Generali Asset Management SPA SGR Sells 9,240 Shares of T. Rowe Price Group, Inc. $TROW

Generali Asset Management SPA SGR decreased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 90.3% during the third quarter, Holdings Channel.com reports. The firm owned 995 shares of the asset manager’s stock after selling 9,240 shares during the period. Generali Asset Management SPA SGR’s holdings in T. Rowe Price Group were worth $102,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Candriam S.C.A. boosted its stake in shares of T. Rowe Price Group by 20.4% during the 2nd quarter. Candriam S.C.A. now owns 30,931 shares of the asset manager’s stock worth $2,985,000 after purchasing an additional 5,236 shares during the period. Amundi lifted its stake in T. Rowe Price Group by 16.9% in the second quarter. Amundi now owns 1,607,616 shares of the asset manager’s stock worth $153,714,000 after purchasing an additional 232,361 shares during the last quarter. Confluence Investment Management LLC boosted its position in shares of T. Rowe Price Group by 2.7% during the third quarter. Confluence Investment Management LLC now owns 973,769 shares of the asset manager’s stock valued at $99,948,000 after buying an additional 25,316 shares during the period. OLD National Bancorp IN raised its holdings in shares of T. Rowe Price Group by 16.2% in the third quarter. OLD National Bancorp IN now owns 75,040 shares of the asset manager’s stock worth $7,702,000 after buying an additional 10,463 shares during the period. Finally, Patton Fund Management Inc. bought a new stake in shares of T. Rowe Price Group during the 2nd quarter worth approximately $240,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Weiss Ratings restated a “hold (c+)” rating on shares of T. Rowe Price Group in a report on Monday, December 29th. Evercore ISI cut their price target on shares of T. Rowe Price Group from $118.00 to $115.00 and set an “in-line” rating on the stock in a report on Friday, December 5th. Keefe, Bruyette & Woods decreased their price objective on shares of T. Rowe Price Group from $117.00 to $115.00 and set a “market perform” rating for the company in a report on Tuesday, December 16th. Morgan Stanley upped their target price on shares of T. Rowe Price Group from $126.00 to $128.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 17th. Finally, Barclays lifted their price target on shares of T. Rowe Price Group from $101.00 to $102.00 and gave the company an “underweight” rating in a research note on Friday, December 12th. Twelve analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $108.31.

T. Rowe Price Group Stock Performance

NASDAQ TROW opened at $106.49 on Tuesday. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $118.32. The company has a market capitalization of $23.24 billion, a price-to-earnings ratio of 11.60, a price-to-earnings-growth ratio of 2.65 and a beta of 1.52. The company’s 50-day simple moving average is $102.93 and its two-hundred day simple moving average is $103.69.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, October 31st. The asset manager reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.55 by $0.26. The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.88 billion. T. Rowe Price Group had a net margin of 28.89% and a return on equity of 19.95%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the firm earned $2.57 earnings per share. Equities analysts expect 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 business also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th were given a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend was Monday, December 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is 55.34%.

Insider Activity

In other news, VP Arif Husain sold 4,260 shares of the business’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $101.96, for a total value of $434,349.60. Following the completion of the transaction, the vice president directly owned 47,102 shares of the company’s stock, valued at approximately $4,802,519.92. The trade was a 8.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.00% of the company’s stock.

About T. Rowe Price Group

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.