SBI Okasan Asset Management Co.Ltd. Invests $648,000 in T. Rowe Price Group, Inc. $TROW

SBI Okasan Asset Management Co.Ltd. bought a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 6,200 shares of the asset manager’s stock, valued at approximately $648,000.

Several other hedge funds have also modified their holdings of TROW. PFA Pension Forsikringsaktieselskab purchased a new stake in shares of T. Rowe Price Group during the 4th quarter worth about $61,073,000. Caisse de depot et placement du Quebec boosted its stake in shares of T. Rowe Price Group by 81.0% during the 3rd quarter. Caisse de depot et placement du Quebec now owns 1,306,922 shares of the asset manager’s stock worth $134,142,000 after acquiring an additional 584,949 shares in the last quarter. Anchyra Partners LLC purchased a new stake in shares of T. Rowe Price Group during the 4th quarter worth about $48,012,000. Marshall Wace LLP purchased a new stake in shares of T. Rowe Price Group during the 3rd quarter worth about $34,034,000. Finally, Nordea Investment Management AB lifted its stake in T. Rowe Price Group by 1,307.4% in the 4th quarter. Nordea Investment Management AB now owns 325,029 shares of the asset manager’s stock valued at $33,377,000 after buying an additional 301,934 shares in the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Price Performance

TROW opened at $104.53 on Friday. The company’s 50 day simple moving average is $97.35 and its two-hundred day simple moving average is $99.25. T. Rowe Price Group, Inc. has a 1-year low of $85.22 and a 1-year high of $118.22. The firm has a market capitalization of $22.40 billion, a price-to-earnings ratio of 11.20, a price-to-earnings-growth ratio of 5.30 and a beta of 1.51.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.15. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same period last year, the company posted $2.23 EPS. The business’s revenue was up 5.3% on a year-over-year basis. On average, equities analysts anticipate that T. Rowe Price Group, Inc. will post 9.63 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 Monday, June 29th. Shareholders of record on Monday, June 15th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend is Monday, June 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is 55.73%.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total value of $307,680.00. Following the transaction, the vice president directly owned 83,883 shares of the company’s stock, valued at $8,603,040.48. This trade represents a 3.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.60% of the stock is owned by company insiders.

Analyst Ratings Changes

TROW has been the topic of a number of research reports. Evercore decreased their price target on shares of T. Rowe Price Group from $106.00 to $104.00 in a research note on Monday, May 11th. BMO Capital Markets raised their price target on shares of T. Rowe Price Group from $98.00 to $110.00 and gave the company a “market perform” rating in a research note on Monday, May 4th. Keefe, Bruyette & Woods raised their price target on shares of T. Rowe Price Group from $95.00 to $107.00 and gave the company a “market perform” rating in a research note on Friday, May 1st. The Goldman Sachs Group raised their price target on shares of T. Rowe Price Group from $85.00 to $90.00 in a research note on Friday, May 1st. Finally, Morgan Stanley set a $105.00 price target on shares of T. Rowe Price Group in a research note on Monday, April 27th. Eleven analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, T. Rowe Price Group has an average rating of “Reduce” and a consensus price target of $99.54.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.