Jefferies Financial Group Inc. grew its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW – Free Report) by 199.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 87,344 shares of the asset manager’s stock after buying an additional 58,196 shares during the period. Jefferies Financial Group Inc.’s holdings in T. Rowe Price Group were worth $8,942,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Woodline Partners LP lifted its holdings in shares of T. Rowe Price Group by 41.0% during the 1st quarter. Woodline Partners LP now owns 18,809 shares of the asset manager’s stock worth $1,728,000 after acquiring an additional 5,467 shares during the period. Focus Partners Wealth lifted its holdings in shares of T. Rowe Price Group by 10.6% during the 1st quarter. Focus Partners Wealth now owns 13,054 shares of the asset manager’s stock worth $1,199,000 after acquiring an additional 1,250 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of T. Rowe Price Group by 44.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,546 shares of the asset manager’s stock worth $149,000 after acquiring an additional 478 shares during the period. Jump Financial LLC bought a new position in shares of T. Rowe Price Group during the 2nd quarter worth about $931,000. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of T. Rowe Price Group by 5.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 33,245 shares of the asset manager’s stock worth $3,208,000 after acquiring an additional 1,703 shares during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at T. Rowe Price Group
In related news, VP Stephon A. Jackson sold 3,000 shares of T. Rowe Price Group stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total transaction of $307,680.00. Following the completion of the transaction, the vice president directly owned 83,883 shares of the company’s stock, valued at $8,603,040.48. This trade represents a 3.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.60% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
Check Out Our Latest Stock Report on T. Rowe Price Group
T. Rowe Price Group Price Performance
Shares of TROW stock opened at $103.39 on Monday. T. Rowe Price Group, Inc. has a 12-month low of $85.22 and a 12-month high of $118.22. The company has a market capitalization of $22.15 billion, a P/E ratio of 11.08, a P/E/G ratio of 4.51 and a beta of 1.51. The firm has a 50-day moving average price of $95.75 and a 200 day moving average price of $99.16.
T. Rowe Price Group (NASDAQ:TROW – Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same period last year, the firm posted $2.23 EPS. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. As a group, research analysts expect that T. Rowe Price Group, Inc. will post 9.63 earnings per share for the current year.
T. Rowe Price Group Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Monday, June 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 55.73%.
T. Rowe Price Group Company 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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