Mitsubishi UFJ Asset Management Co. Ltd. Purchases 18,952 Shares of T. Rowe Price Group, Inc. $TROW

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 520,782 shares of the asset manager’s stock after acquiring an additional 18,952 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in T. Rowe Price Group were worth $54,489,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Northern Trust Corp increased its holdings in T. Rowe Price Group by 6.4% during the 3rd quarter. Northern Trust Corp now owns 2,529,116 shares of the asset manager’s stock worth $259,588,000 after acquiring an additional 152,451 shares during the period. Dimensional Fund Advisors LP increased its holdings in T. Rowe Price Group by 3.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,090,249 shares of the asset manager’s stock worth $214,557,000 after acquiring an additional 64,791 shares during the period. Caisse de depot et placement du Quebec increased its holdings in 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 during the period. Ameriprise Financial Inc. increased its holdings in T. Rowe Price Group by 5.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 873,092 shares of the asset manager’s stock worth $89,614,000 after acquiring an additional 45,845 shares during the period. Finally, Allianz Asset Management GmbH increased its holdings in T. Rowe Price Group by 24.8% during the 3rd quarter. Allianz Asset Management GmbH now owns 767,672 shares of the asset manager’s stock worth $78,794,000 after acquiring an additional 152,318 shares during the period. Institutional investors own 73.39% of the company’s stock.

Wall Street Analysts Forecast Growth

TROW has been the topic of a number of analyst reports. Zacks Research lowered shares of T. Rowe Price Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 14th. Jefferies Financial Group decreased their target price on shares of T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating on the stock in a report on Wednesday, April 8th. JPMorgan Chase & Co. decreased their target price on shares of T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating on the stock in a report on Friday, April 24th. Keefe, Bruyette & Woods upped their target price on shares of T. Rowe Price Group from $95.00 to $107.00 and gave the stock a “market perform” rating in a report on Friday, May 1st. Finally, TD Cowen boosted their price target on shares of T. Rowe Price Group from $93.00 to $94.00 and gave the stock a “hold” rating in a research note on Friday, May 1st. Ten equities research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, T. Rowe Price Group presently has a consensus rating of “Reduce” and a consensus price target of $99.54.

T. Rowe Price Group Price Performance

TROW stock opened at $105.33 on Friday. T. Rowe Price Group, Inc. has a one year low of $85.22 and a one year high of $118.22. The stock has a market cap of $22.57 billion, a PE ratio of 11.29, a P/E/G ratio of 4.53 and a beta of 1.51. The firm has a 50 day simple moving average of $93.48 and a two-hundred day simple moving average of $99.20.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 EPS 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 during the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter in the previous year, the company earned $2.23 EPS. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, research analysts expect that T. Rowe Price Group, Inc. will post 9.61 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be paid a $1.30 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.9%. T. Rowe Price Group’s dividend payout ratio is 55.73%.

T. Rowe Price Group 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.