Sei Investments Co. Grows Stock Position in T. Rowe Price Group, Inc. $TROW

Key Points

• Sei Investments Co. more than doubled its T. Rowe Price stake in the first quarter, increasing holdings by 116.5% to 187,440 shares valued at approximately $16.9 million. Institutional investors collectively own 73.39% of the stock.
• T. Rowe Price reported quarterly EPS of $2.52, beating estimates of $2.37, while revenue rose 5.3% year over year to $1.86 billion. The company pays a quarterly dividend of $1.30 per share, representing a 4.4% annualized yield.
• Analyst sentiment remains cautious, with an average rating of “Reduce” and a consensus price target of $105.08, below the stock’s reported price of $118.87.

Sei Investments Co. increased its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 116.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 187,440 shares of the asset manager's stock after buying an additional 100,851 shares during the quarter. Sei Investments Co. owned about 0.09% of T. Rowe Price Group worth $16,892,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Keynote Financial Services LLC raised its position in T. Rowe Price Group by 11.2% in the 1st quarter. Keynote Financial Services LLC now owns 3,575 shares of the asset manager's stock worth $322,000 after purchasing an additional 361 shares during the period. Lido Advisors LLC grew its stake in shares of T. Rowe Price Group by 19.8% during the first quarter. Lido Advisors LLC now owns 6,860 shares of the asset manager's stock valued at $619,000 after buying an additional 1,136 shares during the last quarter. Cetera Investment Advisers raised its holdings in shares of T. Rowe Price Group by 15.4% in the first quarter. Cetera Investment Advisers now owns 61,369 shares of the asset manager's stock worth $5,532,000 after buying an additional 8,167 shares during the period. Arvest Bank Trust Division lifted its stake in shares of T. Rowe Price Group by 3.2% during the 1st quarter. Arvest Bank Trust Division now owns 12,499 shares of the asset manager's stock worth $1,127,000 after acquiring an additional 385 shares during the last quarter. Finally, First Citizens Bank & Trust Co. increased its stake in T. Rowe Price Group by 0.8% in the first quarter. First Citizens Bank & Trust Co. now owns 177,841 shares of the asset manager's stock worth $16,031,000 after purchasing an additional 1,422 shares during the period. 73.39% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the company's stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total transaction of $307,680.00. Following the completion of the sale, the vice president owned 83,883 shares in the company, valued at $8,603,040.48. This represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on TROW shares. Evercore set a $121.00 target price on shares of T. Rowe Price Group in a research note on Friday, July 10th. Keefe, Bruyette & Woods lifted their price objective on shares of T. Rowe Price Group from $107.00 to $120.00 and gave the company a "market perform" rating in a report on Friday, July 10th. Barclays boosted their price objective on shares of T. Rowe Price Group from $89.00 to $108.00 and gave the company an "underweight" rating in a research report on Tuesday, July 14th. The Goldman Sachs Group upped their target price on shares of T. Rowe Price Group from $90.00 to $92.00 and gave the stock a "sell" rating in a research note on Tuesday, June 30th. Finally, JPMorgan Chase & Co. reduced their target price on shares of T. Rowe Price Group from $106.00 to $103.00 and set an "underweight" rating on the stock in a research report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, T. Rowe Price Group presently has an average rating of "Reduce" and an average price target of $105.08.

T. Rowe Price Group Price Performance

NASDAQ:TROW opened at $118.87 on Thursday. T. Rowe Price Group, Inc. has a 1-year low of $85.22 and a 1-year high of $122.00. The company has a 50-day moving average of $111.26 and a 200 day moving average of $101.99. The firm has a market cap of $25.47 billion, a PE ratio of 12.74, a price-to-earnings-growth ratio of 4.36 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its earnings results on Thursday, April 30th. The asset manager reported $2.52 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 the consensus estimate of $1.85 billion. During the same quarter last year, the firm posted $2.23 EPS. The company's revenue for the quarter was up 5.3% on a year-over-year basis. Sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 10.12 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

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

T. Rowe Price Group Profile

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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