Fideuram Intesa Sanpaolo Private Banking S.P.A. Acquires New Position in T. Rowe Price Group, Inc. $TROW

Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 57,970 shares of the asset manager’s stock, valued at approximately $5,935,000.

A number of other hedge funds have also recently added to or reduced their stakes in TROW. PFA Pension Forsikringsaktieselskab acquired a new position in shares of T. Rowe Price Group during the 4th quarter worth approximately $61,073,000. Caisse de depot et placement du Quebec raised its position in shares of T. Rowe Price Group by 81.0% during the 3rd quarter. Caisse de depot et placement du Quebec now owns 1,306,922 shares of the asset manager’s stock worth $134,142,000 after purchasing an additional 584,949 shares during the last quarter. Anchyra Partners LLC acquired a new position in shares of T. Rowe Price Group during the 4th quarter worth approximately $48,012,000. Marshall Wace LLP acquired a new position in shares of T. Rowe Price Group during the 3rd quarter worth approximately $34,034,000. Finally, Nordea Investment Management AB raised its position in shares of T. Rowe Price Group by 1,307.4% during the 4th quarter. Nordea Investment Management AB now owns 325,029 shares of the asset manager’s stock worth $33,377,000 after purchasing an additional 301,934 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Stock Performance

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

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.37 by $0.15. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.85 billion. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.T. Rowe Price Group’s revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.23 EPS. As a group, equities research analysts forecast that T. Rowe Price Group, Inc. will post 9.61 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Monday, June 15th. This represents a $5.20 annualized dividend and a yield of 5.1%. T. Rowe Price Group’s payout ratio is 55.73%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on TROW shares. Jefferies Financial Group cut their price objective on T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating for the company in a research report on Wednesday, April 8th. TD Cowen lifted their price objective on T. Rowe Price Group from $93.00 to $94.00 and gave the stock a “hold” rating in a research report on Friday, May 1st. Argus upgraded T. Rowe Price Group to a “hold” rating in a research report on Thursday, February 5th. Barclays lifted their price objective on T. Rowe Price Group from $87.00 to $89.00 and gave the stock an “underweight” rating in a research report on Friday, May 1st. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on T. Rowe Price Group from $106.00 to $100.00 and set a “hold” rating for the company in a research report on Thursday, February 5th. Eleven equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $99.54.

Insiders Place Their Bets

In other news, VP Stephon A. Jackson sold 3,000 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total transaction of $307,680.00. Following the completion of the sale, the vice president directly owned 83,883 shares of the company’s stock, valued at $8,603,040.48. The trade was a 3.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.60% of the company’s stock.

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.