278,348 Shares in T. Rowe Price Group, Inc. $TROW Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 278,348 shares of the asset manager’s stock, valued at approximately $28,962,000. Mirae Asset Global Investments Co. Ltd. owned approximately 0.13% of T. Rowe Price Group at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of T. Rowe Price Group in the second quarter valued at $2,728,119,000. State Street Corp boosted its stake in T. Rowe Price Group by 2.7% during the second quarter. State Street Corp now owns 14,653,478 shares of the asset manager’s stock worth $1,665,954,000 after buying an additional 381,183 shares in the last quarter. First Trust Advisors LP boosted its stake in T. Rowe Price Group by 12.6% during the first quarter. First Trust Advisors LP now owns 3,694,171 shares of the asset manager’s stock worth $332,993,000 after buying an additional 413,317 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in T. Rowe Price Group by 20.0% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,150,561 shares of the asset manager’s stock valued at $358,187,000 after buying an additional 524,544 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in T. Rowe Price Group by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,124,696 shares of the asset manager’s stock valued at $191,512,000 after buying an additional 37,642 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Joshua Nelson sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $111.82, for a total value of $1,118,200.00. Following the completion of the sale, the vice president owned 71,328 shares in the company, valued at approximately $7,975,896.96. This trade represents a 12.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.60% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of TROW stock opened at $105.85 on Tuesday. The stock’s fifty day simple moving average is $105.54 and its 200 day simple moving average is $103.71. T. Rowe Price Group, Inc. has a one year low of $85.22 and a one year high of $122.00. The firm has a market cap of $22.58 billion, a price-to-earnings ratio of 10.70, a P/E/G ratio of 3.04 and a beta of 1.45.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Thursday, October 29th. The asset manager reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.63 by $0.23. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.91%. The company had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter in the previous year, the company posted $2.81 earnings per share. T. Rowe Price Group’s quarterly revenue was up 5.9% compared to the same quarter last year. On average, research analysts anticipate that T. Rowe Price Group, Inc. will post 10.16 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th were issued a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $5.20 dividend on an annualized basis and a yield of 4.9%. T. Rowe Price Group’s dividend payout ratio is currently 52.58%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $113.00 price objective (up from $112.00) on shares of T. Rowe Price Group in a research note on Friday. UBS Group initiated coverage on shares of T. Rowe Price Group in a research report on Wednesday, October 7th. They set a “neutral” rating and a $107.00 target price on the stock. Morgan Stanley upped their target price on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the company an “equal weight” rating in a research note on Friday, October 23rd. Zacks Research cut shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 13th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $109.00 price target on shares of T. Rowe Price Group in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $102.83.

T. Rowe Price Group Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland. Founded in 1937 by Thomas Rowe Price Jr., the company provides investment strategies and advisory services to individual investors, retirement plans, financial intermediaries, institutions and other clients.

The company offers a range of actively managed and multi-asset investment products, including mutual funds, exchange-traded funds, separately managed accounts and other portfolio solutions.