Meiji Yasuda Asset Management Co Ltd. acquired a new stake in T. Rowe Price Group Inc (NASDAQ:TROW) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 3,054 shares of the asset manager’s stock, valued at approximately $377,000.
Several other large investors have also recently made changes to their positions in the business. Tarbox Family Office Inc. lifted its holdings in T. Rowe Price Group by 423.1% in the 2nd quarter. Tarbox Family Office Inc. now owns 204 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 165 shares during the last quarter. HHM Wealth Advisors LLC bought a new position in shares of T. Rowe Price Group in the first quarter valued at $28,000. Harvest Fund Management Co. Ltd increased its holdings in shares of T. Rowe Price Group by 36.3% in the first quarter. Harvest Fund Management Co. Ltd now owns 398 shares of the asset manager’s stock valued at $38,000 after buying an additional 106 shares in the last quarter. Pearl River Capital LLC acquired a new stake in shares of T. Rowe Price Group during the 1st quarter valued at $39,000. Finally, Parkside Financial Bank & Trust boosted its stake in shares of T. Rowe Price Group by 35.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 337 shares of the asset manager’s stock worth $42,000 after acquiring an additional 88 shares in the last quarter. Institutional investors own 68.06% of the company’s stock.
In other news, VP Christopher D. Alderson sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $134.33, for a total transaction of $13,433,000.00. Following the sale, the vice president now owns 366,424 shares in the company, valued at approximately $49,221,735.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert F. Maclellan sold 10,500 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $136.45, for a total value of $1,432,725.00. Following the completion of the sale, the director now directly owns 21,656 shares of the company’s stock, valued at approximately $2,954,961.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 119,000 shares of company stock valued at $16,048,400. 1.00% of the stock is currently owned by corporate insiders.
Several brokerages have recently commented on TROW. Wells Fargo & Co upped their target price on T. Rowe Price Group from $72.00 to $78.00 in a report on Thursday, July 30th. BMO Capital Markets raised their target price on T. Rowe Price Group from $109.00 to $128.00 and gave the stock a “market perform” rating in a research report on Monday, June 29th. Citigroup lifted their price target on T. Rowe Price Group from $135.00 to $148.00 and gave the company a “neutral” rating in a report on Tuesday, August 4th. Deutsche Bank upped their price objective on shares of T. Rowe Price Group from $139.00 to $149.00 and gave the company a “hold” rating in a research note on Thursday, July 30th. Finally, Barclays increased their target price on shares of T. Rowe Price Group from $100.00 to $110.00 in a research report on Monday, June 15th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $119.17.
TROW traded down $3.14 during trading on Friday, reaching $131.94. 18,514 shares of the company’s stock were exchanged, compared to its average volume of 829,697. T. Rowe Price Group Inc has a fifty-two week low of $82.51 and a fifty-two week high of $142.51. The company has a market capitalization of $32.04 billion, a P/E ratio of 15.72, a PEG ratio of 2.10 and a beta of 1.13. The business has a 50 day moving average price of $136.61 and a 200 day moving average price of $120.46.
T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Wednesday, July 29th. The asset manager reported $2.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.04 by $0.25. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.41 billion. T. Rowe Price Group had a return on equity of 29.65% and a net margin of 35.05%. T. Rowe Price Group’s revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the company earned $2.03 EPS. Sell-side analysts anticipate that T. Rowe Price Group Inc will post 8.58 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Monday, September 14th. T. Rowe Price Group’s dividend payout ratio is currently 44.61%.
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.
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