Jefferies Financial Group Inc. Makes New $2.29 Million Investment in T. Rowe Price Group, Inc. $TROW

Key Points

• Jefferies Financial Group initiated a $2.29 million position in T. Rowe Price Group by purchasing 20,110 shares during the second quarter. Institutional investors and hedge funds collectively own 73.39% of the company.
• Analysts remain cautious, with ten issuing “Hold” ratings and four assigning “Sell” ratings; the stock has a consensus rating of “Reduce” and an average price target of $105.67.
• T. Rowe Price exceeded quarterly earnings and revenue expectations, reporting $2.57 in EPS and $1.91 billion in revenue. The company declared a $1.30 quarterly dividend, equivalent to a 4.7% annualized yield.

Jefferies Financial Group Inc. purchased a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 20,110 shares of the asset manager's stock, valued at approximately $2,286,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wealthcare Capital Partners LLC boosted its stake in T. Rowe Price Group by 1.0% in the second quarter. Wealthcare Capital Partners LLC now owns 9,565 shares of the asset manager's stock valued at $1,087,000 after acquiring an additional 93 shares during the period. Kesler Norman & Wride LLC raised its position in shares of T. Rowe Price Group by 0.6% during the 2nd quarter. Kesler Norman & Wride LLC now owns 15,914 shares of the asset manager's stock worth $1,809,000 after purchasing an additional 96 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of T. Rowe Price Group by 9.4% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,150 shares of the asset manager's stock worth $131,000 after purchasing an additional 99 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of T. Rowe Price Group by 0.4% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 25,062 shares of the asset manager's stock worth $2,259,000 after purchasing an additional 100 shares during the last quarter. Finally, Concorde Asset Management LLC boosted its position in T. Rowe Price Group by 3.9% during the 1st quarter. Concorde Asset Management LLC now owns 2,730 shares of the asset manager's stock valued at $246,000 after purchasing an additional 102 shares during the period. 73.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Barclays reduced their price target on shares of T. Rowe Price Group from $108.00 to $103.00 and set an "underweight" rating for the company in a report on Monday, August 3rd. BMO Capital Markets lifted their price objective on shares of T. Rowe Price Group from $110.00 to $120.00 and gave the company a "market perform" rating in a research report on Monday, August 3rd. TD Cowen boosted their target price on shares of T. Rowe Price Group from $107.00 to $108.00 and gave the company a "hold" rating in a research note on Monday, August 3rd. 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. Finally, The Goldman Sachs Group raised their price target on shares of T. Rowe Price Group from $90.00 to $92.00 and gave the company a "sell" rating in a research note on Tuesday, June 30th. Ten equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Reduce" and a consensus price target of $105.67.

Insider Activity

In other news, VP Joshua B. Nelson sold 10,000 shares of the business's stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $111.82, for a total value of $1,118,200.00. Following the sale, the vice president owned 71,328 shares of the company's stock, valued at approximately $7,975,896.96. The trade was a 12.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.60% of the company's stock.

T. Rowe Price Group Stock Down 1.0%

TROW stock opened at $111.24 on Friday. The company has a 50-day simple moving average of $114.35 and a 200 day simple moving average of $103.34. The company has a market capitalization of $23.73 billion, a P/E ratio of 11.16, a PEG ratio of 3.68 and a beta of 1.47. T. Rowe Price Group, Inc. has a fifty-two week low of $85.22 and a fifty-two week high of $122.00.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its earnings results on Friday, July 31st. The asset manager reported $2.57 EPS for the quarter, beating the consensus estimate of $2.52 by $0.05. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.91%. The firm had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $1.89 billion. During the same quarter last year, the company earned $2.24 EPS. T. Rowe Price Group's quarterly revenue was up 10.7% on a year-over-year basis. Equities analysts anticipate that T. Rowe Price Group, Inc. will post 10.15 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Tuesday, September 15th. T. Rowe Price Group's dividend payout ratio (DPR) is presently 52.16%.

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.

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