Jefferies Financial Group Inc. Has $8.94 Million Stock Holdings in T. Rowe Price Group, Inc. $TROW

Key Points

• Jefferies Financial Group increased its stake in T. Rowe Price Group by 199.7% in the fourth quarter, ending with 87,344 shares valued at about $8.94 million.
• T. Rowe Price reported better-than-expected quarterly earnings of $2.52 per share on revenue of $1.86 billion, with revenue rising 5.3% year over year.
• The company declared a quarterly dividend of $1.30 per share, equal to a 5.0% yield, while analysts currently have an overall "Reduce" rating and average target price of $99.54.

Jefferies Financial Group Inc. raised its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 199.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 87,344 shares of the asset manager's stock after buying an additional 58,196 shares during the quarter. Jefferies Financial Group Inc.'s holdings in T. Rowe Price Group were worth $8,942,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Essex Bank increased its stake in T. Rowe Price Group by 3.6% in the 3rd quarter. Essex Bank now owns 2,914 shares of the asset manager's stock valued at $299,000 after buying an additional 100 shares during the period. PFG Investments LLC increased its stake in T. Rowe Price Group by 4.8% in the 3rd quarter. PFG Investments LLC now owns 2,249 shares of the asset manager's stock valued at $231,000 after buying an additional 102 shares during the period. GenTrust LLC increased its stake in T. Rowe Price Group by 5.5% in the 4th quarter. GenTrust LLC now owns 2,114 shares of the asset manager's stock valued at $216,000 after buying an additional 110 shares during the period. Fiduciary Trust Co increased its stake in T. Rowe Price Group by 4.5% in the 3rd quarter. Fiduciary Trust Co now owns 2,579 shares of the asset manager's stock valued at $265,000 after buying an additional 111 shares during the period. Finally, 1834 Investment Advisors Co. increased its stake in T. Rowe Price Group by 0.3% in the 4th quarter. 1834 Investment Advisors Co. now owns 37,490 shares of the asset manager's stock valued at $3,838,000 after buying an additional 115 shares during the period. Institutional investors and hedge funds own 73.39% of the company's stock.

T. Rowe Price Group Stock Performance

NASDAQ:TROW opened at $103.39 on Monday. T. Rowe Price Group, Inc. has a 1 year low of $85.22 and a 1 year high of $118.22. The firm's fifty day simple moving average is $95.75 and its 200 day simple moving average is $99.16. The firm has a market capitalization of $22.15 billion, a PE ratio of 11.08, a PEG ratio of 4.51 and a beta of 1.51.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same period last year, the business posted $2.23 EPS. T. Rowe Price Group's revenue was up 5.3% compared to the same quarter last year. As a group, analysts anticipate that T. Rowe Price Group, Inc. will post 9.63 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 5.0%. The ex-dividend date is Monday, June 15th. T. Rowe Price Group's dividend payout ratio (DPR) is currently 55.73%.

Wall Street Analysts Forecast Growth

TROW has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft dropped their price target on shares of T. Rowe Price Group from $106.00 to $100.00 and set a "hold" rating on the stock in a research note on Thursday, February 5th. Evercore decreased their price objective on shares of T. Rowe Price Group from $106.00 to $104.00 in a report on Monday, May 11th. The Goldman Sachs Group upped their price objective on shares of T. Rowe Price Group from $85.00 to $90.00 in a report on Friday, May 1st. Jefferies Financial Group decreased their price objective on shares of T. Rowe Price Group from $107.00 to $91.00 and set a "hold" rating for the company in a report on Wednesday, April 8th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of T. Rowe Price Group from $95.00 to $107.00 and gave the stock a "market perform" rating in a report on Friday, May 1st. Eleven analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Reduce" and an average target price of $99.54.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the firm's stock in a transaction 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.60% of the stock is owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.