Daiwa Securities Group Inc. Acquires 2,688 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Daiwa Securities Group Inc. raised its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 11.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 27,122 shares of the asset manager’s stock after acquiring an additional 2,688 shares during the quarter. Daiwa Securities Group Inc.’s holdings in T. Rowe Price Group were worth $2,954,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of TROW. Forsta AP Fonden boosted its position in shares of T. Rowe Price Group by 32.3% in the 2nd quarter. Forsta AP Fonden now owns 70,100 shares of the asset manager’s stock worth $8,083,000 after purchasing an additional 17,100 shares during the last quarter. Savant Capital LLC lifted its stake in T. Rowe Price Group by 36.6% in the second quarter. Savant Capital LLC now owns 32,887 shares of the asset manager’s stock valued at $3,792,000 after buying an additional 8,816 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in T. Rowe Price Group during the second quarter worth about $15,907,000. Aigen Investment Management LP acquired a new position in shares of T. Rowe Price Group during the 3rd quarter worth about $516,000. Finally, Cetera Advisors LLC increased its stake in shares of T. Rowe Price Group by 156.3% in the 1st quarter. Cetera Advisors LLC now owns 16,826 shares of the asset manager’s stock valued at $2,051,000 after acquiring an additional 10,260 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group decreased their price objective on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a report on Thursday, October 3rd. Morgan Stanley upped their price objective on shares of T. Rowe Price Group from $127.00 to $129.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Wells Fargo & Company lifted their target price on T. Rowe Price Group from $109.00 to $112.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft increased their price target on T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. cut their price objective on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat, T. Rowe Price Group currently has an average rating of “Hold” and an average price target of $115.55.

T. Rowe Price Group Trading Up 0.2 %

Shares of TROW opened at $124.16 on Thursday. The stock has a market capitalization of $27.58 billion, a price-to-earnings ratio of 13.58, a PEG ratio of 1.73 and a beta of 1.41. T. Rowe Price Group, Inc. has a 12 month low of $96.50 and a 12 month high of $124.83. The firm has a fifty day simple moving average of $113.18 and a 200 day simple moving average of $112.69.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter last year, the company earned $2.17 EPS. T. Rowe Price Group’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, research analysts predict that T. Rowe Price Group, Inc. will post 9.39 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date is Friday, December 13th. T. Rowe Price Group’s dividend payout ratio is currently 54.27%.

Insider Activity

In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the sale, the vice president now directly owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. This represents a 8.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the transaction, the insider now owns 13,939 shares of the company’s stock, valued at $1,459,831.47. The trade was a 3.36 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

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.