The Nomura Asset Management Co. Ltd. Purchases 700 Shares of T. Rowe Price Group Inc. (TROW)

The Nomura Asset Management Co. Ltd. Purchases 700 Shares of T. Rowe Price Group Inc. (TROW)

Nomura Asset Management Co. Ltd. increased its position in T. Rowe Price Group Inc. (NASDAQ:TROW) by 1.9% during the third quarter, Holdings Channel reports. The fund owned 37,718 shares of the company’s stock after buying an additional 700 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in T. Rowe Price Group were worth $2,508,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the company. ProShare Advisors LLC boosted its stake in T. Rowe Price Group by 24.5% in the third quarter. ProShare Advisors LLC now owns 745,923 shares of the company’s stock valued at $49,604,000 after buying an additional 146,707 shares in the last quarter. Profund Advisors LLC boosted its stake in T. Rowe Price Group by 4.0% in the third quarter. Profund Advisors LLC now owns 6,417 shares of the company’s stock valued at $427,000 after buying an additional 248 shares in the last quarter. Laurion Capital Management LP acquired a new stake in T. Rowe Price Group during the third quarter valued at about $838,000. Stephens Inc. AR boosted its stake in T. Rowe Price Group by 19.3% in the third quarter. Stephens Inc. AR now owns 55,773 shares of the company’s stock valued at $3,709,000 after buying an additional 9,017 shares in the last quarter. Finally, Morgan Stanley boosted its stake in T. Rowe Price Group by 51.9% in the third quarter. Morgan Stanley now owns 1,379,136 shares of the company’s stock valued at $91,713,000 after buying an additional 471,401 shares in the last quarter. Institutional investors and hedge funds own 69.78% of the company’s stock.

Shares of T. Rowe Price Group Inc. (NASDAQ:TROW) traded down 0.85% during midday trading on Thursday, hitting $72.67. The company had a trading volume of 1,346,987 shares. T. Rowe Price Group Inc. has a 12 month low of $62.97 and a 12 month high of $79.00. The company has a 50-day moving average of $75.69 and a 200-day moving average of $70.58. The company has a market capitalization of $17.69 billion, a PE ratio of 16.40 and a beta of 1.29.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Thursday, October 27th. The company reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.18 by $0.01. The company earned $1.10 billion during the quarter, compared to analysts’ expectations of $1.08 billion. T. Rowe Price Group had a net margin of 26.71% and a return on equity of 24.78%. T. Rowe Price Group’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter last year, the company earned $1.06 earnings per share. Analysts predict that T. Rowe Price Group Inc. will post $4.51 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 29th. Investors of record on Thursday, December 15th were issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date was Tuesday, December 13th. T. Rowe Price Group’s dividend payout ratio is presently 49.54%.

Several analysts recently issued reports on TROW shares. Argus increased their target price on T. Rowe Price Group from $83.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, December 7th. UBS AG upgraded T. Rowe Price Group from a “neutral” rating to a “buy” rating and increased their target price for the stock from $66.00 to $82.00 in a research report on Thursday, November 10th. Jefferies Group cut their target price on T. Rowe Price Group from $83.00 to $80.00 and set a “buy” rating for the company in a research report on Tuesday, October 11th. Zacks Investment Research upgraded T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Tuesday, October 25th. Finally, Barclays PLC cut their target price on T. Rowe Price Group from $72.00 to $68.00 and set an “equal weight” rating for the company in a research report on Thursday, October 13th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $75.08.

In other T. Rowe Price Group news, VP Christopher D. Alderson sold 133,244 shares of the company’s stock in a transaction on Tuesday, December 20th. The stock was sold at an average price of $77.67, for a total transaction of $10,349,061.48. Following the transaction, the vice president now directly owns 190,473 shares in the company, valued at $14,794,037.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Christopher D. Alderson sold 4,512 shares of the company’s stock in a transaction on Friday, December 9th. The stock was sold at an average price of $76.72, for a total value of $346,160.64. Following the transaction, the vice president now owns 111,707 shares in the company, valued at $8,570,161.04. The disclosure for this sale can be found here. Insiders sold 140,756 shares of company stock worth $10,923,582 over the last quarter. 3.60% of the stock is currently owned by insiders.

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.

Want to see what other hedge funds are holding TROW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for T. Rowe Price Group Inc. (NASDAQ:TROW).

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