Mizuho Securities USA LLC Raises Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Mizuho Securities USA LLC lifted its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 45.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 21,056 shares of the asset manager’s stock after purchasing an additional 6,622 shares during the quarter. Mizuho Securities USA LLC’s holdings in T. Rowe Price Group were worth $2,381,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of TROW. Amundi grew its stake in shares of T. Rowe Price Group by 30.1% in the 4th quarter. Amundi now owns 1,717,877 shares of the asset manager’s stock worth $194,064,000 after buying an additional 397,278 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of T. Rowe Price Group by 5.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager’s stock valued at $812,798,000 after acquiring an additional 346,369 shares during the last quarter. L.K. Benson & Company P.C. purchased a new position in T. Rowe Price Group in the fourth quarter worth about $36,643,000. Caisse DE Depot ET Placement DU Quebec increased its stake in T. Rowe Price Group by 382.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 398,175 shares of the asset manager’s stock worth $43,373,000 after acquiring an additional 315,581 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in T. Rowe Price Group during the fourth quarter valued at approximately $32,332,000. Institutional investors own 73.39% of the company’s stock.

Insider Buying and Selling

In related news, VP Arif Husain sold 4,112 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total transaction of $449,318.24. Following the sale, the vice president now owns 36,800 shares of the company’s stock, valued at $4,021,136. This trade represents a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on TROW shares. Morgan Stanley dropped their target price on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a report on Monday, February 24th. Wells Fargo & Company reduced their target price on shares of T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $113.00 price target (up from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. Finally, Barclays dropped their target price on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a research report on Thursday, February 6th. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $114.09.

T. Rowe Price Group Stock Up 3.4 %

Shares of NASDAQ TROW opened at $95.98 on Tuesday. T. Rowe Price Group, Inc. has a twelve month low of $91.37 and a twelve month high of $125.81. The firm has a market cap of $21.37 billion, a PE ratio of 10.48, a price-to-earnings-growth ratio of 2.86 and a beta of 1.46. The business has a fifty day simple moving average of $106.10 and a two-hundred day simple moving average of $111.18.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same quarter in the previous year, the business earned $1.72 earnings per share. On average, research analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 5.29%. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date is Friday, March 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 55.46%.

T. Rowe Price Group Company 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.