SBI Okasan Asset Management Co.Ltd. Invests $648,000 in T. Rowe Price Group, Inc. $TROW

SBI Okasan Asset Management Co.Ltd. purchased a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the fourth quarter, Holdings Channel.com reports. The fund purchased 6,200 shares of the asset manager’s stock, valued at approximately $648,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. TD Private Client Wealth LLC increased its holdings in shares of T. Rowe Price Group by 91.8% during the 4th quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock worth $26,000 after buying an additional 123 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of T. Rowe Price Group by 540.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock worth $29,000 after buying an additional 238 shares during the last quarter. Canton Hathaway LLC acquired a new stake in shares of T. Rowe Price Group during the 4th quarter worth approximately $31,000. Sound Income Strategies LLC increased its holdings in shares of T. Rowe Price Group by 170.3% during the 4th quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock worth $32,000 after buying an additional 189 shares during the last quarter. Finally, TD Waterhouse Canada Inc. increased its holdings in shares of T. Rowe Price Group by 92.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 386 shares of the asset manager’s stock worth $40,000 after buying an additional 185 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 analysts have recently issued reports on TROW shares. Keefe, Bruyette & Woods raised their price target 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. Zacks Research upgraded shares of T. Rowe Price Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 13th. TD Cowen raised 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 report on Friday, May 1st. JPMorgan Chase & Co. cut their price target on shares of T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating for the company in a report on Friday, April 24th. Finally, Argus upgraded shares of T. Rowe Price Group to a “hold” rating in a report on Thursday, February 5th. Eleven investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $99.54.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock opened at $104.53 on Friday. T. Rowe Price Group, Inc. has a fifty-two week low of $85.22 and a fifty-two week high of $118.22. The firm has a 50 day moving average price of $97.35 and a 200 day moving average price of $99.25. The company has a market capitalization of $22.40 billion, a PE ratio of 11.20, a price-to-earnings-growth ratio of 5.30 and a beta of 1.51.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter last year, the firm earned $2.23 EPS. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, equities research analysts forecast that T. Rowe Price Group, Inc. will post 9.63 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

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

Insiders Place Their Bets

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 shares were sold at an average price of $102.56, for a total value of $307,680.00. Following the completion of the sale, the vice president owned 83,883 shares in the company, valued at approximately $8,603,040.48. This trade represents a 3.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.60% of the company’s stock.

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.