Nomura Asset Management Co. Ltd. Has $41.17 Million Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Nomura Asset Management Co. Ltd. lessened its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 377,919 shares of the asset manager’s stock after selling 14,181 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in T. Rowe Price Group were worth $41,167,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Iron Horse Wealth Management LLC raised its stake in shares of T. Rowe Price Group by 90.9% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 110 shares during the period. Hexagon Capital Partners LLC grew its holdings in shares of T. Rowe Price Group by 54.7% during the third quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock worth $32,000 after buying an additional 104 shares in the last quarter. Family Firm Inc. acquired a new stake in T. Rowe Price Group in the 2nd quarter valued at approximately $36,000. True Wealth Design LLC bought a new stake in T. Rowe Price Group in the 3rd quarter valued at approximately $37,000. Finally, Larson Financial Group LLC boosted its position in T. Rowe Price Group by 866.7% during the 3rd quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock worth $38,000 after acquiring an additional 312 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

Insiders Place Their Bets

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the transaction, the insider now owns 13,939 shares in the company, valued at $1,459,831.47. This trade represents a 3.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on TROW shares. Evercore ISI lifted their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Wells Fargo & Company lifted their price target on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 9th. Morgan Stanley boosted their price target on shares of T. Rowe Price Group from $127.00 to $129.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. TD Cowen decreased their price objective on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a report on Monday, November 4th. Finally, The Goldman Sachs Group dropped their target price on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a report on Thursday, October 3rd. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $116.00.

T. Rowe Price Group Trading Down 0.2 %

Shares of NASDAQ TROW opened at $123.59 on Tuesday. T. Rowe Price Group, Inc. has a 12 month low of $97.50 and a 12 month high of $125.81. The stock has a 50 day moving average of $115.55 and a 200-day moving average of $113.11. The company has a market capitalization of $27.46 billion, a P/E ratio of 13.52, a P/E/G ratio of 1.75 and a beta of 1.42.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.21. The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.17 earnings per share. Analysts predict that T. Rowe Price Group, Inc. will post 9.39 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a $1.24 dividend. The ex-dividend date is Friday, December 13th. This represents a $4.96 annualized dividend and a yield of 4.01%. T. Rowe Price Group’s dividend payout ratio is currently 54.27%.

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.