Eurizon Capital SGR S.p.A. Buys New Holdings in T. Rowe Price Group, Inc. $TROW

Eurizon Capital SGR S.p.A. bought a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 48,537 shares of the asset manager’s stock, valued at approximately $4,974,000.

A number of other large investors have also recently bought and sold shares of TROW. Woodline Partners LP boosted its position in T. Rowe Price Group by 41.0% in the first quarter. Woodline Partners LP now owns 18,809 shares of the asset manager’s stock valued at $1,728,000 after buying an additional 5,467 shares during the last quarter. Focus Partners Wealth boosted its position in T. Rowe Price Group by 10.6% in the first quarter. Focus Partners Wealth now owns 13,054 shares of the asset manager’s stock valued at $1,199,000 after buying an additional 1,250 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in T. Rowe Price Group by 44.8% in the second quarter. EverSource Wealth Advisors LLC now owns 1,546 shares of the asset manager’s stock valued at $149,000 after buying an additional 478 shares during the last quarter. Jump Financial LLC purchased a new stake in T. Rowe Price Group in the second quarter valued at approximately $931,000. Finally, Daiwa Securities Group Inc. boosted its position in T. Rowe Price Group by 5.4% in the second quarter. Daiwa Securities Group Inc. now owns 33,245 shares of the asset manager’s stock valued at $3,208,000 after buying an additional 1,703 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Activity

In other news, VP Stephon A. Jackson sold 3,000 shares of the stock in a transaction that occurred 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 transaction, the vice president owned 83,883 shares in the company, valued at $8,603,040.48. This trade represents a 3.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.60% of the stock is owned by company insiders.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $103.92 on Tuesday. 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 market capitalization of $22.27 billion, a price-to-earnings ratio of 11.14, a price-to-earnings-growth ratio of 5.35 and a beta of 1.50. The business’s 50 day moving average price is $97.69 and its 200-day moving average price is $99.22.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.15. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter last year, the firm posted $2.23 EPS. The business’s revenue was up 5.3% on a year-over-year basis. On average, sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.63 earnings per share 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. Stockholders of record on Monday, June 15th will be given a dividend of $1.30 per share. The ex-dividend date is Monday, June 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.0%. T. Rowe Price Group’s dividend payout ratio (DPR) is 55.73%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Zacks Research upgraded T. Rowe Price Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 13th. Keefe, Bruyette & Woods upped their price objective on T. Rowe Price Group from $95.00 to $107.00 and gave the stock a “market perform” rating in a research report on Friday, May 1st. Deutsche Bank Aktiengesellschaft lowered their price objective on T. Rowe Price Group from $106.00 to $100.00 and set a “hold” rating on the stock in a research report on Thursday, February 5th. Argus upgraded T. Rowe Price Group to a “hold” rating in a research report on Thursday, February 5th. Finally, TD Cowen upped 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. Eleven research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $99.54.

T. Rowe Price Group Company 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.