T. Rowe Price Group, Inc. (NASDAQ:TROW) Stake Cut by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 36.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,881 shares of the asset manager’s stock after selling 32,780 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in T. Rowe Price Group were worth $6,433,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Glenview Trust co lifted its stake in T. Rowe Price Group by 2.2% in the 4th quarter. Glenview Trust co now owns 4,318 shares of the asset manager’s stock worth $488,000 after acquiring an additional 92 shares in the last quarter. MCF Advisors LLC lifted its stake in T. Rowe Price Group by 1.5% in the 4th quarter. MCF Advisors LLC now owns 6,226 shares of the asset manager’s stock worth $704,000 after acquiring an additional 93 shares in the last quarter. Addison Advisors LLC lifted its stake in T. Rowe Price Group by 67.4% in the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock worth $26,000 after acquiring an additional 93 shares in the last quarter. Brooklyn Investment Group lifted its stake in T. Rowe Price Group by 24.6% in the 4th quarter. Brooklyn Investment Group now owns 497 shares of the asset manager’s stock worth $56,000 after acquiring an additional 98 shares in the last quarter. Finally, Advantage Trust Co lifted its stake in T. Rowe Price Group by 48.8% in the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock worth $34,000 after acquiring an additional 100 shares in the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Up 0.4%

Shares of NASDAQ TROW opened at $98.06 on Friday. The business’s 50 day moving average is $90.46 and its two-hundred day moving average is $105.75. The company has a market cap of $21.60 billion, a P/E ratio of 10.71, a P/E/G ratio of 2.86 and a beta of 1.50. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, May 2nd. The asset manager reported $2.23 EPS for the quarter, topping the consensus estimate of $2.13 by $0.10. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.80 billion. T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the business posted $2.38 EPS. Sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be issued a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 5.18%. The ex-dividend date is Friday, June 13th. T. Rowe Price Group’s payout ratio is presently 57.60%.

Insider Transactions at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 968 shares of T. Rowe Price Group stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $96.98, for a total transaction of $93,876.64. Following the sale, the insider now owns 13,611 shares of the company’s stock, valued at approximately $1,319,994.78. This trade represents a 6.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert F. Maclellan sold 3,955 shares of T. Rowe Price Group stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $91.56, for a total value of $362,119.80. Following the sale, the director now directly owns 42,979 shares in the company, valued at $3,935,157.24. The trade was a 8.43% decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

Analysts Set New Price Targets

TROW has been the subject of a number of recent research reports. Morgan Stanley raised their price target on T. Rowe Price Group from $94.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 6th. Evercore ISI cut their price target on T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating for the company in a research note on Friday, April 11th. JPMorgan Chase & Co. cut their price target on T. Rowe Price Group from $110.00 to $90.00 and set an “underweight” rating for the company in a research note on Wednesday, April 16th. Cowen reaffirmed a “hold” rating on shares of T. Rowe Price Group in a research note on Monday, May 5th. Finally, The Goldman Sachs Group cut their price target on T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating for the company in a research note on Monday, April 14th. Four analysts have rated the stock with a sell rating and nine have given a hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $94.09.

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.