Sumitomo Mitsui DS Asset Management Company Ltd Increases Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 17.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,974 shares of the asset manager’s stock after acquiring an additional 3,678 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in T. Rowe Price Group were worth $2,720,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TROW. Dimensional Fund Advisors LP raised its stake in shares of T. Rowe Price Group by 15.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager’s stock worth $185,810,000 after purchasing an additional 220,105 shares during the last quarter. AQR Capital Management LLC grew its position in T. Rowe Price Group by 77.2% during the 2nd quarter. AQR Capital Management LLC now owns 451,237 shares of the asset manager’s stock worth $52,032,000 after purchasing an additional 196,565 shares during the period. Burney Co. purchased a new position in shares of T. Rowe Price Group during the 2nd quarter valued at about $20,938,000. Canada Pension Plan Investment Board lifted its holdings in shares of T. Rowe Price Group by 1,328.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 162,010 shares of the asset manager’s stock valued at $18,681,000 after buying an additional 150,665 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new position in T. Rowe Price Group in the second quarter valued at approximately $15,907,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Trading Up 2.1 %

TROW stock opened at $115.63 on Monday. The firm has a 50-day moving average of $107.54 and a two-hundred day moving average of $111.96. T. Rowe Price Group, Inc. has a 12 month low of $87.43 and a 12 month high of $122.27. The company has a market cap of $25.74 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 1.93 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.01). The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.79 billion. T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. T. Rowe Price Group’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.02 EPS. As a group, equities analysts forecast that T. Rowe Price Group, Inc. will post 9.08 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a $1.24 dividend. The ex-dividend date was Friday, September 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.29%. T. Rowe Price Group’s dividend payout ratio (DPR) is 58.56%.

Insider Activity

In related news, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the transaction, the insider now directly owns 13,939 shares in the company, valued at approximately $1,459,831.47. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the transaction, the insider now owns 13,939 shares of the company’s stock, valued at $1,459,831.47. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the sale, the vice president now owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TROW. Barclays lifted their price objective on shares of T. Rowe Price Group from $99.00 to $101.00 and gave the company an “underweight” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft raised their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Morgan Stanley boosted their price target on shares of T. Rowe Price Group from $125.00 to $127.00 and gave the stock an “equal weight” rating in a report on Friday. Evercore ISI lifted their target price on shares of T. Rowe Price Group from $108.00 to $109.00 and gave the company an “in-line” rating in a research report on Friday, October 4th. Finally, Wells Fargo & Company upped their price target on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 9th. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $113.00.

T. Rowe Price Group Profile

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.