Fideuram Intesa Sanpaolo Private Banking S.P.A. Cuts Stake in T. Rowe Price Group, Inc. $TROW

Fideuram Intesa Sanpaolo Private Banking S.P.A. reduced its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 35.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 37,451 shares of the asset manager’s stock after selling 20,519 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A.’s holdings in T. Rowe Price Group were worth $3,376,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in TROW. State Street Corp increased its stake in T. Rowe Price Group by 0.3% in the 4th quarter. State Street Corp now owns 14,159,797 shares of the asset manager’s stock worth $1,449,680,000 after acquiring an additional 45,530 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of T. Rowe Price Group by 332.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager’s stock worth $897,880,000 after purchasing an additional 6,740,172 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in T. Rowe Price Group by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,073,846 shares of the asset manager’s stock worth $826,600,000 after purchasing an additional 143,109 shares in the last quarter. Invesco Ltd. lifted its stake in shares of T. Rowe Price Group by 3.9% in the 4th quarter. Invesco Ltd. now owns 3,520,858 shares of the asset manager’s stock valued at $360,465,000 after purchasing an additional 131,438 shares during the period. Finally, Morgan Stanley lifted its holdings in shares of T. Rowe Price Group by 16.0% during the fourth quarter. Morgan Stanley now owns 3,443,322 shares of the asset manager’s stock valued at $352,528,000 after purchasing an additional 476,219 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW opened at $118.55 on Friday. T. Rowe Price Group, Inc. has a 12-month low of $85.22 and a 12-month high of $118.64. The firm’s 50-day moving average price is $105.76 and its 200-day moving average price is $100.36. The stock has a market capitalization of $25.40 billion, a price-to-earnings ratio of 12.71, a P/E/G ratio of 6.02 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 EPS for the quarter, topping the consensus estimate of $2.37 by $0.15. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.85 billion. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. T. Rowe Price Group’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.23 earnings per share. On average, equities analysts predict that T. Rowe Price Group, Inc. will post 9.69 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 15th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Monday, June 15th. T. Rowe Price Group’s payout ratio is presently 55.73%.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the company’s stock in a transaction on Wednesday, May 13th. The stock was 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 owned 83,883 shares in the company, valued at $8,603,040.48. This represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

TROW has been the subject of a number of research analyst reports. Evercore lifted their target price on T. Rowe Price Group from $106.00 to $111.00 in a report on Monday, June 8th. Barclays upped their price objective on T. Rowe Price Group from $87.00 to $89.00 and gave the company an “underweight” rating in a research report on Friday, May 1st. The Goldman Sachs Group raised their target price on T. Rowe Price Group from $90.00 to $92.00 and gave the stock a “sell” rating in a research report on Tuesday. Jefferies Financial Group cut their price target on T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating for the company in a research note on Wednesday, April 8th. Finally, Keefe, Bruyette & Woods upped their target price on shares of T. Rowe Price Group from $95.00 to $107.00 and gave the company a “market perform” rating in a report on Friday, May 1st. Eleven equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $100.54.

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.