Resona Asset Management Co. Ltd. Sells 5,974 Shares of T. Rowe Price Group, Inc. $TROW

Resona Asset Management Co. Ltd. lessened its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 6.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 91,146 shares of the asset manager’s stock after selling 5,974 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in T. Rowe Price Group were worth $9,382,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of TROW. TFG Advisers LLC increased its holdings in T. Rowe Price Group by 3.6% in the 2nd quarter. TFG Advisers LLC now owns 2,779 shares of the asset manager’s stock valued at $268,000 after buying an additional 97 shares during the period. TD Waterhouse Canada Inc. boosted its position in shares of T. Rowe Price Group by 66.7% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 100 shares in the last quarter. Bill Few Associates Inc. increased its stake in T. Rowe Price Group by 4.3% in the second quarter. Bill Few Associates Inc. now owns 2,577 shares of the asset manager’s stock valued at $249,000 after acquiring an additional 107 shares during the period. Dakota Wealth Management increased its stake in T. Rowe Price Group by 4.7% in the second quarter. Dakota Wealth Management now owns 2,537 shares of the asset manager’s stock valued at $245,000 after acquiring an additional 114 shares during the period. Finally, Beacon Investment Advisors LLC raised its position in T. Rowe Price Group by 1.2% in the second quarter. Beacon Investment Advisors LLC now owns 10,256 shares of the asset manager’s stock worth $986,000 after purchasing an additional 120 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Arif Husain sold 4,260 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total transaction of $434,349.60. Following the transaction, the vice president directly owned 47,102 shares in the company, valued at approximately $4,802,519.92. This represents 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 accessible through this link. Corporate insiders own 1.60% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of TROW stock opened at $106.09 on Tuesday. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $118.32. The stock has a market capitalization of $23.15 billion, a PE ratio of 11.56, a PEG ratio of 2.56 and a beta of 1.52. The stock’s fifty day moving average is $104.10 and its 200-day moving average is $104.59.

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on TROW shares. Morgan Stanley lifted their price objective on T. Rowe Price Group from $126.00 to $128.00 and gave the company an “equal weight” rating in a report on Wednesday, December 17th. TD Cowen cut their target price on T. Rowe Price Group from $112.00 to $109.00 and set a “hold” rating for the company in a research report on Wednesday, January 14th. BMO Capital Markets boosted their price target on T. Rowe Price Group from $108.00 to $110.00 and gave the company a “market perform” rating in a research note on Tuesday, January 13th. Weiss Ratings reiterated a “hold (c+)” rating on shares of T. Rowe Price Group in a research note on Monday, December 29th. Finally, Jefferies Financial Group boosted their target price on shares of T. Rowe Price Group from $104.00 to $106.00 and gave the company a “hold” rating in a research note on Tuesday, October 7th. Eleven analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus 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.