Insider Selling: T. Rowe Price Group, Inc. (NASDAQ:TROW) VP Sells $499,197.45 in Stock

T. Rowe Price Group, Inc. (NASDAQ:TROW) VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total value of $499,197.45. Following the completion of the sale, the vice president now directly owns 119,577 shares in the company, valued at approximately $14,749,822.95. The trade was a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW opened at $119.54 on Friday. T. Rowe Price Group, Inc. has a 1-year low of $100.49 and a 1-year high of $125.81. The company has a market capitalization of $26.56 billion, a price-to-earnings ratio of 13.08, a PEG ratio of 1.72 and a beta of 1.42. The business has a 50-day moving average of $116.67 and a 200-day moving average of $113.26.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the prior year, the business earned $2.17 EPS. T. Rowe Price Group’s quarterly revenue was up 6.9% compared to the same quarter last year. Research analysts expect that T. Rowe Price Group, Inc. will post 9.39 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 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 4.15%. The ex-dividend date of this dividend is Friday, December 13th. T. Rowe Price Group’s payout ratio is 54.27%.

Analysts Set New Price Targets

Several research firms recently issued reports on TROW. TD Cowen decreased their target price on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. JPMorgan Chase & Co. decreased their price target on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. The Goldman Sachs Group dropped their price objective on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft lifted their target price on T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a report on Monday, November 11th. Finally, Barclays upped their price target on T. Rowe Price Group from $110.00 to $115.00 and gave the stock an “underweight” rating in a research note on Monday, December 9th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $117.09.

Institutional Investors Weigh In On T. Rowe Price Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TROW. QRG Capital Management Inc. increased its position in shares of T. Rowe Price Group by 2.8% during the second quarter. QRG Capital Management Inc. now owns 5,199 shares of the asset manager’s stock worth $599,000 after acquiring an additional 140 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in T. Rowe Price Group by 34.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 3,888 shares of the asset manager’s stock worth $448,000 after purchasing an additional 987 shares during the last quarter. M&G Plc acquired a new position in shares of T. Rowe Price Group in the 2nd quarter valued at approximately $1,333,000. V Square Quantitative Management LLC boosted its stake in shares of T. Rowe Price Group by 4.1% during the 2nd quarter. V Square Quantitative Management LLC now owns 4,311 shares of the asset manager’s stock valued at $497,000 after buying an additional 169 shares during the last quarter. Finally, ORG Partners LLC acquired a new stake in shares of T. Rowe Price Group during the second quarter worth approximately $46,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

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.