T. Rowe Price Group, Inc. (NASDAQ:TROW) Insider Sells $50,689.32 in Stock

by · The Markets Daily

T. Rowe Price Group, Inc. (NASDAQ:TROW – Get Free Report) insider Jessica M. Hiebler sold 484 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $104.73, for a total transaction of $50,689.32. Following the sale, the insider now directly owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

T. Rowe Price Group Stock Up 0.2 %

Shares of T. Rowe Price Group stock opened at $108.13 on Thursday. The company has a market capitalization of $24.07 billion, a price-to-earnings ratio of 12.84, a PEG ratio of 1.69 and a beta of 1.41. The stock’s 50-day simple moving average is $109.13 and its 200-day simple moving average is $113.38. T. Rowe Price Group, Inc. has a 52 week low of $87.43 and a 52 week high of $122.27.

T. Rowe Price Group (NASDAQ:TROW – Get Free Report) last issued its earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.01). T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same period last year, the business posted $2.02 EPS. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, equities analysts expect that T. Rowe Price Group, Inc. will post 9 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 4.59%. The ex-dividend date of this dividend is Friday, September 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 58.91%.

Hedge Funds Weigh In On T. Rowe Price Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Lynx Investment Advisory purchased a new stake in T. Rowe Price Group in the 2nd quarter worth $29,000. Family Firm Inc. purchased a new position in shares of T. Rowe Price Group during the second quarter valued at about $36,000. Versant Capital Management Inc increased its holdings in shares of T. Rowe Price Group by 660.5% in the second quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock worth $38,000 after purchasing an additional 284 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of T. Rowe Price Group by 93.6% in the first quarter. EverSource Wealth Advisors LLC now owns 331 shares of the asset manager’s stock worth $40,000 after purchasing an additional 160 shares during the last quarter. Finally, Riverview Trust Co lifted its position in shares of T. Rowe Price Group by 136.4% in the second quarter. Riverview Trust Co now owns 357 shares of the asset manager’s stock worth $41,000 after buying an additional 206 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on TROW shares. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $120.00 price objective (down previously from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. JPMorgan Chase & Co. raised their target price on T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a report on Tuesday, July 23rd. Wells Fargo & Company initiated coverage on T. Rowe Price Group in a report on Thursday, September 12th. They set an “equal weight” rating and a $109.00 price target for the company. Finally, Evercore ISI reduced their price target on T. Rowe Price Group from $115.00 to $108.00 and set an “in-line” rating for the company in a research report on Thursday, September 5th. Three research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to MarketBeat.com, T. Rowe Price Group currently has a consensus rating of “Hold” and an average target price of $113.30.

Check Out Our Latest Analysis on TROW

About T. Rowe Price Group

(Get Free Report)

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.

Featured Stories