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

Generali Asset Management SPA SGR reduced its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 90.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 995 shares of the asset manager’s stock after selling 9,240 shares during the quarter. Generali Asset Management SPA SGR’s holdings in T. Rowe Price Group were worth $102,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. TD Waterhouse Canada Inc. grew its position in T. Rowe Price Group by 66.7% during the second quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock valued at $25,000 after buying an additional 100 shares during the period. Vermillion & White Wealth Management Group LLC grew its position in shares of T. Rowe Price Group by 120.0% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock valued at $31,000 after acquiring an additional 174 shares during the period. Salomon & Ludwin LLC increased its stake in shares of T. Rowe Price Group by 84.3% in the 3rd quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager’s stock worth $33,000 after purchasing an additional 145 shares in the last quarter. Atlantic Union Bankshares Corp bought a new position in T. Rowe Price Group in the 2nd quarter worth $35,000. Finally, Curio Wealth LLC lifted its position in T. Rowe Price Group by 20,700.0% during the second quarter. Curio Wealth LLC now owns 416 shares of the asset manager’s stock valued at $40,000 after purchasing an additional 414 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

T. Rowe Price Group stock opened at $106.49 on Tuesday. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $118.32. The firm’s 50 day moving average price is $102.93 and its 200-day moving average price is $103.69. The stock has a market cap of $23.24 billion, a P/E ratio of 11.60, a PEG ratio of 2.65 and a beta of 1.52.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.26. The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.88 billion. T. Rowe Price Group had a net margin of 28.89% and a return on equity of 19.95%. T. Rowe Price Group’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the company posted $2.57 earnings per share. As a group, equities analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Monday, December 15th were given a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Monday, December 15th. T. Rowe Price Group’s payout ratio is currently 55.34%.

Wall Street Analysts Forecast Growth

TROW has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft reduced their price target on T. Rowe Price Group from $113.00 to $106.00 and set a “hold” rating for the company in a research report on Wednesday, December 17th. TD Cowen raised their target price on shares of T. Rowe Price Group from $108.00 to $112.00 and gave the stock a “hold” rating in a research note on Monday, November 3rd. Morgan Stanley upped their price target on shares of T. Rowe Price Group from $126.00 to $128.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 17th. Keefe, Bruyette & Woods reduced 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 research note on Tuesday, December 16th. Finally, Zacks Research cut shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Twelve research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $108.31.

Insider Activity at T. Rowe Price Group

In related news, VP Arif Husain sold 4,260 shares of the stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $101.96, for a total transaction 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. This represents a 8.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, 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.