Joshua Nelson Sells 10,000 Shares of T. Rowe Price Group (NASDAQ:TROW) Stock

T. Rowe Price Group, Inc. (NASDAQ:TROW) VP Joshua Nelson sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $111.82, for a total transaction of $1,118,200.00. Following the completion of the sale, the vice president directly owned 71,328 shares in the company, valued at $7,975,896.96. This represents a 12.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock opened at $112.36 on Friday. T. Rowe Price Group, Inc. has a 1 year low of $85.22 and a 1 year high of $122.00. The firm has a 50 day moving average price of $114.28 and a 200 day moving average price of $103.29. The company has a market cap of $23.97 billion, a price-to-earnings ratio of 11.27, a PEG ratio of 3.73 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.05. The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.89 billion. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.91%. T. Rowe Price Group’s revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.24 earnings per share. Sell-side analysts predict that T. Rowe Price Group, Inc. will post 10.15 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend is Tuesday, September 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is 52.16%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on TROW shares. The Goldman Sachs Group boosted their price target on T. Rowe Price Group from $90.00 to $92.00 and gave the company a “sell” rating in a research report on Tuesday, June 30th. BMO Capital Markets lifted their price objective on T. Rowe Price Group from $110.00 to $120.00 and gave the company a “market perform” rating in a research note on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $109.00 target price on shares of T. Rowe Price Group in a report on Monday, August 3rd. Weiss Ratings raised shares of T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 2nd. Finally, Morgan Stanley set a $116.00 price target on shares of T. Rowe Price Group in a report on Wednesday, July 29th. Ten investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, T. Rowe Price Group presently has an average rating of “Reduce” and an average price target of $105.67.

Institutional Trading of T. Rowe Price Group

Large investors have recently added to or reduced their stakes in the stock. TD Private Client Wealth LLC boosted its position in shares of T. Rowe Price Group by 91.8% in the fourth quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock worth $26,000 after buying an additional 123 shares during the period. DV Equities LLC acquired a new stake in shares of T. Rowe Price Group in the fourth quarter valued at about $32,000. Motiv8 Investments LLC purchased a new stake in shares of T. Rowe Price Group during the 4th quarter valued at about $35,000. Bank & Trust Co raised its holdings in shares of T. Rowe Price Group by 52.4% during the 2nd quarter. Bank & Trust Co now owns 314 shares of the asset manager’s stock valued at $36,000 after buying an additional 108 shares during the period. Finally, Keating Financial Advisory Services Inc. acquired a new position in T. Rowe Price Group during the 2nd quarter worth approximately $39,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.