Sei Investments Co. Raises Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Sei Investments Co. boosted its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 12.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 249,794 shares of the asset manager’s stock after purchasing an additional 28,500 shares during the period. Sei Investments Co. owned about 0.11% of T. Rowe Price Group worth $28,249,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of TROW. Charles Schwab Investment Management Inc. boosted its holdings in shares of T. Rowe Price Group by 5.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager’s stock worth $812,798,000 after buying an additional 346,369 shares during the last quarter. Geode Capital Management LLC boosted its stake in T. Rowe Price Group by 0.5% in the third quarter. Geode Capital Management LLC now owns 5,515,198 shares of the asset manager’s stock valued at $598,801,000 after acquiring an additional 25,481 shares during the last quarter. Provident Trust Co. increased its stake in shares of T. Rowe Price Group by 8.9% during the 4th quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager’s stock worth $295,311,000 after purchasing an additional 213,566 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of T. Rowe Price Group by 0.5% in the 4th quarter. Fisher Asset Management LLC now owns 1,870,446 shares of the asset manager’s stock worth $211,529,000 after purchasing an additional 8,992 shares during the period. Finally, Amundi lifted its stake in T. Rowe Price Group by 30.1% in the fourth quarter. Amundi now owns 1,717,877 shares of the asset manager’s stock valued at $194,064,000 after purchasing an additional 397,278 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

Insider Buying and Selling

In other news, VP Arif Husain sold 4,112 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total transaction of $449,318.24. Following the transaction, the vice president now directly owns 36,800 shares in the company, valued at approximately $4,021,136. This represents a 10.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is owned by company insiders.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock opened at $95.47 on Wednesday. T. Rowe Price Group, Inc. has a fifty-two week low of $91.37 and a fifty-two week high of $125.81. The stock has a market cap of $21.25 billion, a P/E ratio of 10.42, a PEG ratio of 2.86 and a beta of 1.46. The firm’s fifty day moving average price is $105.77 and its 200-day moving average price is $111.13.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 EPS for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same period in the previous year, the business posted $1.72 EPS. Sell-side analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $1.27 per share. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.32%. The ex-dividend date of this dividend is Friday, March 14th. T. Rowe Price Group’s payout ratio is currently 55.46%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Morgan Stanley dropped their price objective on shares of T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating on the stock in a report on Monday, February 24th. Barclays reduced their target price on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a research note on Thursday, February 6th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $113.00 price target (up from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Finally, Wells Fargo & Company reduced their price objective on shares of T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $114.09.

T. Rowe Price Group 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.