Sumitomo Mitsui Trust Holdings Inc. Sells 7,271 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Sumitomo Mitsui Trust Holdings Inc. lowered its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 649,438 shares of the asset manager’s stock after selling 7,271 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.29% of T. Rowe Price Group worth $79,179,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. L. Roy Papp & Associates LLP grew its holdings in shares of T. Rowe Price Group by 5.8% during the 4th quarter. L. Roy Papp & Associates LLP now owns 158,875 shares of the asset manager’s stock worth $17,109,000 after acquiring an additional 8,773 shares during the period. Nomura Asset Management Co. Ltd. grew its stake in T. Rowe Price Group by 15.8% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 344,889 shares of the asset manager’s stock worth $37,141,000 after purchasing an additional 47,043 shares during the period. Nordea Investment Management AB grew its stake in T. Rowe Price Group by 3.5% in the fourth quarter. Nordea Investment Management AB now owns 317,349 shares of the asset manager’s stock worth $34,299,000 after purchasing an additional 10,680 shares during the period. Vest Financial LLC raised its holdings in T. Rowe Price Group by 48.8% in the fourth quarter. Vest Financial LLC now owns 280,552 shares of the asset manager’s stock worth $30,213,000 after purchasing an additional 92,059 shares in the last quarter. Finally, Nebula Research & Development LLC purchased a new position in T. Rowe Price Group during the fourth quarter valued at $807,000. 73.39% of the stock is owned by institutional investors.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $115.77 on Friday. T. Rowe Price Group, Inc. has a 1 year low of $87.43 and a 1 year high of $132.76. The company has a market cap of $25.85 billion, a P/E ratio of 13.75, a PEG ratio of 1.98 and a beta of 1.42. The stock’s fifty day moving average price is $115.18 and its 200-day moving average price is $113.04.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.34. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the prior year, the business earned $1.69 EPS. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. On average, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 8.84 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Friday, June 14th were given a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date was Friday, June 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 58.91%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. UBS Group upped their target price on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a research report on Friday, April 12th. Morgan Stanley raised their target price on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 17th. Citigroup boosted their price target on T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Keefe, Bruyette & Woods upgraded T. Rowe Price Group from an “underperform” rating to a “market perform” rating and upped their price target for the stock from $106.00 to $120.00 in a research note on Thursday, April 11th. Finally, JPMorgan Chase & Co. boosted their target price on T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. Four investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat, T. Rowe Price Group has a consensus rating of “Hold” and a consensus target price of $112.10.

Insiders Place Their Bets

In other news, insider Jessica M. Hiebler sold 1,401 shares of the firm’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total value of $162,305.85. Following the transaction, the insider now directly owns 14,198 shares in the company, valued at approximately $1,644,838.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, VP Dorothy C. Sawyer sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total transaction of $234,000.00. Following the completion of the sale, the vice president now directly owns 34,710 shares in the company, valued at $4,061,070. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jessica M. Hiebler sold 1,401 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $115.85, for a total transaction of $162,305.85. Following the sale, the insider now directly owns 14,198 shares of the company’s stock, valued at $1,644,838.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,444 shares of company stock valued at $740,408. Company insiders own 2.00% of the company’s stock.

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.