T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. raised its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 664,063 shares of the asset manager’s stock after buying an additional 9,924 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.30% of T. Rowe Price Group worth $72,336,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Oppenheimer Asset Management Inc. boosted its position in T. Rowe Price Group by 14.3% during the first quarter. Oppenheimer Asset Management Inc. now owns 2,674 shares of the asset manager’s stock worth $326,000 after purchasing an additional 334 shares in the last quarter. QRG Capital Management Inc. lifted its position in shares of T. Rowe Price Group by 8.0% during the 1st quarter. QRG Capital Management Inc. now owns 5,059 shares of the asset manager’s stock valued at $617,000 after buying an additional 376 shares in the last quarter. Russell Investments Group Ltd. grew its stake in T. Rowe Price Group by 9.8% in the 1st quarter. Russell Investments Group Ltd. now owns 122,763 shares of the asset manager’s stock valued at $14,943,000 after acquiring an additional 10,944 shares during the period. State Board of Administration of Florida Retirement System increased its holdings in T. Rowe Price Group by 3.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 257,796 shares of the asset manager’s stock worth $29,105,000 after acquiring an additional 9,519 shares in the last quarter. Finally, HBK Sorce Advisory LLC raised its position in T. Rowe Price Group by 8.9% during the first quarter. HBK Sorce Advisory LLC now owns 3,123 shares of the asset manager’s stock worth $381,000 after acquiring an additional 256 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Stock Up 1.1 %

Shares of TROW opened at $119.80 on Friday. The stock has a fifty day simple moving average of $110.11 and a two-hundred day simple moving average of $112.06. The company has a market capitalization of $26.61 billion, a PE ratio of 12.96, a price-to-earnings-growth ratio of 1.72 and a beta of 1.41. T. Rowe Price Group, Inc. has a 52-week low of $96.46 and a 52-week high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.21. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the previous year, the firm earned $2.17 earnings per share. T. Rowe Price Group’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, equities analysts anticipate that T. Rowe Price Group, Inc. will post 9.33 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date is Friday, December 13th. T. Rowe Price Group’s dividend payout ratio is presently 54.27%.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the transaction, the vice president now owns 123,624 shares of the company’s stock, valued at $12,712,255.92. This represents a 8.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the transaction, the insider now directly owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. This trade represents a 3.36 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

TROW has been the topic of several research analyst reports. Wells Fargo & Company lifted their target price on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 9th. Evercore ISI boosted their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. The Goldman Sachs Group reduced their target price on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a report on Thursday, October 3rd. Morgan Stanley boosted their price target on T. Rowe Price Group from $127.00 to $129.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Finally, TD Cowen decreased their price objective on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $115.55.

About T. Rowe Price Group

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.