Mitsubishi UFJ Asset Management Co. Ltd. Purchases 36,086 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 9.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 410,831 shares of the asset manager’s stock after purchasing an additional 36,086 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.18% of T. Rowe Price Group worth $47,118,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Larson Financial Group LLC lifted its position in shares of 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 buying an additional 312 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of T. Rowe Price Group in the third quarter worth about $43,000. Townsquare Capital LLC boosted its stake in shares of T. Rowe Price Group by 6.6% in the 3rd quarter. Townsquare Capital LLC now owns 4,839 shares of the asset manager’s stock valued at $527,000 after purchasing an additional 299 shares in the last quarter. Bridgewater Associates LP grew its holdings in shares of T. Rowe Price Group by 794.1% during the 3rd quarter. Bridgewater Associates LP now owns 15,879 shares of the asset manager’s stock valued at $1,730,000 after purchasing an additional 14,103 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in T. Rowe Price Group by 6.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 61,737 shares of the asset manager’s stock worth $6,725,000 after purchasing an additional 3,969 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Arif Husain sold 4,112 shares of T. Rowe Price Group stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value of $449,318.24. Following the completion of the sale, the vice president now directly owns 36,800 shares of the company’s stock, valued at approximately $4,021,136. The trade was a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

TROW has been the topic of a number of research reports. Wells Fargo & Company decreased their target price on shares of T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $113.00 price objective (up previously from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Morgan Stanley dropped their target price on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a research report on Monday, February 24th. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Finally, Barclays dropped their price objective on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, T. Rowe Price Group has an average rating of “Hold” and an average price target of $114.09.

T. Rowe Price Group Stock Down 3.3 %

TROW opened at $91.57 on Friday. T. Rowe Price Group, Inc. has a twelve month low of $91.10 and a twelve month high of $125.81. The company has a fifty day moving average of $104.61 and a 200-day moving average of $110.87. The stock has a market cap of $20.35 billion, a PE ratio of 10.00, a price-to-earnings-growth ratio of 2.86 and a beta of 1.46.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same period last year, the company earned $1.72 EPS. Sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a $1.27 dividend. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 annualized dividend and a yield of 5.55%. T. Rowe Price Group’s payout ratio is 55.46%.

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.