Mitsubishi UFJ Trust & Banking Corp Increases Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Mitsubishi UFJ Trust & Banking Corp boosted its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 6.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 354,783 shares of the asset manager’s stock after purchasing an additional 20,555 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.16% of T. Rowe Price Group worth $40,122,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. Modern Wealth Management LLC acquired a new stake in shares of T. Rowe Price Group during the fourth quarter worth approximately $262,000. Congress Wealth Management LLC DE grew its holdings in T. Rowe Price Group by 5.9% during the 4th quarter. Congress Wealth Management LLC DE now owns 93,074 shares of the asset manager’s stock worth $10,526,000 after acquiring an additional 5,192 shares in the last quarter. Vanguard Group Inc. grew its holdings in T. Rowe Price Group by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 26,063,837 shares of the asset manager’s stock worth $2,947,559,000 after acquiring an additional 135,203 shares in the last quarter. Napatree Capital LLC increased its position in shares of T. Rowe Price Group by 10.5% in the 4th quarter. Napatree Capital LLC now owns 7,733 shares of the asset manager’s stock worth $875,000 after purchasing an additional 733 shares during the last quarter. Finally, Stevens Capital Management LP raised its stake in shares of T. Rowe Price Group by 60.1% in the 4th quarter. Stevens Capital Management LP now owns 3,890 shares of the asset manager’s stock valued at $440,000 after purchasing an additional 1,460 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insider Activity at T. Rowe Price Group

In related news, VP Arif Husain sold 4,112 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total transaction of $449,318.24. Following the transaction, the vice president now owns 36,800 shares in the company, valued at $4,021,136. This trade represents a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

TROW has been the subject of several research analyst reports. StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Wells Fargo & Company lowered their price target on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $113.00 price objective (up from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Morgan Stanley lowered their target price on shares of T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a research note on Monday, February 24th. Finally, Barclays reduced their price target on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a research report on Thursday, February 6th. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $114.09.

T. Rowe Price Group Stock Down 1.1 %

T. Rowe Price Group stock opened at $94.44 on Thursday. The firm has a 50-day moving average price of $105.39 and a two-hundred day moving average price of $111.02. T. Rowe Price Group, Inc. has a 52-week low of $91.37 and a 52-week high of $125.81. The firm has a market capitalization of $21.03 billion, a price-to-earnings ratio of 10.31, a PEG ratio of 2.86 and a beta of 1.46.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same period in the prior year, the business earned $1.72 earnings per share. Research analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.38%. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend is Friday, March 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is 55.46%.

About T. Rowe Price Group

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.