T. Rowe Price Group (NASDAQ:TROW) VP Stephon Jackson Sells 3,000 Shares

T. Rowe Price Group, Inc. (NASDAQ:TROW) VP Stephon Jackson sold 3,000 shares of T. Rowe Price Group stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total value of $307,680.00. Following the transaction, the vice president owned 83,883 shares in the company, valued at approximately $8,603,040.48. This trade represents a 3.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

T. Rowe Price Group Stock Performance

TROW opened at $102.41 on Friday. The company has a market capitalization of $21.94 billion, a PE ratio of 10.98, a P/E/G ratio of 4.50 and a beta of 1.51. The stock’s fifty day moving average is $94.35 and its 200-day moving average is $99.21. T. Rowe Price Group, Inc. has a one year low of $85.22 and a one year high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.37 by $0.15. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same period in the previous year, the company earned $2.23 earnings per share. T. Rowe Price Group’s revenue was up 5.3% compared to the same quarter last year. On average, equities research analysts forecast that T. Rowe Price Group, Inc. will post 9.61 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be paid a $1.30 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $5.20 annualized dividend and a dividend yield of 5.1%. T. Rowe Price Group’s payout ratio is currently 55.73%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Keefe, Bruyette & Woods increased their target price on shares of T. Rowe Price Group from $95.00 to $107.00 and gave the company a “market perform” rating in a research note on Friday, May 1st. Zacks Research upgraded shares of T. Rowe Price Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday. Jefferies Financial Group cut their price objective on T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating for the company in a research report on Wednesday, April 8th. JPMorgan Chase & Co. reduced their price objective on T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating for the company in a research note on Friday, April 24th. Finally, TD Cowen lifted their target price on T. Rowe Price Group from $93.00 to $94.00 and gave the stock a “hold” rating in a report on Friday, May 1st. Eleven research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, T. Rowe Price Group currently has a consensus rating of “Reduce” and a consensus price target of $99.54.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. TD Private Client Wealth LLC boosted its stake in T. Rowe Price Group by 91.8% in the 4th quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock worth $26,000 after purchasing an additional 123 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its stake in T. Rowe Price Group by 540.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 238 shares during the period. Root Financial Partners LLC acquired a new stake in T. Rowe Price Group during the 3rd quarter valued at $30,000. Canton Hathaway LLC purchased a new stake in shares of T. Rowe Price Group in the fourth quarter valued at $31,000. Finally, Sound Income Strategies LLC boosted its position in shares of T. Rowe Price Group by 170.3% in the fourth quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock worth $32,000 after buying an additional 189 shares during the period. 73.39% of the stock is owned by hedge funds and other institutional investors.

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.