Dai Ichi Life Insurance Company Ltd Has $259,000 Position in T. Rowe Price Group, Inc. (TROW)

Dai Ichi Life Insurance Company Ltd cut its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 95.6% during the first quarter, Holdings Channel reports. The firm owned 3,799 shares of the asset manager’s stock after selling 82,591 shares during the period. Dai Ichi Life Insurance Company Ltd’s holdings in T. Rowe Price Group were worth $259,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of TROW. State Street Corp increased its position in shares of T. Rowe Price Group by 12.4% in the fourth quarter. State Street Corp now owns 14,733,079 shares of the asset manager’s stock valued at $1,108,811,000 after buying an additional 1,630,497 shares during the period. Norges Bank acquired a new position in shares of T. Rowe Price Group during the fourth quarter valued at $95,874,000. Scout Investments Inc. increased its position in shares of T. Rowe Price Group by 448.8% in the first quarter. Scout Investments Inc. now owns 1,212,919 shares of the asset manager’s stock valued at $89,101,000 after buying an additional 991,890 shares during the period. JPMorgan Chase & Co. increased its position in shares of T. Rowe Price Group by 6.7% in the first quarter. JPMorgan Chase & Co. now owns 11,600,022 shares of the asset manager’s stock valued at $790,542,000 after buying an additional 728,477 shares during the period. Finally, Asset Management One Co. Ltd. increased its position in shares of T. Rowe Price Group by 2,423.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 599,917 shares of the asset manager’s stock valued at $45,160,000 after buying an additional 576,146 shares during the period. Institutional investors own 71.24% of the company’s stock.

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

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) opened at 73.35 on Friday. The stock’s 50 day moving average price is $71.43 and its 200-day moving average price is $71.85. The firm has a market capitalization of $17.70 billion, a P/E ratio of 14.37 and a beta of 1.27. T. Rowe Price Group, Inc. has a 12-month low of $62.97 and a 12-month high of $78.95.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Tuesday, April 25th. The asset manager reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by $0.02. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.10 billion. T. Rowe Price Group had a net margin of 29.59% and a return on equity of 24.24%. The company’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period last year, the business earned $1.15 EPS. On average, equities analysts expect that T. Rowe Price Group, Inc. will post $5.17 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 29th. Stockholders of record on Thursday, June 15th will be issued a dividend of $0.57 per share. The ex-dividend date is Tuesday, June 13th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.11%. T. Rowe Price Group’s dividend payout ratio is currently 44.88%.

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Several research analysts have weighed in on TROW shares. TheStreet upgraded T. Rowe Price Group from a “c+” rating to a “b-” rating in a report on Friday, April 28th. Morgan Stanley reiterated an “underweight” rating and issued a $67.00 price target (up from $64.00) on shares of T. Rowe Price Group in a report on Friday, March 17th. Argus downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. Deutsche Bank AG reiterated a “hold” rating and issued a $71.00 price target (down from $74.00) on shares of T. Rowe Price Group in a report on Monday, May 1st. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $84.00 price target on shares of T. Rowe Price Group in a report on Monday, March 27th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $73.18.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.

Want to see what other hedge funds are holding TROW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for T. Rowe Price Group, Inc. (NASDAQ:TROW).

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