Fifth Third Bancorp Has $2.29 Million Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Fifth Third Bancorp cut its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 12.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,946 shares of the asset manager's stock after selling 3,454 shares during the period. Fifth Third Bancorp's holdings in T. Rowe Price Group were worth $2,292,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of T. Rowe Price Group during the 4th quarter valued at about $117,704,000. Marshall Wace LLP acquired a new stake in shares of T. Rowe Price Group during the 4th quarter valued at $63,284,000. Fayez Sarofim & Co boosted its stake in shares of T. Rowe Price Group by 7.6% during the 4th quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager's stock worth $684,474,000 after acquiring an additional 425,142 shares in the last quarter. Amundi grew its holdings in shares of T. Rowe Price Group by 30.1% in the 4th quarter. Amundi now owns 1,717,877 shares of the asset manager's stock worth $194,064,000 after acquiring an additional 397,278 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of T. Rowe Price Group by 28.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,762,910 shares of the asset manager's stock worth $199,367,000 after purchasing an additional 387,604 shares during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at T. Rowe Price Group

In other news, VP Dorothy C. Sawyer sold 2,000 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total value of $190,860.00. Following the sale, the vice president now owns 44,789 shares in the company, valued at approximately $4,274,214.27. The trade was a 4.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jessica M. Hiebler sold 968 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $96.98, for a total value of $93,876.64. Following the sale, the insider now owns 13,611 shares in the company, valued at $1,319,994.78. The trade was a 6.64% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,923 shares of company stock worth $646,856. 2.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on TROW shares. Bank of America dropped their price target on T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating on the stock in a research note on Thursday, April 3rd. Cowen restated a "hold" rating on shares of T. Rowe Price Group in a report on Monday, May 5th. TD Cowen dropped their price target on T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating on the stock in a research report on Wednesday, April 9th. JPMorgan Chase & Co. dropped their price objective on shares of T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 16th. Finally, Evercore ISI dropped their target price on T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating on the stock in a research report on Friday, April 11th. Four equities research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $94.09.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock traded up $1.93 on Monday, reaching $93.51. The stock had a trading volume of 263,870 shares, compared to its average volume of 1,504,996. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81. The business's 50-day moving average price is $91.66 and its two-hundred day moving average price is $102.29. The stock has a market cap of $20.60 billion, a P/E ratio of 10.21, a price-to-earnings-growth ratio of 2.86 and a beta of 1.49.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.10. T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the prior year, the company earned $2.38 EPS. The firm's revenue for the quarter was up .8% compared to the same quarter last year. As a group, equities analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a $1.27 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $5.08 annualized dividend and a yield of 5.43%. T. Rowe Price Group's dividend payout ratio is 57.60%.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.