Christopher D. Alderson Sells 6,808 Shares of T. Rowe Price Group, Inc. (TROW) Stock

T. Rowe Price Group, Inc. (NASDAQ:TROW) VP Christopher D. Alderson sold 6,808 shares of T. Rowe Price Group stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $102.83, for a total transaction of $700,066.64. Following the transaction, the vice president now directly owns 119,846 shares of the company’s stock, valued at $12,323,764.18. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

T. Rowe Price Group, Inc. (NASDAQ:TROW) opened at $101.90 on Thursday. The firm has a market cap of $24,679.27, a P/E ratio of 19.89, a PEG ratio of 1.87 and a beta of 1.32. T. Rowe Price Group, Inc. has a 1-year low of $65.33 and a 1-year high of $104.40.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Thursday, October 26th. The asset manager reported $1.56 EPS for the quarter, topping the Zacks’ consensus estimate of $1.36 by $0.20. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. T. Rowe Price Group had a net margin of 33.10% and a return on equity of 24.76%. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.17 earnings per share. equities research analysts expect that T. Rowe Price Group, Inc. will post 5.29 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, December 14th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date is Wednesday, December 13th. T. Rowe Price Group’s dividend payout ratio is presently 37.38%.

Several hedge funds have recently made changes to their positions in TROW. Daiwa Securities Group Inc. raised its position in T. Rowe Price Group by 5.9% during the second quarter. Daiwa Securities Group Inc. now owns 7,150 shares of the asset manager’s stock worth $531,000 after acquiring an additional 400 shares in the last quarter. IFP Advisors Inc raised its position in T. Rowe Price Group by 12.4% during the second quarter. IFP Advisors Inc now owns 6,673 shares of the asset manager’s stock worth $495,000 after acquiring an additional 738 shares in the last quarter. Global X Management Co. LLC raised its position in T. Rowe Price Group by 11.1% during the second quarter. Global X Management Co. LLC now owns 5,155 shares of the asset manager’s stock worth $383,000 after acquiring an additional 514 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in T. Rowe Price Group by 7.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,215,326 shares of the asset manager’s stock worth $90,190,000 after acquiring an additional 84,160 shares in the last quarter. Finally, National Planning Corp bought a new stake in T. Rowe Price Group during the second quarter worth $209,000. 72.21% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have weighed in on TROW shares. Zacks Investment Research raised shares of T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $93.00 target price for the company in a research note on Tuesday, September 12th. Jefferies Group reaffirmed a “buy” rating and issued a $96.00 target price on shares of T. Rowe Price Group in a research note on Sunday, August 20th. Goldman Sachs Group raised shares of T. Rowe Price Group from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $85.00 to $100.00 in a research note on Thursday, September 28th. Morgan Stanley raised shares of T. Rowe Price Group from an “underweight” rating to an “equal” rating and boosted their target price for the stock from $77.00 to $93.00 in a research note on Thursday, October 5th. Finally, Citigroup boosted their price target on shares of T. Rowe Price Group from $94.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, October 27th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $89.67.

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T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.

Insider Buying and Selling by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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