Eurizon Capital SGR S.p.A. Invests $4.97 Million in T. Rowe Price Group, Inc. $TROW

Key Points

• Eurizon Capital SGR S.p.A. opened a new position in T. Rowe Price Group, buying 48,537 shares valued at about $4.97 million in the fourth quarter.
• T. Rowe Price reported Q1 earnings of $2.52 per share, beating analyst estimates, while revenue of $1.86 billion also slightly topped expectations and rose 5.3% year over year.
• The company declared a quarterly dividend of $1.30 per share, implying a 5.0% annualized yield; meanwhile, analysts remain cautious with an average rating of “Reduce” and a consensus target price of $99.54.

Eurizon Capital SGR S.p.A. bought a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 48,537 shares of the asset manager's stock, valued at approximately $4,974,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Northern Trust Corp lifted its position 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 worth $259,588,000 after purchasing an additional 152,451 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of T. Rowe Price Group by 3.2% in 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 acquiring an additional 64,791 shares in the last quarter. Caisse de depot et placement du Quebec raised its holdings in shares of 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 valued at $134,142,000 after acquiring an additional 584,949 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of 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 valued at $89,614,000 after acquiring an additional 45,845 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in shares of 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 valued at $78,794,000 after acquiring an additional 152,318 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Stephon A. Jackson sold 3,000 shares of the company's stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total transaction of $307,680.00. Following the transaction, the vice president owned 83,883 shares in the company, valued at $8,603,040.48. This represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.60% of the stock is currently owned by company insiders.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock opened at $103.92 on Tuesday. The company has a market capitalization of $22.27 billion, a PE ratio of 11.14, a P/E/G ratio of 5.35 and a beta of 1.50. The company has a 50-day simple moving average of $97.69 and a two-hundred day simple moving average of $99.22. T. Rowe Price Group, Inc. has a one year low of $85.22 and a one year high of $118.22.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, topping analysts' consensus estimates of $2.37 by $0.15. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the previous year, the firm earned $2.23 earnings per share. The company's revenue was up 5.3% on a year-over-year basis. On average, equities analysts predict that T. Rowe Price Group, Inc. will post 9.63 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

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

Analyst Ratings Changes

Several analysts recently weighed in on TROW shares. Deutsche Bank Aktiengesellschaft decreased their price objective on T. Rowe Price Group from $106.00 to $100.00 and set a "hold" rating for the company in a report on Thursday, February 5th. JPMorgan Chase & Co. decreased their price objective on T. Rowe Price Group from $106.00 to $103.00 and set an "underweight" rating for the company in a report on Friday, April 24th. Morgan Stanley set a $105.00 price objective on T. Rowe Price Group in a report on Monday, April 27th. Jefferies Financial Group decreased their price objective on T. Rowe Price Group from $107.00 to $91.00 and set a "hold" rating for the company in a report on Wednesday, April 8th. Finally, Argus upgraded T. Rowe Price Group to a "hold" rating in a report on Thursday, February 5th. Eleven analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Reduce" and an average target price of $99.54.

About T. Rowe Price Group

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.

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