T. Rowe Price Group, Inc. $TROW Shares Bought by Generali Asset Management SPA SGR

Key Points

• Generali Asset Management SPA SGR dramatically increased its stake in T. Rowe Price Group during the fourth quarter, boosting holdings by 1,680.4% to 17,715 shares valued at about $1.81 million.
• Several other institutional investors also added to TROW, and hedge funds and other institutions now own 73.39% of the company’s shares.
• T. Rowe Price Group beat quarterly expectations with $2.52 EPS on $1.86 billion in revenue, and it announced a quarterly dividend of $1.30 per share, implying a 4.9% annualized yield.

Generali Asset Management SPA SGR raised its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 1,680.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,715 shares of the asset manager's stock after purchasing an additional 16,720 shares during the quarter. Generali Asset Management SPA SGR's holdings in T. Rowe Price Group were worth $1,814,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in TROW. Woodline Partners LP raised its stake in shares of T. Rowe Price Group by 41.0% in the 1st quarter. Woodline Partners LP now owns 18,809 shares of the asset manager's stock valued at $1,728,000 after acquiring an additional 5,467 shares during the period. Focus Partners Wealth raised its stake in shares of T. Rowe Price Group by 10.6% in the 1st quarter. Focus Partners Wealth now owns 13,054 shares of the asset manager's stock valued at $1,199,000 after acquiring an additional 1,250 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of T. Rowe Price Group by 44.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,546 shares of the asset manager's stock valued at $149,000 after acquiring an additional 478 shares during the period. Jump Financial LLC purchased a new position in shares of T. Rowe Price Group in the 2nd quarter valued at $931,000. Finally, Daiwa Securities Group Inc. raised its stake in shares of T. Rowe Price Group by 5.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 33,245 shares of the asset manager's stock valued at $3,208,000 after acquiring an additional 1,703 shares during the period. Hedge funds and other institutional investors own 73.39% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on TROW shares. JPMorgan Chase & Co. cut their target price on shares of 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. Argus raised shares of T. Rowe Price Group to a "hold" rating in a research note on Thursday, February 5th. BMO Capital Markets raised their target price on shares of T. Rowe Price Group from $98.00 to $110.00 and gave the company a "market perform" rating in a research note on Monday, May 4th. Bank of America raised their price target on shares of T. Rowe Price Group from $85.00 to $86.00 in a report on Wednesday, January 14th. Finally, Evercore set a $104.00 price target on shares of T. Rowe Price Group in a report on Friday, May 1st. Ten research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, T. Rowe Price Group currently has a consensus rating of "Reduce" and an average target price of $99.54.

T. Rowe Price Group Price Performance

Shares of TROW stock opened at $105.33 on Friday. The firm has a market cap of $22.57 billion, a P/E ratio of 11.29, a P/E/G ratio of 4.61 and a beta of 1.51. T. Rowe Price Group, Inc. has a 1-year low of $85.22 and a 1-year high of $118.22. The firm has a fifty day moving average of $93.48 and a two-hundred day moving average of $99.20.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its 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. 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 net margin of 28.28% and a return on equity of 20.60%. The firm's revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.23 earnings per share. On average, sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.61 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm 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 dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend is Monday, June 15th. T. Rowe Price Group's dividend payout ratio is 55.73%.

T. Rowe Price Group 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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