Dai Ichi Life Insurance Company Ltd Grows Stock Holdings in T. Rowe Price Group Inc (NASDAQ:TROW)

Dai Ichi Life Insurance Company Ltd grew its holdings in T. Rowe Price Group Inc (NASDAQ:TROW) by 275.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,900 shares of the asset manager’s stock after purchasing an additional 8,000 shares during the quarter. Dai Ichi Life Insurance Company Ltd’s holdings in T. Rowe Price Group were worth $1,064,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TROW. Citizens Financial Group Inc RI lifted its stake in T. Rowe Price Group by 70.4% in the 4th quarter. Citizens Financial Group Inc RI now owns 230 shares of the asset manager’s stock worth $28,000 after purchasing an additional 95 shares in the last quarter. Shine Investment Advisory Services Inc. lifted its stake in T. Rowe Price Group by 248.4% in the 1st quarter. Shine Investment Advisory Services Inc. now owns 324 shares of the asset manager’s stock worth $32,000 after purchasing an additional 231 shares in the last quarter. Penserra Capital Management LLC lifted its stake in T. Rowe Price Group by 52.7% in the 4th quarter. Penserra Capital Management LLC now owns 252 shares of the asset manager’s stock worth $33,000 after purchasing an additional 87 shares in the last quarter. CNB Bank lifted its stake in T. Rowe Price Group by 302.7% in the 4th quarter. CNB Bank now owns 298 shares of the asset manager’s stock worth $36,000 after purchasing an additional 224 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd lifted its stake in T. Rowe Price Group by 36.3% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 398 shares of the asset manager’s stock worth $38,000 after purchasing an additional 106 shares in the last quarter. 71.82% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have recently commented on TROW. JPMorgan Chase & Co. lifted their price target on shares of T. Rowe Price Group from $101.00 to $110.00 and gave the company an “underweight” rating in a research report on Wednesday, April 29th. Barclays lifted their price target on shares of T. Rowe Price Group from $90.00 to $100.00 and gave the company an “underweight” rating in a research report on Wednesday, April 29th. Deutsche Bank lifted their price target on shares of T. Rowe Price Group from $110.00 to $115.00 and gave the company a “hold” rating in a research report on Friday, May 15th. BMO Capital Markets lifted their price target on shares of T. Rowe Price Group from $86.00 to $92.00 and gave the company a “market perform” rating in a research report on Wednesday, April 29th. Finally, Citigroup lifted their price target on shares of T. Rowe Price Group from $100.00 to $112.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $108.67.

T. Rowe Price Group stock opened at $114.65 on Friday. T. Rowe Price Group Inc has a fifty-two week low of $82.51 and a fifty-two week high of $139.82. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.55 and a current ratio of 4.55. The firm has a 50 day moving average price of $106.14 and a 200 day moving average price of $118.52. The company has a market capitalization of $26.13 billion, a PE ratio of 14.28, a price-to-earnings-growth ratio of 1.82 and a beta of 1.16.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Tuesday, April 28th. The asset manager reported $1.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.79 by $0.08. T. Rowe Price Group had a net margin of 33.86% and a return on equity of 29.22%. The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter last year, the firm earned $1.87 EPS. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, equities research analysts forecast that T. Rowe Price Group Inc will post 6.81 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a $0.90 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $3.60 annualized dividend and a dividend yield of 3.14%. T. Rowe Price Group’s dividend payout ratio (DPR) is 44.61%.

In other T. Rowe Price Group news, VP W. Sharps Robert sold 3,500 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $117.50, for a total value of $411,250.00. Following the completion of the transaction, the vice president now owns 476,176 shares in the company, valued at $55,950,680. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mary K. Bush sold 1,851 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $115.34, for a total transaction of $213,494.34. Following the completion of the transaction, the director now owns 15,955 shares of the company’s stock, valued at approximately $1,840,249.70. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

About T. Rowe Price Group

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.

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Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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