Segall Bryant & Hamill LLC Takes $632,000 Position in T. Rowe Price Group, Inc. $TROW

Segall Bryant & Hamill LLC acquired a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 7,076 shares of the asset manager’s stock, valued at approximately $632,000.

A number of other institutional investors have also recently bought and sold shares of TROW. State Street Corp increased its position in T. Rowe Price Group by 0.3% in the 4th quarter. State Street Corp now owns 14,159,797 shares of the asset manager’s stock worth $1,449,680,000 after purchasing an additional 45,530 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of T. Rowe Price Group by 332.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager’s stock valued at $897,880,000 after buying an additional 6,740,172 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of T. Rowe Price Group by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,073,846 shares of the asset manager’s stock valued at $826,600,000 after buying an additional 143,109 shares in the last quarter. First Trust Advisors LP increased its holdings in T. Rowe Price Group by 12.6% in the first quarter. First Trust Advisors LP now owns 3,694,171 shares of the asset manager’s stock worth $332,993,000 after buying an additional 413,317 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in T. Rowe Price Group by 3.9% in the fourth quarter. Invesco Ltd. now owns 3,520,858 shares of the asset manager’s stock worth $360,465,000 after buying an additional 131,438 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insiders Place Their Bets

In related news, VP Stephon A. Jackson sold 3,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total transaction of $307,680.00. Following the transaction, the vice president directly owned 83,883 shares in the company, valued at $8,603,040.48. The trade was a 3.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

TROW has been the subject of a number of analyst reports. Evercore set a $121.00 target price on shares of T. Rowe Price Group in a research note on Friday, July 10th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $109.00 price target on shares of T. Rowe Price Group in a report on Monday. The Goldman Sachs Group lifted their price objective on shares of T. Rowe Price Group from $90.00 to $92.00 and gave the company a “sell” rating in a research note on Tuesday, June 30th. Barclays decreased their price objective on shares of T. Rowe Price Group from $108.00 to $103.00 and set an “underweight” rating for the company in a report on Monday. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $115.00 target price (down from $120.00) on shares of T. Rowe Price Group in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, nine have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, T. Rowe Price Group currently has a consensus rating of “Reduce” and an average target price of $105.92.

T. Rowe Price Group Price Performance

NASDAQ TROW opened at $114.98 on Thursday. The firm has a market capitalization of $24.53 billion, a price-to-earnings ratio of 11.53, a P/E/G ratio of 3.73 and a beta of 1.47. The company’s fifty day moving average is $112.42 and its two-hundred day moving average is $102.30. T. Rowe Price Group, Inc. has a 52-week low of $85.22 and a 52-week high of $122.00.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.05. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.91%. The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the previous year, the firm posted $2.24 EPS. The business’s revenue was up 10.7% compared to the same quarter last year. As a group, sell-side analysts expect that T. Rowe Price Group, Inc. will post 10.12 earnings per share for the current fiscal year.

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.