Sumitomo Mitsui Trust Holdings Inc. Has $70.72 Million Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Sumitomo Mitsui Trust Holdings Inc. lifted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 656,709 shares of the asset manager’s stock after buying an additional 35,863 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in T. Rowe Price Group were worth $70,721,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Simmons Bank increased its position in shares of T. Rowe Price Group by 23.0% in the third quarter. Simmons Bank now owns 3,503 shares of the asset manager’s stock valued at $367,000 after acquiring an additional 656 shares during the last quarter. L. Roy Papp & Associates LLP increased its position in T. Rowe Price Group by 5.8% during the fourth quarter. L. Roy Papp & Associates LLP now owns 158,875 shares of the asset manager’s stock worth $17,109,000 after buying an additional 8,773 shares during the last quarter. Nordea Investment Management AB increased its position in T. Rowe Price Group by 3.5% during the fourth quarter. Nordea Investment Management AB now owns 317,349 shares of the asset manager’s stock worth $34,299,000 after buying an additional 10,680 shares during the last quarter. Vest Financial LLC increased its position in T. Rowe Price Group by 48.8% during the fourth quarter. Vest Financial LLC now owns 280,552 shares of the asset manager’s stock worth $30,213,000 after buying an additional 92,059 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its position in T. Rowe Price Group by 11.6% during the third quarter. Nomura Asset Management Co. Ltd. now owns 297,846 shares of the asset manager’s stock worth $31,235,000 after buying an additional 30,899 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insiders Place Their Bets

In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 8,740 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the completion of the sale, the director now directly owns 21,073 shares in the company, valued at $2,493,357.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Freeman A. Hrabowski III sold 8,740 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $118.32, for a total value of $1,034,116.80. Following the completion of the transaction, the director now directly owns 21,073 shares in the company, valued at approximately $2,493,357.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jessica M. Hiebler sold 1,138 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $107.13, for a total value of $121,913.94. Following the completion of the transaction, the insider now owns 14,113 shares of the company’s stock, valued at $1,511,925.69. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price target on T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a research report on Tuesday. TD Cowen raised T. Rowe Price Group from a “sell” rating to a “hold” rating and boosted their price target for the stock from $92.00 to $114.00 in a research report on Monday, April 8th. Wells Fargo & Company upped their target price on T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a research report on Friday, February 9th. UBS Group upped their target price on T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research report on Friday, April 12th. Finally, Keefe, Bruyette & Woods raised T. Rowe Price Group from an “underperform” rating to a “market perform” rating and upped their target price for the company from $106.00 to $120.00 in a research report on Thursday, April 11th. Four investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat.com, T. Rowe Price Group presently has an average rating of “Hold” and an average target price of $110.56.

T. Rowe Price Group Trading Down 0.6 %

Shares of TROW stock opened at $111.39 on Thursday. The stock has a market cap of $24.91 billion, a P/E ratio of 14.35, a price-to-earnings-growth ratio of 2.16 and a beta of 1.40. The stock has a 50 day simple moving average of $114.67 and a 200 day simple moving average of $106.69. T. Rowe Price Group, Inc. has a 1 year low of $87.43 and a 1 year high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Thursday, February 8th. The asset manager reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.12. T. Rowe Price Group had a return on equity of 18.41% and a net margin of 27.69%. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the prior year, the company earned $1.74 earnings per share. The company’s quarterly revenue was up 6.5% on a year-over-year basis. Analysts forecast that T. Rowe Price Group, Inc. will post 8.13 EPS for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a dividend of $1.24 per share. The ex-dividend date was Thursday, March 14th. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.22. This represents a $4.96 annualized dividend and a yield of 4.45%. T. Rowe Price Group’s dividend payout ratio is presently 63.92%.

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.