T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Acquired by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. increased its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 656,709 shares of the asset manager’s stock after buying an additional 35,863 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.29% of T. Rowe Price Group worth $70,721,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. OFI Invest Asset Management acquired a new stake in T. Rowe Price Group during the 3rd quarter valued at approximately $25,000. Creative Financial Designs Inc. ADV grew its stake in T. Rowe Price Group by 83.5% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 106 shares in the last quarter. PCA Investment Advisory Services Inc. acquired a new stake in T. Rowe Price Group during the 2nd quarter valued at approximately $26,000. Park Place Capital Corp grew its stake in T. Rowe Price Group by 1,775.0% during the 4th quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 284 shares in the last quarter. Finally, Fortitude Family Office LLC acquired a new stake in T. Rowe Price Group during the 4th quarter valued at approximately $33,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of TROW stock opened at $111.39 on Thursday. The business’s fifty day moving average is $114.67 and its 200-day moving average is $106.69. T. Rowe Price Group, Inc. has a 1 year low of $87.43 and a 1 year high of $132.76. The stock has a market cap of $24.91 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 2.16 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Thursday, February 8th. The asset manager reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.12. T. Rowe Price Group had a return on equity of 18.41% and a net margin of 27.69%. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the prior year, the company earned $1.74 EPS. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. Equities research analysts predict that T. Rowe Price Group, Inc. will post 8.13 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a $1.24 dividend. The ex-dividend date was Thursday, March 14th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.45%. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.22. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 63.92%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Keefe, Bruyette & Woods upgraded T. Rowe Price Group from an “underperform” rating to a “market perform” rating and raised their price objective for the company from $106.00 to $120.00 in a research note on Thursday, April 11th. JPMorgan Chase & Co. increased their target price on T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a report on Tuesday. Morgan Stanley increased their target price on T. Rowe Price Group from $101.00 to $106.00 and gave the stock an “equal weight” rating in a report on Friday, January 19th. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Finally, Wells Fargo & Company increased their target price on T. Rowe Price Group from $105.00 to $108.00 and gave the stock an “underweight” rating in a report on Friday, February 9th. Four equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat.com, T. Rowe Price Group presently has an average rating of “Hold” and an average price target of $110.56.

Insiders Place Their Bets

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,138 shares of the firm’s stock in a transaction that occurred 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 owns 14,113 shares in the company, valued at approximately $1,511,925.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,138 shares of the firm’s stock in a transaction that occurred 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 owns 14,113 shares in the company, valued at approximately $1,511,925.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction that occurred 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 approximately $2,493,357.36. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

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.