Generali Asset Management SPA SGR Acquires Shares of 28,944 T. Rowe Price Group, Inc. (NASDAQ:TROW)

Generali Asset Management SPA SGR bought a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 28,944 shares of the asset manager's stock, valued at approximately $3,273,000.

Other hedge funds have also modified their holdings of the company. Atria Investments Inc boosted its position in T. Rowe Price Group by 7.0% in the 3rd quarter. Atria Investments Inc now owns 6,103 shares of the asset manager's stock valued at $665,000 after buying an additional 400 shares during the last quarter. Quest Partners LLC boosted its holdings in T. Rowe Price Group by 442,900.0% in the third quarter. Quest Partners LLC now owns 4,430 shares of the asset manager's stock valued at $483,000 after acquiring an additional 4,429 shares during the last quarter. LMR Partners LLP bought a new position in T. Rowe Price Group in the third quarter valued at about $249,000. Pathstone Holdings LLC increased its position in T. Rowe Price Group by 3.4% in the third quarter. Pathstone Holdings LLC now owns 27,535 shares of the asset manager's stock worth $2,999,000 after purchasing an additional 894 shares during the period. Finally, Meeder Asset Management Inc. raised its holdings in T. Rowe Price Group by 260.7% during the 3rd quarter. Meeder Asset Management Inc. now owns 9,227 shares of the asset manager's stock worth $1,005,000 after purchasing an additional 6,669 shares during the last quarter. 73.39% of the stock is owned by institutional investors.

Insider Transactions at T. Rowe Price Group

In related news, VP Arif Husain sold 4,112 shares of the company's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total transaction of $449,318.24. Following the sale, the vice president now owns 36,800 shares in the company, valued at approximately $4,021,136. This represents a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.00% of the company's stock.

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Wall Street Analysts Forecast Growth

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

T. Rowe Price Group Trading Up 3.4 %

Shares of TROW stock traded up $3.15 on Monday, hitting $95.98. 1,990,576 shares of the stock were exchanged, compared to its average volume of 1,297,703. The business has a 50-day moving average of $106.39 and a 200 day moving average of $111.23. T. Rowe Price Group, Inc. has a fifty-two week low of $91.37 and a fifty-two week high of $125.81. The firm has a market capitalization of $21.37 billion, a P/E ratio of 10.48, a price-to-earnings-growth ratio of 2.86 and a beta of 1.46.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 quarter last year, the company earned $1.72 earnings per share. As a group, research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a dividend of $1.27 per share. The ex-dividend date is Friday, March 14th. This is a boost from T. Rowe Price Group's previous quarterly dividend of $1.24. This represents a $5.08 annualized dividend and a yield of 5.29%. T. Rowe Price Group's payout ratio is 55.46%.

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.