Meiji Yasuda Asset Management Co Ltd. Increases Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 19.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 146,849 shares of the asset manager’s stock after purchasing an additional 23,745 shares during the quarter. T. Rowe Price Group makes up approximately 0.7% of Meiji Yasuda Asset Management Co Ltd.’s portfolio, making the stock its 28th biggest position. Meiji Yasuda Asset Management Co Ltd. owned approximately 0.07% of T. Rowe Price Group worth $16,933,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bradley Foster & Sargent Inc. CT increased its position in shares of T. Rowe Price Group by 3.1% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 10,214 shares of the asset manager’s stock worth $1,178,000 after purchasing an additional 310 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in T. Rowe Price Group by 15.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager’s stock worth $185,810,000 after buying an additional 220,105 shares during the last quarter. Plato Investment Management Ltd increased its position in T. Rowe Price Group by 23.9% during the second quarter. Plato Investment Management Ltd now owns 14,649 shares of the asset manager’s stock worth $1,689,000 after buying an additional 2,825 shares during the period. OV Management LLC lifted its stake in T. Rowe Price Group by 1.4% in the second quarter. OV Management LLC now owns 12,070 shares of the asset manager’s stock valued at $1,392,000 after buying an additional 170 shares during the last quarter. Finally, Leelyn Smith LLC boosted its holdings in shares of T. Rowe Price Group by 1.5% in the second quarter. Leelyn Smith LLC now owns 20,078 shares of the asset manager’s stock valued at $2,315,000 after acquiring an additional 304 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

Analyst Upgrades and Downgrades

TROW has been the subject of several research reports. Wells Fargo & Company assumed coverage on shares of T. Rowe Price Group in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $109.00 price target for the company. TD Cowen decreased their price target on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating for the company in a report on Monday, July 29th. Barclays initiated coverage on shares of T. Rowe Price Group in a research note on Tuesday, August 27th. They issued an “underweight” rating and a $99.00 price objective on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. boosted their price target on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 23rd. Three research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Based on data from MarketBeat, T. Rowe Price Group has an average rating of “Hold” and an average target price of $113.30.

Insider Transactions at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group 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 completion of the sale, the insider now owns 13,939 shares in the company, valued at approximately $1,459,831.47. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the transaction, the vice president now owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jessica M. Hiebler sold 484 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the transaction, the insider now owns 13,939 shares of the company’s stock, valued at $1,459,831.47. The disclosure for this sale can be found here. Insiders sold a total of 13,854 shares of company stock valued at $1,443,767 over the last three months. 2.00% of the stock is currently owned by insiders.

T. Rowe Price Group Stock Performance

Shares of TROW stock opened at $107.92 on Wednesday. The stock has a market cap of $24.10 billion, a PE ratio of 12.82, a P/E/G ratio of 1.67 and a beta of 1.41. T. Rowe Price Group, Inc. has a 1 year low of $87.43 and a 1 year high of $122.27. The stock has a fifty day moving average price of $109.29 and a 200 day moving average price of $113.42.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.01). T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same quarter in the prior year, the company earned $2.02 earnings per share. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, equities research analysts predict that T. Rowe Price Group, Inc. will post 9 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a $1.24 dividend. The ex-dividend date is Friday, September 13th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.60%. T. Rowe Price Group’s dividend payout ratio (DPR) is 58.91%.

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.