Fideuram Intesa Sanpaolo Private Banking S.P.A. Makes New $5.94 Million Investment in T. Rowe Price Group, Inc. $TROW

Key Points

• Fideuram Intesa Sanpaolo Private Banking disclosed a new stake in T. Rowe Price Group, buying 57,970 shares worth about $5.94 million in the fourth quarter.
• T. Rowe Price recently reported better-than-expected quarterly earnings, with EPS of $2.52 versus estimates of $2.37 and revenue of $1.86 billion, up 5.3% year over year.
• The company announced a quarterly dividend of $1.30 per share, implying an annualized yield of about 5.1%, while analysts currently hold a consensus rating of “Reduce” on the stock.

Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 57,970 shares of the asset manager's stock, valued at approximately $5,935,000.

Several other institutional investors have also modified their holdings of TROW. Woodline Partners LP grew its holdings in T. Rowe Price Group by 41.0% during the 1st quarter. Woodline Partners LP now owns 18,809 shares of the asset manager's stock worth $1,728,000 after acquiring an additional 5,467 shares in the last quarter. Focus Partners Wealth grew its holdings in T. Rowe Price Group by 10.6% during the 1st quarter. Focus Partners Wealth now owns 13,054 shares of the asset manager's stock worth $1,199,000 after acquiring an additional 1,250 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in T. Rowe Price Group by 44.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,546 shares of the asset manager's stock worth $149,000 after acquiring an additional 478 shares in the last quarter. Jump Financial LLC acquired a new position in T. Rowe Price Group during the 2nd quarter worth approximately $931,000. Finally, Daiwa Securities Group Inc. grew its holdings in T. Rowe Price Group by 5.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 33,245 shares of the asset manager's stock worth $3,208,000 after acquiring an additional 1,703 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company's stock.

T. Rowe Price Group Price Performance

TROW stock opened at $101.72 on Wednesday. The company has a fifty day moving average price of $94.99 and a 200 day moving average price of $99.16. T. Rowe Price Group, Inc. has a 12 month low of $85.22 and a 12 month high of $118.22. The company has a market cap of $21.80 billion, a price-to-earnings ratio of 10.90, a price-to-earnings-growth ratio of 4.48 and a beta of 1.51.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share (EPS) 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 firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter last year, the company posted $2.23 earnings per share. The business's revenue was up 5.3% on a year-over-year basis. As a group, analysts anticipate that T. Rowe Price Group, Inc. will post 9.61 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.1%. T. Rowe Price Group's dividend payout ratio (DPR) is currently 55.73%.

Insider Activity

In related news, VP Stephon A. Jackson sold 3,000 shares of the firm's stock in a transaction dated Wednesday, May 13th. The stock was 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 of the company's stock, valued at $8,603,040.48. This trade represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on TROW shares. Argus raised T. Rowe Price Group to a "hold" rating in a report on Thursday, February 5th. TD Cowen increased their target price on T. Rowe Price Group from $93.00 to $94.00 and gave the company a "hold" rating in a report on Friday, May 1st. Jefferies Financial Group dropped their target price on T. Rowe Price Group from $107.00 to $91.00 and set a "hold" rating on the stock in a report on Wednesday, April 8th. The Goldman Sachs Group increased their target price on T. Rowe Price Group from $85.00 to $90.00 in a report on Friday, May 1st. Finally, Barclays increased their target price on T. Rowe Price Group from $87.00 to $89.00 and gave the company an "underweight" rating in a report on Friday, May 1st. Eleven investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus target price of $99.54.

T. Rowe Price Group Company 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.

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