Trade Report: The T. Rowe Price Group Inc. (TROW) Stake Decreased by Tokio Marine Asset Management Co. Ltd.

The T. Rowe Price Group Inc. (TROW) Stake Decreased by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. cut its position in T. Rowe Price Group Inc. (NASDAQ:TROW) by 9.3% during the second quarter, Holdings Channel reports. The firm owned 4,936 shares of the company’s stock after selling 507 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in T. Rowe Price Group were worth $360,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the company. Legal & General Group Plc boosted its position in shares of T. Rowe Price Group by 2.4% in the first quarter. Legal & General Group Plc now owns 1,050,614 shares of the company’s stock worth $77,179,000 after buying an additional 25,005 shares during the period. Pictet Asset Management Ltd. boosted its position in shares of T. Rowe Price Group by 2.6% in the first quarter. Pictet Asset Management Ltd. now owns 235,738 shares of the company’s stock worth $16,292,000 after buying an additional 5,900 shares during the period. First Manhattan Co. boosted its position in shares of T. Rowe Price Group by 219.9% in the second quarter. First Manhattan Co. now owns 110,673 shares of the company’s stock worth $8,075,000 after buying an additional 76,073 shares during the period. NN Investment Partners Holdings N.V. bought a new position in shares of T. Rowe Price Group during the first quarter worth approximately $1,563,000. Finally, FirstMerit Bank N A Trustee boosted its position in shares of T. Rowe Price Group by 0.8% in the second quarter. FirstMerit Bank N A Trustee now owns 5,950 shares of the company’s stock worth $434,000 after buying an additional 50 shares during the period. Hedge funds and other institutional investors own 69.64% of the company’s stock.

Shares of T. Rowe Price Group Inc. (NASDAQ:TROW) traded up 0.32% on Wednesday, reaching $66.16. The company had a trading volume of 2,173,450 shares. T. Rowe Price Group Inc. has a 12 month low of $63.57 and a 12 month high of $79.00. The firm’s 50 day moving average is $67.55 and its 200 day moving average is $71.85. The firm has a market capitalization of $16.44 billion, a PE ratio of 15.94 and a beta of 1.17.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.04. The company earned $1,000 million during the quarter, compared to analyst estimates of $1.03 billion. T. Rowe Price Group had a return on equity of 22.25% and a net margin of 25.77%. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.24 earnings per share. On average, equities research analysts expect that T. Rowe Price Group Inc. will post $4.24 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th were paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend was Tuesday, September 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is 52.17%.

A number of equities analysts have recently commented on TROW shares. Zacks Investment Research cut T. Rowe Price Group from a “hold” rating to a “sell” rating in a report on Tuesday, September 27th. Keefe, Bruyette & Woods decreased their price target on T. Rowe Price Group from $81.00 to $75.00 and set a “market perform” rating for the company in a research note on Wednesday, July 27th. Jefferies Group decreased their price target on T. Rowe Price Group from $83.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday. TheStreet lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. Finally, Citigroup Inc. decreased their price target on T. Rowe Price Group from $78.00 to $72.00 and set a “neutral” rating for the company in a research note on Wednesday, July 27th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. T. Rowe Price Group currently has an average rating of “Hold” and a consensus target price of $75.71.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services to individual and institutional investors in the sponsored T. Rowe Price mutual funds distributed in the United States and other investment portfolios. It operates through investment advisory business segment.

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