Generali Asset Management SPA SGR Purchases New Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Generali Asset Management SPA SGR acquired a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 28,944 shares of the asset manager’s stock, valued at approximately $3,273,000.

Several other large investors have also recently bought and sold shares of TROW. Amundi increased its holdings in shares of T. Rowe Price Group by 30.1% in the 4th quarter. Amundi now owns 1,717,877 shares of the asset manager’s stock valued at $194,064,000 after purchasing an additional 397,278 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in T. Rowe Price Group by 5.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager’s stock valued at $812,798,000 after buying an additional 346,369 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of T. Rowe Price Group by 382.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 398,175 shares of the asset manager’s stock valued at $43,373,000 after acquiring an additional 315,581 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of T. Rowe Price Group during the 4th quarter worth approximately $32,332,000. Finally, Provident Trust Co. grew its holdings in shares of T. Rowe Price Group by 8.9% in the 4th quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager’s stock worth $295,311,000 after acquiring an additional 213,566 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Trading Up 0.5 %

T. Rowe Price Group stock opened at $94.05 on Thursday. The stock has a fifty day moving average price of $107.10 and a 200 day moving average price of $111.36. T. Rowe Price Group, Inc. has a 52 week low of $91.37 and a 52 week high of $125.81. The firm has a market capitalization of $20.94 billion, a P/E ratio of 10.27, a PEG ratio of 2.86 and a beta of 1.46.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. During the same period last year, the business earned $1.72 earnings per share. As a group, equities analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a $1.27 dividend. The ex-dividend date is Friday, March 14th. This represents a $5.08 annualized dividend and a dividend yield of 5.40%. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s dividend payout ratio is presently 55.46%.

Insider Activity

In other news, VP Arif Husain sold 4,112 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total value of $449,318.24. Following the completion of the sale, the vice president now owns 36,800 shares in the company, valued at approximately $4,021,136. This trade represents a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Barclays reduced their price objective on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Morgan Stanley cut their price target on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a research note on Monday, February 24th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $113.00 price objective (up from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Wells Fargo & Company cut their target price on shares of T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. Finally, StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat, T. Rowe Price Group currently has a consensus rating of “Hold” and an average price target of $114.09.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.