Robert F. Maclellan Sells 3,955 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) Stock

T. Rowe Price Group, Inc. (NASDAQ:TROW) Director Robert F. Maclellan sold 3,955 shares of T. Rowe Price Group stock in a transaction on Monday, March 31st. The shares were sold at an average price of $91.56, for a total transaction of $362,119.80. Following the transaction, the director now owns 42,979 shares in the company, valued at approximately $3,935,157.24. This trade represents a 8.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock traded up $0.46 during trading hours on Tuesday, reaching $92.33. The company’s stock had a trading volume of 508,141 shares, compared to its average volume of 1,360,174. The firm has a 50 day moving average price of $104.18 and a 200-day moving average price of $110.82. The stock has a market cap of $20.52 billion, a P/E ratio of 10.07, a P/E/G ratio of 2.86 and a beta of 1.46. T. Rowe Price Group, Inc. has a one year low of $89.70 and a one year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. During the same period in the previous year, the company earned $1.72 EPS. As a group, sell-side analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a $1.27 dividend. The ex-dividend date of this dividend was Friday, March 14th. 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 yield of 5.50%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 55.46%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Glenview Trust co boosted its stake in shares of T. Rowe Price Group by 2.2% during the 4th quarter. Glenview Trust co now owns 4,318 shares of the asset manager’s stock worth $488,000 after purchasing an additional 92 shares during the period. MCF Advisors LLC lifted its stake in T. Rowe Price Group by 1.5% in the fourth quarter. MCF Advisors LLC now owns 6,226 shares of the asset manager’s stock worth $704,000 after purchasing an additional 93 shares during the last quarter. Addison Advisors LLC boosted its position in shares of T. Rowe Price Group by 67.4% during the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after buying an additional 93 shares during the period. Brooklyn Investment Group grew its stake in shares of T. Rowe Price Group by 24.6% during the fourth quarter. Brooklyn Investment Group now owns 497 shares of the asset manager’s stock valued at $56,000 after buying an additional 98 shares during the last quarter. Finally, Advantage Trust Co raised its holdings in shares of T. Rowe Price Group by 48.8% in the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock worth $34,000 after buying an additional 100 shares during the period. Institutional investors own 73.39% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $113.00 price objective (up from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Citigroup dropped their price target on T. Rowe Price Group from $120.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday. Morgan Stanley cut their price objective on shares of T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a report on Monday, February 24th. Barclays dropped 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 report on Thursday, February 6th. Finally, Wells Fargo & Company reduced their price target on shares of T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $111.82.

T. Rowe Price Group Company 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.