Nomura Holdings Inc. Purchases New Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Nomura Holdings Inc. acquired a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,413 shares of the asset manager’s stock, valued at approximately $691,000.

A number of other institutional investors also recently made changes to their positions in TROW. Creative Financial Designs Inc. ADV lifted its holdings in T. Rowe Price Group by 83.5% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock worth $25,000 after purchasing an additional 106 shares during the last quarter. First United Bank & Trust acquired a new stake in shares of T. Rowe Price Group during the fourth quarter worth $31,000. Park Place Capital Corp boosted its position in shares of T. Rowe Price Group by 1,775.0% in the fourth quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 284 shares during the period. Fortitude Family Office LLC acquired a new position in shares of T. Rowe Price Group in the fourth quarter valued at about $33,000. Finally, CVA Family Office LLC bought a new position in T. Rowe Price Group during the fourth quarter worth about $39,000. Institutional investors own 73.39% of the company’s stock.

Wall Street Analysts Forecast Growth

TROW has been the subject of a number of recent research reports. Morgan Stanley boosted 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. Keefe, Bruyette & Woods raised T. Rowe Price Group from an “underperform” rating to a “market perform” rating and increased their price target for the stock from $106.00 to $120.00 in a research report on Thursday, April 11th. UBS Group raised their price objective on T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a research note on Friday, April 12th. Evercore ISI cut their target price on T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating for the company in a research report on Tuesday, April 30th. Finally, JPMorgan Chase & Co. raised their price target on T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 16th. Four analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat.com, T. Rowe Price Group currently has a consensus rating of “Hold” and a consensus target price of $112.10.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock opened at $118.19 on Friday. T. Rowe Price Group, Inc. has a 52 week low of $87.43 and a 52 week high of $132.76. The stock has a market capitalization of $26.39 billion, a P/E ratio of 14.04, a price-to-earnings-growth ratio of 2.01 and a beta of 1.43. The stock has a fifty day moving average of $114.35 and a 200-day moving average of $112.05.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, topping the consensus estimate of $2.04 by $0.34. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.71 billion. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. The business’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.69 earnings per share. On average, research analysts forecast that T. Rowe Price Group, Inc. will post 8.84 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

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 paid a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.20%. The ex-dividend date is Friday, June 14th. T. Rowe Price Group’s payout ratio is 58.91%.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,043 shares of the business’s stock in a transaction 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 sale, the director now owns 34,635 shares of the company’s stock, valued at $3,916,525.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Robert F. Maclellan sold 3,043 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $113.08, for a total transaction of $344,102.44. Following the sale, 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 is accessible through the SEC website. Also, VP Dorothy C. Sawyer sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total value of $234,000.00. Following the completion of the transaction, the vice president now directly owns 34,710 shares of the company’s stock, valued at approximately $4,061,070. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

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.