T. Rowe Price Group, Inc. (NASDAQ:TROW) VP Sells $1,230,772.27 in Stock

T. Rowe Price Group, Inc. (NASDAQ:TROW) VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the completion of the transaction, the vice president now owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

T. Rowe Price Group Trading Up 0.4 %

NASDAQ TROW opened at $104.11 on Thursday. T. Rowe Price Group, Inc. has a 12 month low of $87.43 and a 12 month high of $122.27. The stock has a 50 day moving average of $110.02 and a 200-day moving average of $113.58. The company has a market cap of $23.17 billion, a PE ratio of 12.36, a PEG ratio of 1.62 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.79 billion. T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The business’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.02 EPS. As a group, sell-side analysts predict that T. Rowe Price Group, Inc. will post 9 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date is Friday, September 13th. T. Rowe Price Group’s payout ratio is currently 58.91%.

Analyst Ratings Changes

TROW has been the subject of a number of research analyst reports. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Barclays initiated coverage on T. Rowe Price Group in a research report on Tuesday, August 27th. They set an “underweight” rating and a $99.00 price objective for the company. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $120.00 target price (down previously from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. 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. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Four equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $113.20.

Institutional Trading of T. Rowe Price Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Apollon Wealth Management LLC raised its stake in T. Rowe Price Group by 6.8% in the 4th quarter. Apollon Wealth Management LLC now owns 3,539 shares of the asset manager’s stock valued at $381,000 after acquiring an additional 226 shares during the period. Principal Securities Inc. bought a new position in shares of T. Rowe Price Group in the fourth quarter valued at about $53,000. AGF Management Ltd. acquired a new stake in shares of T. Rowe Price Group during the 4th quarter worth about $530,000. Jump Financial LLC boosted its holdings in shares of T. Rowe Price Group by 492.6% during the 4th quarter. Jump Financial LLC now owns 28,965 shares of the asset manager’s stock worth $3,119,000 after buying an additional 24,077 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in T. Rowe Price Group by 21.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,352,683 shares of the asset manager’s stock valued at $145,685,000 after buying an additional 236,697 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

About T. Rowe Price Group

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.