Nomura Asset Management Co. Ltd. Purchases 47,043 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Nomura Asset Management Co. Ltd. increased its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 15.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 344,889 shares of the asset manager’s stock after buying an additional 47,043 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in T. Rowe Price Group were worth $37,141,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. L. Roy Papp & Associates LLP boosted its holdings in shares of T. Rowe Price Group by 5.8% in the 4th quarter. L. Roy Papp & Associates LLP now owns 158,875 shares of the asset manager’s stock worth $17,109,000 after buying an additional 8,773 shares during the last quarter. Nordea Investment Management AB lifted its holdings in T. Rowe Price Group by 3.5% during the fourth quarter. Nordea Investment Management AB now owns 317,349 shares of the asset manager’s stock valued at $34,299,000 after purchasing an additional 10,680 shares during the last quarter. Vest Financial LLC lifted its holdings in T. Rowe Price Group by 48.8% during the fourth quarter. Vest Financial LLC now owns 280,552 shares of the asset manager’s stock valued at $30,213,000 after purchasing an additional 92,059 shares during the last quarter. Certuity LLC purchased a new stake in T. Rowe Price Group during the fourth quarter valued at about $228,000. Finally, Cullen Investment Group LTD. purchased a new stake in T. Rowe Price Group during the fourth quarter valued at about $953,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Robert F. Maclellan sold 3,043 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $113.08, for a total value of $344,102.44. Following the transaction, the director now directly owns 34,635 shares in the company, valued at $3,916,525.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 8,740 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the transaction, the director now directly owns 21,073 shares in the company, valued at $2,493,357.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert F. Maclellan sold 3,043 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $113.08, for a total transaction of $344,102.44. Following the transaction, the director now owns 34,635 shares in the company, valued at $3,916,525.80. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

T. Rowe Price Group Price Performance

Shares of TROW traded up $1.29 during midday trading on Friday, hitting $118.20. 795,117 shares of the company traded hands, compared to its average volume of 1,366,840. The stock has a 50-day moving average of $115.04 and a 200-day moving average of $109.59. The firm has a market cap of $26.39 billion, a P/E ratio of 14.04, a PEG ratio of 2.01 and a beta of 1.40. T. Rowe Price Group, Inc. has a one year low of $87.43 and a one year high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.34. The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.71 billion. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. T. Rowe Price Group’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.69 earnings per share. Sell-side analysts forecast that T. Rowe Price Group, Inc. will post 8.8 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Friday, June 14th will be given a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 4.20%. The ex-dividend date of this dividend is Friday, June 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is 58.91%.

Analyst Ratings Changes

Several equities research analysts have commented on TROW shares. Wells Fargo & Company upped their price objective on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a report on Friday, February 9th. JPMorgan Chase & Co. upped their price objective on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a report on Tuesday, April 16th. Morgan Stanley upped their price objective on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a report on Wednesday, April 17th. UBS Group upped their price objective on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a report on Friday, April 12th. Finally, Citigroup upped their price objective on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Four investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $112.10.

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.