Fideuram Asset Management Ireland dac Makes New Investment in T. Rowe Price Group, Inc. $TROW

Fideuram Asset Management Ireland dac purchased a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 49,898 shares of the asset manager’s stock, valued at approximately $5,181,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Northern Trust Corp lifted its holdings in shares of T. Rowe Price Group by 6.4% during the third quarter. Northern Trust Corp now owns 2,529,116 shares of the asset manager’s stock valued at $259,588,000 after purchasing an additional 152,451 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of T. Rowe Price Group by 3.2% during the third quarter. Dimensional Fund Advisors LP now owns 2,090,249 shares of the asset manager’s stock valued at $214,557,000 after purchasing an additional 64,791 shares in the last quarter. Caisse de depot et placement du Quebec boosted its position in T. Rowe Price Group by 81.0% in the third quarter. Caisse de depot et placement du Quebec now owns 1,306,922 shares of the asset manager’s stock worth $134,142,000 after purchasing an additional 584,949 shares during the last quarter. Ameriprise Financial Inc. boosted its position in T. Rowe Price Group by 5.5% in the third quarter. Ameriprise Financial Inc. now owns 873,092 shares of the asset manager’s stock worth $89,614,000 after purchasing an additional 45,845 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its position in T. Rowe Price Group by 24.8% in the third quarter. Allianz Asset Management GmbH now owns 767,672 shares of the asset manager’s stock worth $78,794,000 after purchasing an additional 152,318 shares during the last quarter. 73.39% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TROW. Evercore lowered their price objective on shares of T. Rowe Price Group from $106.00 to $104.00 in a research note on Monday, May 11th. Argus raised shares of T. Rowe Price Group to a “hold” rating in a report on Thursday, February 5th. The Goldman Sachs Group increased their price target on shares of T. Rowe Price Group from $85.00 to $90.00 in a research report on Friday, May 1st. TD Cowen boosted their price objective on shares of T. Rowe Price Group from $93.00 to $94.00 and gave the company a “hold” rating in a research report on Friday, May 1st. Finally, Barclays boosted their price objective on shares of T. Rowe Price Group from $87.00 to $89.00 and gave the company an “underweight” rating in a research report on Friday, May 1st. Eleven analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $99.54.

T. Rowe Price Group Price Performance

Shares of TROW opened at $103.55 on Friday. The stock has a market capitalization of $22.19 billion, a price-to-earnings ratio of 11.10, a price-to-earnings-growth ratio of 5.35 and a beta of 1.51. T. Rowe Price Group, Inc. has a 1 year low of $85.22 and a 1 year high of $118.22. The business’s 50 day simple moving average is $97.01 and its 200-day simple moving average is $99.21.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.15. The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.85 billion. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.23 EPS. On average, sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.63 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be issued a $1.30 dividend. The ex-dividend date is Monday, June 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.0%. T. Rowe Price Group’s payout ratio is 55.73%.

Insider Activity at T. Rowe Price Group

In other news, VP Stephon A. Jackson sold 3,000 shares of T. Rowe Price Group stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total value of $307,680.00. Following the completion of the transaction, the vice president owned 83,883 shares in the company, valued at approximately $8,603,040.48. The trade was a 3.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.60% of the company’s stock.

T. Rowe Price Group 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.