Sei Investments Co. Purchases 4,500 Shares of T. Rowe Price Group, Inc. $TROW

Key Points

• Sei Investments Co. increased its holdings in T. Rowe Price Group by 1.8%, purchasing an additional 4,500 shares, bringing its total ownership to 254,294 shares valued at approximately $23.36 million.
• T. Rowe Price Group reported earnings of $2.24 per share for the last quarter, exceeding expectations, but experienced a slight 0.6% decline in year-over-year revenue.
• The firm declared a quarterly dividend of $1.27, set to be paid on September 29th, with a current dividend yield of 4.6% and a payout ratio of 56.76%.

Sei Investments Co. raised its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 1.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 254,294 shares of the asset manager's stock after acquiring an additional 4,500 shares during the period. Sei Investments Co. owned about 0.12% of T. Rowe Price Group worth $23,362,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Zions Bancorporation National Association UT acquired a new position in shares of T. Rowe Price Group in the first quarter valued at approximately $27,000. Ameriflex Group Inc. acquired a new stake in shares of T. Rowe Price Group in the 4th quarter valued at about $42,000. Hexagon Capital Partners LLC lifted its holdings in shares of T. Rowe Price Group by 44.8% in the first quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager's stock valued at $34,000 after purchasing an additional 113 shares in the last quarter. Smallwood Wealth Investment Management LLC acquired a new position in shares of T. Rowe Price Group during the first quarter worth about $39,000. Finally, Chilton Capital Management LLC acquired a new stake in T. Rowe Price Group in the 1st quarter valued at approximately $41,000. 73.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on TROW shares. Keefe, Bruyette & Woods upped their price target on T. Rowe Price Group from $110.00 to $112.00 and gave the stock a "market perform" rating in a research report on Monday, August 4th. JPMorgan Chase & Co. lifted their price target on shares of T. Rowe Price Group from $98.00 to $102.00 and gave the company an "underweight" rating in a research note on Monday, August 4th. Morgan Stanley increased their price objective on shares of T. Rowe Price Group from $112.00 to $116.00 and gave the stock an "equal weight" rating in a research note on Monday, August 4th. Wells Fargo & Company lifted their target price on T. Rowe Price Group from $98.00 to $108.00 and gave the company an "equal weight" rating in a research report on Friday, July 11th. Finally, Evercore ISI raised their target price on shares of T. Rowe Price Group from $106.00 to $110.00 and gave the company an "in-line" rating in a research note on Monday, August 4th. Four investment analysts have rated the stock with a sell rating and nine have given a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $101.09.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW traded down $0.40 during trading hours on Monday, reaching $106.64. 919,405 shares of the stock were exchanged, compared to its average volume of 1,805,866. The firm has a market capitalization of $23.43 billion, a price-to-earnings ratio of 11.92, a P/E/G ratio of 2.91 and a beta of 1.47. The stock's fifty day simple moving average is $100.94 and its 200 day simple moving average is $97.68. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.09. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.72 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%. The company's revenue was down .6% on a year-over-year basis. During the same quarter last year, the firm earned $2.26 earnings per share. Research analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be given a $1.27 dividend. The ex-dividend date is Monday, September 15th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.8%. T. Rowe Price Group's dividend payout ratio (DPR) is presently 56.76%.

Insider Activity at T. Rowe Price Group

In other news, VP Dorothy C. Sawyer sold 2,000 shares of the company's stock in a transaction that occurred 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 completion of the sale, the vice president owned 44,789 shares of the company's stock, valued at approximately $4,274,214.27. This represents a 4.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.60% of the company's stock.

T. Rowe Price Group Company 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.