Mirae Asset Global Investments Co. Ltd. Grows Stock Position in T. Rowe Price Group, Inc. $TROW

Mirae Asset Global Investments Co. Ltd. boosted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 11.7% in the second quarter, Holdings Channel reports. The fund owned 238,779 shares of the asset manager’s stock after buying an additional 25,010 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in T. Rowe Price Group were worth $23,042,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. TFG Advisers LLC boosted 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 worth $268,000 after acquiring an additional 97 shares during the period. Cooper Financial Group boosted its stake in shares of T. Rowe Price Group by 5.2% during the 1st quarter. Cooper Financial Group now owns 2,234 shares of the asset manager’s stock valued at $205,000 after buying an additional 110 shares during the last quarter. Hexagon Capital Partners LLC boosted its stake in shares of T. Rowe Price Group by 44.8% during the 1st quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager’s stock valued at $34,000 after buying an additional 113 shares during the last quarter. Associated Banc Corp boosted its stake in shares of T. Rowe Price Group by 0.5% during the 1st quarter. Associated Banc Corp now owns 24,864 shares of the asset manager’s stock valued at $2,284,000 after buying an additional 114 shares during the last quarter. Finally, Dakota Wealth Management boosted its stake in shares of T. Rowe Price Group by 4.7% during the 2nd quarter. Dakota Wealth Management now owns 2,537 shares of the asset manager’s stock valued at $245,000 after buying an additional 114 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insiders Place Their Bets

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $105.01, for a total value of $324,480.90. Following the sale, the director directly owned 47,335 shares of the company’s stock, valued at $4,970,648.35. This trade represents a 6.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.00% of the stock is owned by corporate insiders.

T. Rowe Price Group Price Performance

Shares of TROW opened at $103.28 on Friday. The business’s fifty day moving average price is $105.71 and its 200 day moving average price is $98.06. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $125.81. The stock has a market capitalization of $22.69 billion, a PE ratio of 11.54, a price-to-earnings-growth ratio of 2.62 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.09. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same period last year, the business posted $2.26 earnings per share. The firm’s revenue for the quarter was down .6% on a year-over-year basis. As a group, research analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 15th were given a $1.27 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $5.08 annualized dividend and a yield of 4.9%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 56.76%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on TROW shares. The Goldman Sachs Group increased their target price on T. Rowe Price Group from $91.00 to $92.00 and gave the company a “sell” rating in a research note on Friday. Barclays reiterated an “underweight” rating and set a $95.00 target price (up from $91.00) on shares of T. Rowe Price Group in a research note on Monday, August 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of T. Rowe Price Group in a research note on Saturday, September 27th. Bank of America increased their target price on T. Rowe Price Group from $91.00 to $97.00 and gave the company an “underperform” rating in a research note on Thursday. Finally, Evercore ISI reiterated a “positive” rating on shares of T. Rowe Price Group in a research note on Friday, September 5th. One research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $104.08.

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.