Fifth Third Bancorp Purchases 54,130 Shares of T. Rowe Price Group, Inc. $TROW

Fifth Third Bancorp raised its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 243.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 76,319 shares of the asset manager’s stock after buying an additional 54,130 shares during the period. Fifth Third Bancorp’s holdings in T. Rowe Price Group were worth $6,879,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of TROW. Sequoia Financial Advisors LLC grew its position in T. Rowe Price Group by 23.8% during the 1st quarter. Sequoia Financial Advisors LLC now owns 9,054 shares of the asset manager’s stock worth $816,000 after acquiring an additional 1,741 shares during the last quarter. ARGA Investment Management LP boosted its stake in T. Rowe Price Group by 8.7% in the first quarter. ARGA Investment Management LP now owns 441,866 shares of the asset manager’s stock worth $39,830,000 after purchasing an additional 35,218 shares in the last quarter. Elevated Capital Advisors LLC boosted its stake in T. Rowe Price Group by 194.2% in the first quarter. Elevated Capital Advisors LLC now owns 19,938 shares of the asset manager’s stock worth $1,797,000 after purchasing an additional 13,161 shares in the last quarter. Kestra Advisory Services LLC grew its holdings in shares of T. Rowe Price Group by 10.5% during the first quarter. Kestra Advisory Services LLC now owns 46,786 shares of the asset manager’s stock worth $4,217,000 after purchasing an additional 4,448 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its stake in shares of T. Rowe Price Group by 0.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 25,062 shares of the asset manager’s stock valued at $2,259,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Key Headlines Impacting T. Rowe Price Group

Here are the key news stories impacting T. Rowe Price Group this week:

• Positive Sentiment: T. Rowe Price was added to multiple Zacks #1 (Strong Buy) lists on July 16, including momentum, value, and income screens, which can support bullish sentiment around the stock. Article Title
• Positive Sentiment: The company introduced an actively managed spot multi-token crypto ETF, signaling product innovation and a possible new growth avenue for assets and fee revenue. Article Title
• Positive Sentiment: Additional Zacks coverage also labeled TROW a strong buy for value and income investors, reinforcing the view that the shares may be attractively priced relative to fundamentals. Article Title
• Neutral Sentiment: Analysts and commentary continue to debate valuation after the AdvanCell deal, suggesting investors are still assessing whether the stock is fully valued at current levels. Article Title
• Negative Sentiment: Barclays reiterated a sell rating on T. Rowe Price, and recent commentary highlighted Q2 net outflows, which remain a concern for long-term asset growth and fee pressure. Article Title

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TROW. Jefferies Financial Group reduced their price target on shares of T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating on the stock in a research report on Wednesday, April 8th. Weiss Ratings upgraded shares of T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 2nd. Barclays increased their price target on shares of T. Rowe Price Group from $89.00 to $108.00 and gave the company an “underweight” rating in a research note on Tuesday. Evercore set a $121.00 price objective on shares of T. Rowe Price Group in a research report on Friday, July 10th. Finally, JPMorgan Chase & Co. reduced their price objective on T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating on the stock in a report on Friday, April 24th. Ten equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $103.42.

Insider Activity at T. Rowe Price Group

In related news, VP Stephon A. Jackson sold 3,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total value of $307,680.00. Following the sale, the vice president directly owned 83,883 shares in the company, valued at $8,603,040.48. This trade represents a 3.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.60% of the stock is currently owned by company insiders.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW opened at $118.87 on Friday. T. Rowe Price Group, Inc. has a fifty-two week low of $85.22 and a fifty-two week high of $121.17. The firm has a market capitalization of $25.47 billion, a P/E ratio of 12.74, a P/E/G ratio of 4.27 and a beta of 1.47. The company’s 50 day simple moving average is $108.61 and its 200 day simple moving average is $101.21.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Thursday, April 30th. The asset manager reported $2.52 EPS for the quarter, beating the consensus estimate of $2.37 by $0.15. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter in the previous year, the company posted $2.23 EPS. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. Sell-side analysts expect that T. Rowe Price Group, Inc. will post 10.07 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 15th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Monday, June 15th. T. Rowe Price Group’s payout ratio is presently 55.73%.

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.