T. Rowe Price Group, Inc. $TROW Shares Newly Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the third quarter, HoldingsChannel.com reports. The fund purchased 278,348 shares of the asset manager’s stock, valued at approximately $28,962,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Twin Tree Management LP acquired a new position in shares of T. Rowe Price Group in the 2nd quarter valued at $2,989,000. Envestnet Portfolio Solutions Inc. boosted its position in shares of T. Rowe Price Group by 6.1% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 174,047 shares of the asset manager’s stock worth $19,787,000 after purchasing an additional 10,077 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of T. Rowe Price Group during the second quarter worth $2,728,119,000. Sequoia Financial Advisors LLC grew its stake in shares of T. Rowe Price Group by 90.9% during the second quarter. Sequoia Financial Advisors LLC now owns 17,284 shares of the asset manager’s stock worth $1,965,000 after purchasing an additional 8,230 shares during the period. Finally, Sanctuary Advisors LLC acquired a new stake in shares of T. Rowe Price Group during the second quarter worth $1,668,000. 73.39% of the stock is owned by institutional investors.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Joshua Nelson sold 10,000 shares of T. Rowe Price Group stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $111.82, for a total transaction of $1,118,200.00. Following the transaction, the vice president directly owned 71,328 shares in the company, valued at approximately $7,975,896.96. The trade was a 12.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Weiss Ratings upgraded T. Rowe Price Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, September 4th. JPMorgan Chase & Co. raised their target price on T. Rowe Price Group from $106.00 to $107.00 and gave the stock an “underweight” rating in a report on Friday. Evercore set a $109.00 target price on T. Rowe Price Group in a report on Friday, October 9th. Zacks Research lowered T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. Finally, UBS Group initiated coverage on T. Rowe Price Group in a research note on Wednesday, October 7th. They issued a “neutral” rating and a $107.00 price target for the company. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $102.83.

T. Rowe Price Group Stock Performance

TROW opened at $105.85 on Tuesday. The firm’s fifty day moving average is $105.54 and its two-hundred day moving average is $103.71. The firm has a market cap of $22.58 billion, a PE ratio of 10.70, a price-to-earnings-growth ratio of 3.04 and a beta of 1.45. T. Rowe Price Group, Inc. has a twelve month low of $85.22 and a twelve month high of $122.00.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Thursday, October 29th. The asset manager reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.63 by $0.23. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.91%. The company had revenue of $2 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the previous year, the business earned $2.81 EPS. The firm’s revenue was up 5.9% on a year-over-year basis. Equities analysts forecast that T. Rowe Price Group, Inc. will post 10.16 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend was Tuesday, September 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 52.58%.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland. Founded in 1937 by Thomas Rowe Price Jr., the company provides investment strategies and advisory services to individual investors, retirement plans, financial intermediaries, institutions and other clients.

The company offers a range of actively managed and multi-asset investment products, including mutual funds, exchange-traded funds, separately managed accounts and other portfolio solutions.