching $116.76. The stock had a trading volume of 1,093,124 shares, compared to its average volume of 1,530,038. The firm's 50-day simple moving average is $114.95 and its 200 day simple moving average is $108.89. T. Rowe Price Group, Inc. has a one year low of $87.43 and a one year high of $132.76. The company has a market capitalization of $26.07 billion, a P/E ratio of 13.87, a PEG ratio of 2.02 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.34. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.71 billion. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The business's revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.69 earnings per share. Equities research analysts forecast that T. Rowe Price Group, Inc. will post 8.8 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Friday, June 14th will be given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 4.25%. The ex-dividend date of this dividend is Friday, June 14th. T. Rowe Price Group's dividend payout ratio is currently 58.91%.

Insider Buying and Selling at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,043 shares of T. Rowe Price Group stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $113.08, for a total value of $344,102.44. Following the completion of the sale, the director now directly owns 34,635 shares in the company, valued at approximately $3,916,525.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Robert F. Maclellan sold 3,043 shares of the firm's stock in a transaction on Monday, April 29th. The stock was sold at an average price of $113.08, for a total value of $344,102.44. Following the completion of the transaction, the director now owns 34,635 shares in the company, valued at approximately $3,916,525.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the business's stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $118.32, for a total value of $1,034,116.80. Following the sale, the director now owns 21,073 shares in the company, valued at approximately $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.