Mitsubishi UFJ Trust & Banking Corp Has $47.17 Million Stock Position in T. Rowe Price Group, Inc. $TROW

Mitsubishi UFJ Trust & Banking Corp boosted its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 30.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 459,550 shares of the asset manager’s stock after buying an additional 107,643 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in T. Rowe Price Group were worth $47,168,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TROW. Candriam S.C.A. boosted its position in shares of T. Rowe Price Group by 20.4% in the second quarter. Candriam S.C.A. now owns 30,931 shares of the asset manager’s stock valued at $2,985,000 after acquiring an additional 5,236 shares during the period. Greenspring Advisors LLC acquired a new position in T. Rowe Price Group during the 3rd quarter valued at $1,583,000. Allen Wealth Management LLC boosted its holdings in T. Rowe Price Group by 459.3% in the 3rd quarter. Allen Wealth Management LLC now owns 13,855 shares of the asset manager’s stock valued at $1,422,000 after purchasing an additional 11,378 shares during the period. Confluence Investment Management LLC grew its position in T. Rowe Price Group by 2.7% in the 3rd quarter. Confluence Investment Management LLC now owns 973,769 shares of the asset manager’s stock worth $99,948,000 after purchasing an additional 25,316 shares during the last quarter. Finally, Amundi increased its holdings in shares of T. Rowe Price Group by 16.9% during the 2nd quarter. Amundi now owns 1,607,616 shares of the asset manager’s stock worth $153,714,000 after purchasing an additional 232,361 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insider Activity

In related news, VP Arif Husain sold 4,260 shares of T. Rowe Price Group stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $101.96, for a total transaction of $434,349.60. Following the completion of the sale, the vice president directly owned 47,102 shares of the company’s stock, valued at $4,802,519.92. The trade was a 8.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.00% of the stock is owned by corporate insiders.

T. Rowe Price Group Trading Down 1.4%

T. Rowe Price Group stock opened at $105.63 on Friday. The company has a market cap of $23.05 billion, a PE ratio of 11.51, a PEG ratio of 2.56 and a beta of 1.52. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $118.32. The company’s 50-day moving average is $103.93 and its two-hundred day moving average is $104.55.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.26. T. Rowe Price Group had a net margin of 28.89% and a return on equity of 19.95%. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the previous year, the firm posted $2.57 earnings per share. T. Rowe Price Group’s revenue for the quarter was up 6.0% compared to the same quarter last year. Research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th were paid a $1.27 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.8%. T. Rowe Price Group’s dividend payout ratio is 55.34%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on TROW shares. Deutsche Bank Aktiengesellschaft reduced their target price on shares of T. Rowe Price Group from $113.00 to $106.00 and set a “hold” rating for the company in a research note on Wednesday, December 17th. Citigroup lifted their price target on shares of T. Rowe Price Group from $105.00 to $107.00 in a research note on Monday, November 3rd. Evercore ISI increased their target price on T. Rowe Price Group from $115.00 to $116.00 in a report on Monday, January 12th. Bank of America lifted their price target on shares of T. Rowe Price Group from $85.00 to $86.00 in a report on Wednesday, January 14th. Finally, Zacks Research lowered T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Eleven research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $107.31.

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.