108,681 Shares in T. Rowe Price Group, Inc. $TROW Acquired by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. acquired a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the second quarter, Holdings Channel.com reports. The fund acquired 108,681 shares of the asset manager’s stock, valued at approximately $12,356,000.

Several other large investors have also recently added to or reduced their stakes in TROW. Woodline Partners LP increased its stake in shares of T. Rowe Price Group by 41.0% in the first quarter. Woodline Partners LP now owns 18,809 shares of the asset manager’s stock worth $1,728,000 after acquiring an additional 5,467 shares during the last quarter. Focus Partners Wealth boosted its position in T. Rowe Price Group by 10.6% during the first quarter. Focus Partners Wealth now owns 13,054 shares of the asset manager’s stock valued at $1,199,000 after purchasing an additional 1,250 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in T. Rowe Price Group by 44.8% in the second quarter. EverSource Wealth Advisors LLC now owns 1,546 shares of the asset manager’s stock valued at $149,000 after purchasing an additional 478 shares in the last quarter. Jump Financial LLC purchased a new position in T. Rowe Price Group in the second quarter valued at about $931,000. Finally, Daiwa Securities Group Inc. increased its position in T. Rowe Price Group by 5.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 33,245 shares of the asset manager’s stock worth $3,208,000 after purchasing an additional 1,703 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Stock Performance

TROW opened at $111.51 on Monday. The firm has a market cap of $23.79 billion, a P/E ratio of 11.18, a price-to-earnings-growth ratio of 3.70 and a beta of 1.47. The business has a 50 day moving average price of $113.94 and a 200 day moving average price of $102.84. T. Rowe Price Group, Inc. has a twelve month low of $85.22 and a twelve month high of $122.00.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.05. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.91%. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the prior year, the firm earned $2.24 EPS. T. Rowe Price Group’s quarterly revenue was up 10.7% compared to the same quarter last year. As a group, analysts anticipate that T. Rowe Price Group, Inc. will post 10.14 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend is Tuesday, September 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 52.16%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. TD Cowen raised their price target on T. Rowe Price Group from $107.00 to $108.00 and gave the stock a “hold” rating in a research note on Monday, August 3rd. The Goldman Sachs Group increased their price objective on T. Rowe Price Group from $90.00 to $92.00 and gave the stock a “sell” rating in a report on Tuesday, June 30th. BMO Capital Markets boosted their target price on shares of T. Rowe Price Group from $110.00 to $120.00 and gave the stock a “market perform” rating in a research report on Monday, August 3rd. Evercore set a $118.00 price target on shares of T. Rowe Price Group in a research note on Monday, August 10th. Finally, Zacks Research lowered shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 13th. Ten investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, T. Rowe Price Group currently has a consensus rating of “Reduce” and an average target price of $105.67.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.