T. Rowe Price Group Inc (NASDAQ:TROW) VP W. Sharps Robert sold 2,617 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $100.73, for a total transaction of $263,610.41. Following the transaction, the vice president now directly owns 448,651 shares in the company, valued at approximately $45,192,615.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Shares of T. Rowe Price Group stock traded up $1.76 during midday trading on Friday, hitting $102.44. The company had a trading volume of 2,842,189 shares, compared to its average volume of 1,554,886. The company has a market cap of $23.94 billion, a price-to-earnings ratio of 14.33, a PEG ratio of 1.92 and a beta of 1.04. T. Rowe Price Group Inc has a 1-year low of $84.59 and a 1-year high of $127.43.
T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Wednesday, January 30th. The asset manager reported $1.41 EPS for the quarter, missing the consensus estimate of $1.66 by ($0.25). The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.33 billion. T. Rowe Price Group had a return on equity of 29.16% and a net margin of 33.95%. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period last year, the business earned $1.52 earnings per share. On average, analysts anticipate that T. Rowe Price Group Inc will post 6.27 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be given a $0.76 dividend. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $0.70. This represents a $3.04 annualized dividend and a yield of 2.97%. The ex-dividend date is Thursday, March 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is 39.16%.
TROW has been the topic of several recent research reports. BidaskClub raised shares of T. Rowe Price Group from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 16th. Evercore ISI raised shares of T. Rowe Price Group from an “in-line” rating to an “outperform” rating and set a $99.00 price objective on the stock in a research report on Thursday, January 31st. Zacks Investment Research downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating and set a $106.00 price target on the stock. in a report on Saturday, November 17th. Bank of America restated a “buy” rating and issued a $108.00 price objective (down previously from $125.00) on shares of T. Rowe Price Group in a research note on Thursday, December 6th. Finally, Morgan Stanley lowered their price objective on shares of T. Rowe Price Group from $105.00 to $98.00 and set an “equal weight” rating on the stock in a research note on Friday, January 4th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $102.73.
Institutional investors have recently added to or reduced their stakes in the stock. Goelzer Investment Management Inc. raised its holdings in shares of T. Rowe Price Group by 1.4% in the fourth quarter. Goelzer Investment Management Inc. now owns 51,876 shares of the asset manager’s stock valued at $4,789,000 after buying an additional 724 shares during the last quarter. Huntington National Bank raised its holdings in shares of T. Rowe Price Group by 44.6% in the fourth quarter. Huntington National Bank now owns 28,400 shares of the asset manager’s stock valued at $2,622,000 after buying an additional 8,762 shares during the last quarter. Dubuque Bank & Trust Co. raised its holdings in shares of T. Rowe Price Group by 3.0% in the fourth quarter. Dubuque Bank & Trust Co. now owns 39,670 shares of the asset manager’s stock valued at $3,663,000 after buying an additional 1,153 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in shares of T. Rowe Price Group by 4.7% in the fourth quarter. State of Alaska Department of Revenue now owns 75,482 shares of the asset manager’s stock valued at $6,965,000 after buying an additional 3,382 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in T. Rowe Price Group by 99.7% in the third quarter. SG Americas Securities LLC now owns 54,233 shares of the asset manager’s stock worth $5,921,000 after purchasing an additional 27,072 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.
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.
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