Nomura Asset Management Co. Ltd. Purchases 57,405 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Nomura Asset Management Co. Ltd. grew its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 15.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 435,324 shares of the asset manager’s stock after purchasing an additional 57,405 shares during the quarter. Nomura Asset Management Co. Ltd. owned approximately 0.20% of T. Rowe Price Group worth $49,231,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Addison Advisors LLC grew its position in shares of T. Rowe Price Group by 67.4% during the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock worth $26,000 after buying an additional 93 shares during the period. Curio Wealth LLC acquired a new position in shares of T. Rowe Price Group in the 4th quarter valued at $27,000. Y.D. More Investments Ltd increased its position in shares of T. Rowe Price Group by 124.0% in the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock valued at $32,000 after buying an additional 155 shares in the last quarter. Stonebridge Financial Group LLC bought a new position in T. Rowe Price Group during the fourth quarter worth about $32,000. Finally, Advantage Trust Co lifted its holdings in shares of T. Rowe Price Group by 48.8% during the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 100 shares in the last quarter. 73.39% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Keefe, Bruyette & Woods restated a “market perform” rating and set a $113.00 target price (up from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. Barclays lowered their target price on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Wells Fargo & Company cut their price target on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Finally, Morgan Stanley decreased their price objective on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a report on Monday, February 24th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat.com, T. Rowe Price Group presently has an average rating of “Hold” and a consensus target price of $114.09.

T. Rowe Price Group Stock Down 3.3 %

Shares of NASDAQ:TROW opened at $91.57 on Friday. The business has a 50 day moving average of $104.61 and a 200-day moving average of $110.82. T. Rowe Price Group, Inc. has a 12-month low of $91.10 and a 12-month high of $125.81. The stock has a market cap of $20.39 billion, a PE ratio of 10.00, a P/E/G 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 for the quarter, missing the consensus estimate 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 quarter last year, the firm posted $1.72 earnings per share. Equities 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 business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a $1.27 dividend. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 annualized dividend and a dividend yield of 5.55%. The ex-dividend date was Friday, March 14th. T. Rowe Price Group’s payout ratio is 55.46%.

Insider Buying and Selling

In related news, VP Arif Husain sold 4,112 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total value of $449,318.24. Following the transaction, the vice president now owns 36,800 shares in the company, valued at approximately $4,021,136. This trade represents a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is currently owned by company insiders.

T. Rowe Price Group Company 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.