Jefferies Financial Group Inc. Buys New Shares in T. Rowe Price Group, Inc. $TROW

Jefferies Financial Group Inc. bought a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the second quarter, Holdings Channel reports. The fund bought 20,110 shares of the asset manager’s stock, valued at approximately $2,286,000.

Other hedge funds have also recently added to or reduced their stakes in the company. TD Private Client Wealth LLC lifted its position in shares of T. Rowe Price Group by 91.8% during the 4th quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 123 shares during the last quarter. DV Equities LLC acquired a new position in shares of T. Rowe Price Group in the 4th quarter worth $32,000. Motiv8 Investments LLC acquired a new position in shares of T. Rowe Price Group in the 4th quarter worth $35,000. Bank & Trust Co raised its position in shares of T. Rowe Price Group by 52.4% during the second quarter. Bank & Trust Co now owns 314 shares of the asset manager’s stock worth $36,000 after purchasing an additional 108 shares during the period. Finally, Keating Financial Advisory Services Inc. purchased a new stake in shares of T. Rowe Price Group during the second quarter valued at $39,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Stock Down 1.0%

T. Rowe Price Group stock opened at $111.24 on Friday. T. Rowe Price Group, Inc. has a 12 month low of $85.22 and a 12 month high of $122.00. The stock has a market cap of $23.73 billion, a P/E ratio of 11.16, a P/E/G ratio of 3.68 and a beta of 1.47. The company’s fifty day simple moving average is $114.35 and its 200-day simple moving average is $103.34.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.52 by $0.05. The firm had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.89 billion. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.The business’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.24 earnings per share. On average, equities research analysts expect that T. Rowe Price Group, Inc. will post 10.15 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Tuesday, September 15th. T. Rowe Price Group’s payout ratio is presently 52.16%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on TROW shares. Barclays dropped their price target on T. Rowe Price Group from $108.00 to $103.00 and set an “underweight” rating on the stock in a research note on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $109.00 target price on shares of T. Rowe Price Group in a report on Monday, August 3rd. Weiss Ratings raised shares of T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 2nd. Zacks Research lowered T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 13th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $115.00 price target (down from $120.00) on shares of T. Rowe Price Group in a report on Monday, August 3rd. Ten analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $105.67.

Insider Activity

In other T. Rowe Price Group news, VP Joshua B. Nelson sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $111.82, for a total transaction of $1,118,200.00. Following the completion of the sale, the vice president directly owned 71,328 shares in the company, valued at $7,975,896.96. This represents a 12.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.60% of the company’s stock.

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.