Tokio Marine Asset Management Co. Ltd. Raises Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Posted by Defense World Staff on Apr 8th, 2023

Tokio Marine Asset Management Co. Ltd. raised its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW – Get Rating) by 7.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,607 shares of the asset manager’s stock after buying an additional 261 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in T. Rowe Price Group were worth $393,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Zullo Investment Group Inc. boosted its position in T. Rowe Price Group by 164.6% in the 3rd quarter. Zullo Investment Group Inc. now owns 254 shares of the asset manager’s stock valued at $27,000 after buying an additional 158 shares during the period. Oakworth Capital Inc. purchased a new stake in shares of T. Rowe Price Group during the 3rd quarter worth $28,000. Eisler Capital UK Ltd. purchased a new stake in shares of T. Rowe Price Group during the 3rd quarter worth $29,000. Asset Dedication LLC lifted its position in shares of T. Rowe Price Group by 173.8% during the 4th quarter. Asset Dedication LLC now owns 293 shares of the asset manager’s stock worth $32,000 after purchasing an additional 186 shares during the last quarter. Finally, Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new stake in shares of T. Rowe Price Group during the 4th quarter worth $32,000. Hedge funds and other institutional investors own 76.58% of the company’s stock.

Insider Activity

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $114.52, for a total transaction of $1,370,689.88. Following the sale, the vice president now owns 129,436 shares in the company, valued at $14,823,010.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $114.52, for a total value of $1,370,689.88. Following the transaction, the vice president now owns 129,436 shares in the company, valued at approximately $14,823,010.72. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Andrew C. Mccormick sold 14,154 shares of T. Rowe Price Group stock in a transaction on Friday, February 10th. The shares were sold at an average price of $116.73, for a total transaction of $1,652,196.42. Following the completion of the transaction, the vice president now owns 70,319 shares in the company, valued at approximately $8,208,336.87. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

TROW has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft reduced their price target on shares of T. Rowe Price Group from $121.00 to $113.00 and set a “hold” rating for the company in a research report on Friday, January 27th. Morgan Stanley reduced their price target on shares of T. Rowe Price Group from $108.00 to $102.00 and set an “equal weight” rating for the company in a research report on Monday, January 30th. JPMorgan Chase & Co. reduced their price target on shares of T. Rowe Price Group from $96.00 to $95.00 and set an “underweight” rating for the company in a research report on Friday, January 27th. BMO Capital Markets reduced their price target on shares of T. Rowe Price Group from $105.00 to $90.00 and set a “market perform” rating for the company in a research report on Friday, January 27th. Finally, Credit Suisse Group reduced their price target on shares of T. Rowe Price Group from $70.00 to $65.00 and set an “underperform” rating for the company in a research report on Friday, January 27th. Six analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $97.73.

T. Rowe Price Group Stock Down 0.3 %

Shares of T. Rowe Price Group stock opened at $109.22 on Friday. T. Rowe Price Group, Inc. has a 52-week low of $93.53 and a 52-week high of $148.95. The company’s 50-day simple moving average is $113.44 and its 200-day simple moving average is $113.32. The firm has a market cap of $24.52 billion, a price-to-earnings ratio of 16.33, a price-to-earnings-growth ratio of 2.73 and a beta of 1.30.

T. Rowe Price Group (NASDAQ:TROW – Get Rating) last issued its earnings results on Thursday, January 26th. The asset manager reported $1.74 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.02. T. Rowe Price Group had a net margin of 24.01% and a return on equity of 20.36%. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period in the prior year, the business posted $3.17 earnings per share. The firm’s revenue for the quarter was down 21.4% compared to the same quarter last year. Equities research analysts anticipate that T. Rowe Price Group, Inc. will post 6.69 EPS for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 30th. Stockholders of record on Wednesday, March 15th were given a $1.22 dividend. The ex-dividend date of this dividend was Tuesday, March 14th. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.20. This represents a $4.88 annualized dividend and a dividend yield of 4.47%. T. Rowe Price Group’s dividend payout ratio is currently 72.94%.

T. Rowe Price Group Company Profile

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T. Rowe Price Group, Inc engages in the provision of investment management services. The company was founded by Thomas Rowe Price Jr. in 1937 and is headquartered in Baltimore, MD.