Fideuram Asset Management Ireland dac Takes Position in T. Rowe Price Group, Inc. $TROW

Key Points

• Fideuram Asset Management Ireland dac opened a new position in T. Rowe Price Group during the fourth quarter, buying 49,898 shares valued at about $5.18 million.
• T. Rowe Price reported better-than-expected quarterly earnings, posting $2.52 per share versus estimates of $2.37, with revenue of $1.86 billion slightly ahead of forecasts.
• The company announced a quarterly dividend of $1.30 per share, which annualizes to $5.20 and yields about 5.0%; meanwhile, analysts remain cautious with a consensus rating of “Reduce”.

Fideuram Asset Management Ireland dac bought a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 49,898 shares of the asset manager's stock, valued at approximately $5,181,000.

Other hedge funds have also recently made changes to their positions in the company. TD Private Client Wealth LLC increased its stake in shares of T. Rowe Price Group by 91.8% during the fourth quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager's stock valued at $26,000 after buying an additional 123 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of T. Rowe Price Group by 540.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager's stock valued at $29,000 after buying an additional 238 shares during the period. Canton Hathaway LLC purchased a new position in shares of T. Rowe Price Group during the fourth quarter valued at approximately $31,000. Sound Income Strategies LLC increased its stake in shares of T. Rowe Price Group by 170.3% during the fourth quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager's stock valued at $32,000 after buying an additional 189 shares during the period. Finally, TD Waterhouse Canada Inc. increased its stake in shares of T. Rowe Price Group by 92.0% during the fourth quarter. TD Waterhouse Canada Inc. now owns 386 shares of the asset manager's stock valued at $40,000 after buying an additional 185 shares during the period. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Down 0.9%

Shares of TROW stock opened at $103.55 on Friday. The stock has a market cap of $22.19 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 5.35 and a beta of 1.51. The business's fifty day moving average is $97.01 and its 200 day moving average is $99.21. T. Rowe Price Group, Inc. has a twelve month low of $85.22 and a twelve month 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 the consensus estimate of $2.37 by $0.15. The company 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 firm'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 earnings per share. Equities research analysts expect 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 announced a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Monday, June 15th. T. Rowe Price Group's payout ratio is 55.73%.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the business's stock in a transaction 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 sale, the vice president directly owned 83,883 shares of the company's stock, valued at approximately $8,603,040.48. The trade was a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.60% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TROW. Jefferies Financial Group reduced their target price on T. Rowe Price Group from $107.00 to $91.00 and set a "hold" rating on the stock in a research note on Wednesday, April 8th. TD Cowen boosted their target price on T. Rowe Price Group from $93.00 to $94.00 and gave the company a "hold" rating in a research note on Friday, May 1st. Weiss Ratings reissued a "hold (c)" rating on shares of T. Rowe Price Group in a research note on Friday, May 8th. The Goldman Sachs Group boosted their target price on T. Rowe Price Group from $85.00 to $90.00 in a research note on Friday, May 1st. Finally, JPMorgan Chase & Co. reduced their price target on T. Rowe Price Group from $106.00 to $103.00 and set an "underweight" rating on the stock in a research note on Friday, April 24th. Eleven investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Reduce" and a consensus 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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