Sei Investments Co. Purchases 100,851 Shares of T. Rowe Price Group, Inc. $TROW

Sei Investments Co. lifted its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 116.5% during the first quarter, Holdings Channel reports. The institutional investor owned 187,440 shares of the asset manager’s stock after buying an additional 100,851 shares during the quarter. Sei Investments Co.’s holdings in T. Rowe Price Group were worth $16,892,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Goldman Sachs Group Inc. boosted its stake in T. Rowe Price Group by 332.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager’s stock valued at $897,880,000 after acquiring an additional 6,740,172 shares in the last quarter. First Trust Advisors LP increased its position in shares of T. Rowe Price Group by 126.5% during the fourth quarter. First Trust Advisors LP now owns 3,280,854 shares of the asset manager’s stock worth $335,894,000 after purchasing an additional 1,832,231 shares in the last quarter. Norges Bank purchased a new stake in shares of T. Rowe Price Group during the 4th quarter valued at $128,283,000. PFA Pension Forsikringsaktieselskab acquired a new stake in shares of T. Rowe Price Group in the 4th quarter worth $61,073,000. Finally, Caisse de depot et placement du Quebec boosted its position in shares of T. Rowe Price Group by 81.0% in the 3rd quarter. Caisse de depot et placement du Quebec now owns 1,306,922 shares of the asset manager’s stock worth $134,142,000 after purchasing an additional 584,949 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

Insider Activity

In other news, VP Stephon A. Jackson sold 3,000 shares of the company’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total value of $307,680.00. Following 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Weiss Ratings raised T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 2nd. Jefferies Financial Group dropped their price target on T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating on the stock in a research note on Wednesday, April 8th. Morgan Stanley set a $116.00 price objective on shares of T. Rowe Price Group in a report on Wednesday. BMO Capital Markets increased their price objective on shares of T. Rowe Price Group from $98.00 to $110.00 and gave the company a “market perform” rating in a research report on Monday, May 4th. Finally, Barclays lifted their target price on shares of T. Rowe Price Group from $89.00 to $108.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $105.08.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock opened at $118.87 on Thursday. The firm has a fifty day moving average price of $111.26 and a 200 day moving average price of $101.99. T. Rowe Price Group, Inc. has a 1 year low of $85.22 and a 1 year high of $122.00. The stock 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) last posted its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 EPS for the quarter, beating the consensus estimate of $2.37 by $0.15. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The firm’s revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the company earned $2.23 earnings per share. As a group, equities analysts expect that T. Rowe Price Group, Inc. will post 10.12 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 15th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend was Monday, June 15th. T. Rowe Price Group’s payout ratio is 55.73%.

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.