SG Americas Securities LLC Acquires 128,327 Shares of T. Rowe Price Group, Inc. $TROW

SG Americas Securities LLC grew its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 85.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 279,200 shares of the asset manager’s stock after purchasing an additional 128,327 shares during the quarter. SG Americas Securities LLC’s holdings in T. Rowe Price Group were worth $25,167,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in TROW. MTM Investment Management LLC lifted its position in T. Rowe Price Group by 3.5% during the 4th quarter. MTM Investment Management LLC now owns 3,167 shares of the asset manager’s stock worth $324,000 after buying an additional 107 shares in the last quarter. GenTrust LLC increased its position in T. Rowe Price Group by 5.5% in the 4th quarter. GenTrust LLC now owns 2,114 shares of the asset manager’s stock valued at $216,000 after acquiring an additional 110 shares in the last quarter. Fiduciary Trust Co increased its position in T. Rowe Price Group by 4.5% in the 3rd quarter. Fiduciary Trust Co now owns 2,579 shares of the asset manager’s stock valued at $265,000 after acquiring an additional 111 shares in the last quarter. 1834 Investment Advisors Co. raised its stake in shares of T. Rowe Price Group by 0.3% in the fourth quarter. 1834 Investment Advisors Co. now owns 37,490 shares of the asset manager’s stock worth $3,838,000 after acquiring an additional 115 shares during the last quarter. Finally, Allworth Financial LP raised its stake in shares of T. Rowe Price Group by 2.1% in the fourth quarter. Allworth Financial LP now owns 5,541 shares of the asset manager’s stock worth $567,000 after acquiring an additional 115 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of TROW stock opened at $105.20 on Thursday. The stock has a market cap of $22.54 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 5.45 and a beta of 1.50. The stock has a 50-day moving average of $103.45 and a 200-day moving average of $99.88. T. Rowe Price Group, Inc. has a one year low of $85.22 and a one year high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share 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 period last year, the company posted $2.23 EPS. T. Rowe Price Group’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, research analysts anticipate that T. Rowe Price Group, Inc. will post 9.58 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be issued a $1.30 dividend. The ex-dividend date is Monday, June 15th. This represents a $5.20 annualized dividend and a yield of 4.9%. T. Rowe Price Group’s dividend payout ratio (DPR) is 55.73%.

Analyst Upgrades and Downgrades

TROW has been the topic of several research analyst reports. Jefferies Financial Group decreased their price target on shares of 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. Zacks Research raised T. Rowe Price Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 13th. The Goldman Sachs Group increased their price objective on T. Rowe Price Group from $85.00 to $90.00 in a research report on Friday, May 1st. JPMorgan Chase & Co. lowered their target price on T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating for the company in a research note on Friday, April 24th. Finally, Evercore upped their target price on shares of T. Rowe Price Group from $106.00 to $111.00 in a research report on Monday, June 8th. Eleven investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $100.08.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Stephon A. Jackson sold 3,000 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total value of $307,680.00. Following the completion of the transaction, the vice president owned 83,883 shares of the company’s stock, valued at $8,603,040.48. The trade was a 3.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

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.