T. Rowe Price Group Inc (NASDAQ:TROW) Shares Acquired by Dai Ichi Life Insurance Company Ltd

Dai Ichi Life Insurance Company Ltd boosted its stake in shares of T. Rowe Price Group Inc (NASDAQ:TROW) by 275.9% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 10,900 shares of the asset manager’s stock after purchasing an additional 8,000 shares during the quarter. Dai Ichi Life Insurance Company Ltd’s holdings in T. Rowe Price Group were worth $1,064,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of TROW. Citizens Financial Group Inc RI grew its position in T. Rowe Price Group by 70.4% during the fourth quarter. Citizens Financial Group Inc RI now owns 230 shares of the asset manager’s stock worth $28,000 after buying an additional 95 shares during the period. Shine Investment Advisory Services Inc. grew its position in T. Rowe Price Group by 248.4% during the first quarter. Shine Investment Advisory Services Inc. now owns 324 shares of the asset manager’s stock worth $32,000 after buying an additional 231 shares during the period. Penserra Capital Management LLC grew its position in T. Rowe Price Group by 52.7% during the fourth quarter. Penserra Capital Management LLC now owns 252 shares of the asset manager’s stock worth $33,000 after buying an additional 87 shares during the period. CNB Bank grew its position in T. Rowe Price Group by 302.7% during the fourth quarter. CNB Bank now owns 298 shares of the asset manager’s stock worth $36,000 after buying an additional 224 shares during the period. Finally, Harvest Fund Management Co. Ltd grew its position in T. Rowe Price Group by 36.3% during the first quarter. Harvest Fund Management Co. Ltd now owns 398 shares of the asset manager’s stock worth $38,000 after buying an additional 106 shares during the period. Institutional investors own 71.82% of the company’s stock.

Shares of TROW opened at $114.65 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.55 and a current ratio of 4.55. The company has a market capitalization of $26.13 billion, a price-to-earnings ratio of 14.28, a PEG ratio of 1.82 and a beta of 1.16. The company’s 50 day simple moving average is $106.14 and its 200 day simple moving average is $118.52. T. Rowe Price Group Inc has a 1 year low of $82.51 and a 1 year high of $139.82.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Tuesday, April 28th. The asset manager reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.08. The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.43 billion. T. Rowe Price Group had a net margin of 33.86% and a return on equity of 29.22%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.87 earnings per share. Equities analysts expect that T. Rowe Price Group Inc will post 6.81 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 3.14%. The ex-dividend date is Friday, June 12th. T. Rowe Price Group’s payout ratio is 44.61%.

Several brokerages have weighed in on TROW. JPMorgan Chase & Co. upped their target price on shares of T. Rowe Price Group from $101.00 to $110.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 29th. Zacks Investment Research upgraded shares of T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $118.00 price target on the stock in a research report on Wednesday, March 11th. Goldman Sachs Group lowered shares of T. Rowe Price Group from a “neutral” rating to a “sell” rating and lowered their price target for the company from $120.00 to $84.00 in a research report on Tuesday, March 24th. Citigroup increased their price target on shares of T. Rowe Price Group from $100.00 to $112.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Finally, Barclays increased their price target on shares of T. Rowe Price Group from $90.00 to $100.00 and gave the company an “underweight” rating in a research report on Wednesday, April 29th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. T. Rowe Price Group currently has an average rating of “Hold” and an average target price of $108.67.

In other T. Rowe Price Group news, VP W. Sharps Robert sold 3,500 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $117.50, for a total transaction of $411,250.00. Following the transaction, the vice president now owns 476,176 shares of the company’s stock, valued at $55,950,680. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Mary K. Bush sold 1,851 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $115.34, for a total transaction of $213,494.34. Following the transaction, the director now directly owns 15,955 shares in the company, valued at approximately $1,840,249.70. The disclosure for this sale can be found here. Corporate insiders own 1.00% 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.

Recommended Story: What is a Lock-Up Period?

Want to see what other hedge funds are holding TROW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for T. Rowe Price Group Inc (NASDAQ:TROW).

Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

Receive News & Ratings for T. Rowe Price Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for T. Rowe Price Group and related companies with MarketBeat.com's FREE daily email newsletter.