Fifth Third Bancorp Has $6.88 Million Stock Holdings in T. Rowe Price Group, Inc. $TROW

Fifth Third Bancorp boosted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROWFree Report) by 243.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm 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 filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in TROW. Goldman Sachs Group Inc. raised its holdings in shares of T. Rowe Price Group by 332.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager’s stock worth $897,880,000 after acquiring an additional 6,740,172 shares during the period. First Trust Advisors LP increased its holdings in T. Rowe Price Group by 126.5% during the 4th quarter. First Trust Advisors LP now owns 3,280,854 shares of the asset manager’s stock worth $335,894,000 after purchasing an additional 1,832,231 shares in the last quarter. Norges Bank bought a new position in shares of T. Rowe Price Group during the 4th quarter worth approximately $128,283,000. PFA Pension Forsikringsaktieselskab bought a new position in shares of T. Rowe Price Group in the 4th quarter valued at about $61,073,000. Finally, Caisse de depot et placement du Quebec increased its position in shares of T. Rowe Price Group by 81.0% during the 3rd quarter. Caisse de depot et placement du Quebec now owns 1,306,922 shares of the asset manager’s stock worth $134,142,000 after purchasing an additional 584,949 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Key Stories 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 Analyst Weigh In

Several equities research analysts have recently commented on the company. Evercore set a $121.00 price objective on T. Rowe Price Group in a report on Friday, July 10th. Weiss Ratings upgraded shares of T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 2nd. Zacks Research raised shares of T. Rowe Price Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 13th. Keefe, Bruyette & Woods boosted their price objective on shares of T. Rowe Price Group from $107.00 to $120.00 and gave the stock a “market perform” rating in a research note on Friday, July 10th. Finally, TD Cowen raised their target price on shares of T. Rowe Price Group from $93.00 to $94.00 and gave the company a “hold” rating in a research note on Friday, May 1st. Ten equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $103.42.

Check Out Our Latest Analysis on TROW

Insider Activity

In other news, VP Stephon A. Jackson sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total value of $307,680.00. Following the transaction, the vice president owned 83,883 shares of the company’s stock, valued at approximately $8,603,040.48. This represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Price Performance

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

T. Rowe Price Group (NASDAQ:TROWGet Free Report) last posted its earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.37 by $0.15. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.85 billion. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. T. Rowe Price Group’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the company posted $2.23 EPS. Analysts predict that T. Rowe Price Group, Inc. will post 10.07 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

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

T. Rowe Price Group Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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