T. Rowe Price Group, Inc. $TROW Shares Bought by Generali Asset Management SPA SGR

Generali Asset Management SPA SGR grew its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1,038.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,235 shares of the asset manager’s stock after buying an additional 9,336 shares during the period. Generali Asset Management SPA SGR’s holdings in T. Rowe Price Group were worth $988,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of T. Rowe Price Group by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 26,286,393 shares of the asset manager’s stock valued at $2,414,931,000 after buying an additional 222,556 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of T. Rowe Price Group by 7.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager’s stock valued at $707,973,000 after buying an additional 519,075 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of T. Rowe Price Group by 43.2% in the 1st quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager’s stock valued at $315,453,000 after buying an additional 1,035,865 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of T. Rowe Price Group by 4.9% in the 1st quarter. American Century Companies Inc. now owns 2,955,703 shares of the asset manager’s stock valued at $271,541,000 after buying an additional 138,515 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of T. Rowe Price Group by 3.6% in the 1st quarter. Northern Trust Corp now owns 2,374,063 shares of the asset manager’s stock valued at $218,105,000 after buying an additional 83,324 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Stock Performance

TROW stock opened at $103.70 on Friday. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $125.81. The stock has a market capitalization of $22.78 billion, a PE ratio of 11.59, a price-to-earnings-growth ratio of 5.66 and a beta of 1.50. The company has a fifty day moving average of $105.78 and a 200-day moving average of $98.84.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, topping the consensus estimate of $2.15 by $0.09. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter last year, the business earned $2.26 EPS. The business’s revenue was down .6% on a year-over-year basis. Equities analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were paid a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 4.9%. The ex-dividend date was Monday, September 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is 56.76%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods upped their target price on shares of T. Rowe Price Group from $112.00 to $115.00 and gave the company a “hold” rating in a report on Monday, October 13th. TD Cowen increased their price target on shares of T. Rowe Price Group from $103.00 to $108.00 and gave the stock a “hold” rating in a research note on Wednesday, October 8th. Wells Fargo & Company increased their price target on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Friday, July 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of T. Rowe Price Group in a research note on Wednesday, October 8th. Finally, Bank of America increased their price target on shares of T. Rowe Price Group from $91.00 to $97.00 and gave the stock an “underperform” rating in a research note on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $106.92.

Insider Activity at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,090 shares of the firm’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $105.01, for a total value of $324,480.90. Following the completion of the sale, the director owned 47,335 shares in the company, valued at approximately $4,970,648.35. This trade represents a 6.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group 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.