Mediolanum International Funds Ltd Has $7.73 Million Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Key Points

• Mediolanum International Funds Ltd significantly increased its stake in T. Rowe Price Group by 468.1%, acquiring a total of 84,425 shares valued at approximately $7.73 million.
• Several other institutional investors also adjusted their holdings, with 73.39% of the company's stock now owned by institutional investors and hedge funds.
• T. Rowe Price Group's recent earnings report showed $2.23 EPS, exceeding estimates, but a quarterly revenue of $1.76 billion fell short of analyst expectations.

Mediolanum International Funds Ltd boosted its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 468.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 84,425 shares of the asset manager's stock after buying an additional 69,565 shares during the period. Mediolanum International Funds Ltd's holdings in T. Rowe Price Group were worth $7,731,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Fayez Sarofim & Co lifted its holdings in T. Rowe Price Group by 7.6% in the fourth quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager's stock valued at $684,474,000 after buying an additional 425,142 shares during the period. Geode Capital Management LLC lifted its holdings in T. Rowe Price Group by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 5,631,429 shares of the asset manager's stock valued at $635,260,000 after buying an additional 116,231 shares during the period. Invesco Ltd. lifted its holdings in T. Rowe Price Group by 1.7% in the fourth quarter. Invesco Ltd. now owns 2,397,819 shares of the asset manager's stock valued at $271,169,000 after buying an additional 40,514 shares during the period. Northern Trust Corp raised its holdings in T. Rowe Price Group by 10.0% in the fourth quarter. Northern Trust Corp now owns 2,290,739 shares of the asset manager's stock worth $259,060,000 after purchasing an additional 208,304 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in T. Rowe Price Group by 28.2% in 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.

T. Rowe Price Group Trading Up 0.3%

Shares of TROW traded up $0.31 during midday trading on Wednesday, reaching $105.23. The stock had a trading volume of 338,188 shares, compared to its average volume of 1,816,150. The firm has a 50 day simple moving average of $97.86 and a 200-day simple moving average of $98.50. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $125.81. The firm has a market cap of $23.18 billion, a PE ratio of 11.92, a P/E/G ratio of 3.12 and a beta of 1.49.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The asset manager reported $2.23 EPS for the quarter, beating analysts' consensus estimates of $2.13 by $0.10. T. Rowe Price Group had a net margin of 28.38% and a return on equity of 20.17%. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter last year, the firm posted $2.38 EPS. The company's quarterly revenue was up .8% on a year-over-year basis. As a group, research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were paid a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date of this dividend was Friday, June 13th. T. Rowe Price Group's dividend payout ratio is presently 57.60%.

Wall Street Analyst Weigh In

Several research firms have weighed in on TROW. Bank of America cut their target price on shares of T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating on the stock in a report on Thursday, April 3rd. Cowen reiterated a "hold" rating on shares of T. Rowe Price Group in a report on Monday, May 5th. Barclays increased their target price on shares of T. Rowe Price Group from $90.00 to $91.00 and gave the stock an "underweight" rating in a report on Wednesday, July 16th. Citigroup lowered their price objective on shares of T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, Evercore ISI lowered their price objective on shares of T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating for the company in a research report on Friday, April 11th. Four analysts have rated the stock with a sell rating and nine have given a hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $96.64.

Insider Transactions at T. Rowe Price Group

In other news, VP Dorothy C. Sawyer sold 2,000 shares of the firm's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total transaction of $190,860.00. Following the completion of the sale, the vice president owned 44,789 shares in the company, valued at approximately $4,274,214.27. This trade represents a 4.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jessica M. Hiebler sold 968 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $96.98, for a total transaction of $93,876.64. Following the sale, the insider owned 13,611 shares of the company's stock, valued at approximately $1,319,994.78. This represents a 6.64% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.60% of the company's stock.

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.