T. Rowe Price Group, Inc. $TROW Holdings Raised by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd lifted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 25.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 134,357 shares of the asset manager’s stock after purchasing an additional 27,263 shares during the quarter. Mediolanum International Funds Ltd’s holdings in T. Rowe Price Group were worth $11,962,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund lifted its stake in T. Rowe Price Group by 0.4% during the first quarter. Oregon Public Employees Retirement Fund now owns 25,062 shares of the asset manager’s stock valued at $2,259,000 after buying an additional 100 shares in the last quarter. MTM Investment Management LLC increased its position in shares of T. Rowe Price Group by 3.5% in the fourth quarter. MTM Investment Management LLC now owns 3,167 shares of the asset manager’s stock worth $324,000 after acquiring an additional 107 shares in the last quarter. GenTrust LLC raised its holdings in shares of T. Rowe Price Group by 5.5% during the fourth quarter. GenTrust LLC now owns 2,114 shares of the asset manager’s stock valued at $216,000 after acquiring an additional 110 shares during the period. Fiduciary Trust Co raised its holdings in shares of T. Rowe Price Group by 4.5% during the third quarter. Fiduciary Trust Co now owns 2,579 shares of the asset manager’s stock valued at $265,000 after acquiring an additional 111 shares during the period. Finally, 1834 Investment Advisors Co. lifted its position in shares of T. Rowe Price Group by 0.3% in the 4th quarter. 1834 Investment Advisors Co. now owns 37,490 shares of the asset manager’s stock valued at $3,838,000 after acquiring an additional 115 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

TROW stock opened at $117.35 on Monday. The firm has a 50 day moving average of $108.85 and a two-hundred day moving average of $101.30. T. Rowe Price Group, Inc. has a 12 month low of $85.22 and a 12 month high of $121.17. The company has a market capitalization of $25.14 billion, a price-to-earnings ratio of 12.58, a P/E/G ratio of 4.23 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.37 by $0.15. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter last year, the firm earned $2.23 EPS. T. Rowe Price Group’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, research analysts expect that T. Rowe Price Group, Inc. will post 10.07 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.4%. The ex-dividend date was Monday, June 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is 55.73%.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total value of $307,680.00. Following the completion of the sale, the vice president owned 83,883 shares of the company’s stock, valued at $8,603,040.48. The trade was a 3.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on TROW shares. Jefferies Financial Group decreased their price objective on shares of 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. Morgan Stanley boosted their target price on shares of T. Rowe Price Group from $105.00 to $109.00 and gave the company an “equal weight” rating in a research note on Friday, June 26th. 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, June 30th. TD Cowen lifted their price target on T. Rowe Price Group from $93.00 to $94.00 and gave the company a “hold” rating in a report on Friday, May 1st. Finally, Barclays upped their price target on T. Rowe Price Group from $89.00 to $108.00 and gave the company an “underweight” rating in a research report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, T. Rowe Price Group has an average rating of “Reduce” and an average price target of $103.42.

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.