Mitsubishi UFJ Asset Management Co. Ltd. Acquires 36,086 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 9.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 410,831 shares of the asset manager’s stock after buying an additional 36,086 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in T. Rowe Price Group were worth $47,118,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in TROW. Addison Advisors LLC lifted its position in T. Rowe Price Group by 67.4% in the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 93 shares in the last quarter. Curio Wealth LLC bought a new position in shares of T. Rowe Price Group in the fourth quarter valued at approximately $27,000. Y.D. More Investments Ltd boosted its position in shares of T. Rowe Price Group by 124.0% during the fourth 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 during the last quarter. Stonebridge Financial Group LLC purchased a new stake in T. Rowe Price Group in the 4th quarter valued at $32,000. Finally, Advantage Trust Co lifted its stake in 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 acquiring an additional 100 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock opened at $91.57 on Friday. The stock has a market capitalization of $20.35 billion, a P/E ratio of 10.00, a P/E/G ratio of 2.86 and a beta of 1.46. T. Rowe Price Group, Inc. has a 52-week low of $91.10 and a 52-week high of $125.81. The stock’s 50-day simple moving average is $104.61 and its 200 day simple moving average is $110.87.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. During the same quarter in the prior year, the business posted $1.72 earnings per share. Equities research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a $1.27 dividend. The ex-dividend date of this dividend was Friday, March 14th. 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%. T. Rowe Price Group’s payout ratio is 55.46%.

Insider Activity

In related news, VP Arif Husain sold 4,112 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total transaction of $449,318.24. Following the completion of the transaction, the vice president now owns 36,800 shares of the company’s stock, valued at approximately $4,021,136. The trade was a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

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.