Mirae Asset Global Investments Co. Ltd. Has $27.86 Million Position in T. Rowe Price Group, Inc. $TROW

Mirae Asset Global Investments Co. Ltd. lifted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 15.2% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 245,033 shares of the asset manager’s stock after acquiring an additional 32,372 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in T. Rowe Price Group were worth $27,858,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in TROW. State Street Corp increased its stake in T. Rowe Price Group by 0.3% during the fourth quarter. State Street Corp now owns 14,159,797 shares of the asset manager’s stock valued at $1,449,680,000 after acquiring an additional 45,530 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of T. Rowe Price Group by 332.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager’s stock worth $897,880,000 after acquiring an additional 6,740,172 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of T. Rowe Price Group by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,073,846 shares of the asset manager’s stock worth $826,600,000 after purchasing an additional 143,109 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of T. Rowe Price Group by 12.6% during the 1st quarter. First Trust Advisors LP now owns 3,694,171 shares of the asset manager’s stock worth $332,993,000 after purchasing an additional 413,317 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of T. Rowe Price Group by 3.9% during the fourth quarter. Invesco Ltd. now owns 3,520,858 shares of the asset manager’s stock valued at $360,465,000 after purchasing an additional 131,438 shares during the period. 73.39% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Price Performance

T. Rowe Price Group stock opened at $111.30 on Friday. The company has a market capitalization of $23.74 billion, a PE ratio of 11.16, a price-to-earnings-growth ratio of 4.34 and a beta of 1.47. T. Rowe Price Group, Inc. has a one year low of $85.22 and a one year high of $122.00. The business has a 50 day simple moving average of $113.43 and a 200 day simple moving average of $102.60.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, July 31st. The asset manager reported $2.57 EPS for the quarter, beating the consensus estimate of $2.52 by $0.05. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the previous year, the firm earned $2.24 EPS. T. Rowe Price Group’s quarterly revenue was up 10.7% on a year-over-year basis. Equities analysts anticipate that T. Rowe Price Group, Inc. will post 10.13 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Tuesday, September 15th. T. Rowe Price Group’s payout ratio is currently 52.16%.

Analyst Ratings Changes

TROW has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $109.00 target price on shares of T. Rowe Price Group in a research note on Monday, August 3rd. JPMorgan Chase & Co. lowered their price target 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 restated a “market perform” rating and issued a $115.00 price objective (down from $120.00) on shares of T. Rowe Price Group in a research note on Monday, August 3rd. TD Cowen raised their price objective on shares of T. Rowe Price Group from $107.00 to $108.00 and gave the stock a “hold” rating in a report on Monday, August 3rd. Finally, Morgan Stanley set a $116.00 target price on shares of T. Rowe Price Group in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $105.67.

T. Rowe Price Group Company 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.