Jefferies Financial Group Inc. Increases Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Key Points

• Jefferies Financial Group Inc. significantly increased its stake in T. Rowe Price Group by 180.7% during the first quarter, acquiring 41,347 shares for a total holding worth approximately $5.9 million.
• Multiple institutional investors are actively adjusting their positions in T. Rowe Price Group, with 73.39% of the stock now owned by institutional investors.
• The latest earnings report revealed a net margin of 28.38% for T. Rowe Price Group, with a quarterly EPS of $2.24, surpassing analysts' estimates by $0.09.

Jefferies Financial Group Inc. grew its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 180.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 64,227 shares of the asset manager's stock after buying an additional 41,347 shares during the period. Jefferies Financial Group Inc.'s holdings in T. Rowe Price Group were worth $5,901,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in TROW. Seizert Capital Partners LLC boosted its holdings in shares of T. Rowe Price Group by 5.3% in the 1st quarter. Seizert Capital Partners LLC now owns 135,691 shares of the asset manager's stock worth $12,466,000 after acquiring an additional 6,807 shares in the last quarter. Arkadios Wealth Advisors bought a new position in T. Rowe Price Group in the first quarter valued at approximately $933,000. XTX Topco Ltd acquired a new stake in shares of T. Rowe Price Group in the 1st quarter valued at approximately $258,000. Banque Cantonale Vaudoise acquired a new position in T. Rowe Price Group during the first quarter worth $1,230,000. Finally, Federated Hermes Inc. raised its position in T. Rowe Price Group by 6.7% during the first quarter. Federated Hermes Inc. now owns 2,112 shares of the asset manager's stock worth $194,000 after acquiring an additional 133 shares in the last quarter. Institutional investors own 73.39% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Citigroup reduced their price objective on shares of T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. TD Cowen decreased their price target on T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating on the stock in a research report on Wednesday, April 9th. Evercore ISI increased their target price on shares of T. Rowe Price Group from $106.00 to $110.00 and gave the stock an "in-line" rating in a report on Monday. Morgan Stanley lifted their price target on shares of T. Rowe Price Group from $112.00 to $116.00 and gave the stock an "equal weight" rating in a report on Monday. Finally, Barclays upped their price objective on shares of T. Rowe Price Group from $91.00 to $95.00 and gave the company an "underweight" rating in a research note on Monday. Four investment analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $101.09.

T. Rowe Price Group Stock Up 2.8%

TROW stock traded up $2.88 during mid-day trading on Monday, hitting $105.94. The company had a trading volume of 1,916,391 shares, compared to its average volume of 1,867,500. The company has a 50-day moving average price of $98.38 and a 200 day moving average price of $98.22. The company has a market capitalization of $23.34 billion, a price-to-earnings ratio of 11.84, a P/E/G ratio of 3.03 and a beta of 1.47. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.09. T. Rowe Price Group had a return on equity of 19.84% and a net margin of 28.72%. The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the prior year, the business posted $2.26 earnings per share. The company's revenue for the quarter was down .6% on a year-over-year basis. As a group, analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were paid a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 4.8%. The ex-dividend date was Friday, June 13th. T. Rowe Price Group's dividend payout ratio (DPR) is 56.76%.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 968 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $96.98, for a total value of $93,876.64. Following the completion of the transaction, the insider directly owned 13,611 shares of the company's stock, valued at approximately $1,319,994.78. The trade was a 6.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Dorothy C. Sawyer sold 2,000 shares of the firm's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total transaction of $190,860.00. Following the sale, the vice president owned 44,789 shares in the company, valued at approximately $4,274,214.27. This represents a 4.27% decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

T. Rowe Price Group 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.