Nomura Asset Management Co. Ltd. Sells 15,671 Shares of T. Rowe Price Group, Inc. $TROW

Nomura Asset Management Co. Ltd. decreased its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.5% during the fourth quarter, Holdings Channel reports. The fund owned 429,060 shares of the asset manager’s stock after selling 15,671 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in T. Rowe Price Group were worth $43,927,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. TD Private Client Wealth LLC lifted its holdings in T. Rowe Price Group by 91.8% in the fourth quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 123 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in T. Rowe Price Group by 540.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock valued at $29,000 after acquiring an additional 238 shares during the period. Canton Hathaway LLC bought a new position in T. Rowe Price Group in the fourth quarter valued at about $31,000. Sound Income Strategies LLC lifted its holdings in T. Rowe Price Group by 170.3% in the fourth quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 189 shares during the period. Finally, TD Waterhouse Canada Inc. lifted its holdings in T. Rowe Price Group by 92.0% in the fourth quarter. TD Waterhouse Canada Inc. now owns 386 shares of the asset manager’s stock valued at $40,000 after acquiring an additional 185 shares during the period. Institutional investors own 73.39% of the company’s stock.

Wall Street Analyst Weigh In

TROW has been the topic of a number of recent research reports. Keefe, Bruyette & Woods increased their target price on T. Rowe Price Group from $95.00 to $107.00 and gave the company a “market perform” rating in a report on Friday, May 1st. Weiss Ratings reissued a “hold (c)” rating on shares of T. Rowe Price Group in a report on Friday, May 8th. Barclays raised their price objective on T. Rowe Price Group from $87.00 to $89.00 and gave the stock an “underweight” rating in a research note on Friday, May 1st. The Goldman Sachs Group raised their price objective on T. Rowe Price Group from $85.00 to $90.00 in a research note on Friday, May 1st. Finally, Jefferies Financial Group decreased their price objective on T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating on the stock in a research note on Wednesday, April 8th. Eleven analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $99.54.

Insider Transactions at T. Rowe Price Group

In related news, VP Stephon A. Jackson sold 3,000 shares of T. Rowe Price Group stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total transaction of $307,680.00. Following the sale, the vice president owned 83,883 shares of the company’s stock, valued at approximately $8,603,040.48. This trade represents a 3.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.60% of the company’s stock.

T. Rowe Price Group Price Performance

NASDAQ TROW opened at $104.53 on Monday. The stock’s 50-day moving average price is $97.35 and its 200-day moving average price is $99.22. T. Rowe Price Group, Inc. has a 52 week low of $85.22 and a 52 week high of $118.22. The company has a market capitalization of $22.40 billion, a P/E ratio of 11.20, a price-to-earnings-growth ratio of 5.35 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 EPS for the quarter, topping the consensus estimate of $2.37 by $0.15. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter last year, the company earned $2.23 earnings per share. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. Research analysts anticipate that T. Rowe Price Group, Inc. will post 9.63 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Monday, June 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is 55.73%.

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.