T. Rowe Price Group (NASDAQ:TROW) VP Sells $1,118,200.00 in Stock

T. Rowe Price Group, Inc. (NASDAQ:TROW) VP Joshua Nelson sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $111.82, for a total value of $1,118,200.00. Following the completion of the sale, the vice president directly owned 71,328 shares in the company, valued at approximately $7,975,896.96. The trade was a 12.30% 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 Stock Down 0.8%

Shares of TROW stock traded down $0.90 during trading hours on Wednesday, hitting $111.97. 82,911 shares of the company were exchanged, compared to its average volume of 2,154,311. The firm has a market cap of $23.89 billion, a PE ratio of 11.26, a PEG ratio of 3.72 and a beta of 1.47. 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 fifty day moving average of $114.10 and a 200 day moving average of $103.02.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.52 by $0.05. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.91%. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the previous year, the firm earned $2.24 earnings per share. T. Rowe Price Group’s revenue was up 10.7% compared to the same quarter last year. Analysts expect that T. Rowe Price Group, Inc. will post 10.15 earnings per share 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%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on TROW shares. BMO Capital Markets boosted their price target on T. Rowe Price Group from $110.00 to $120.00 and gave the company a “market perform” rating in a research report on Monday, August 3rd. Barclays cut their price objective on T. Rowe Price Group from $108.00 to $103.00 and set an “underweight” rating on the stock in a report on Monday, August 3rd. Weiss Ratings raised T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 2nd. Zacks Research cut T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 13th. Finally, TD Cowen raised their price target on shares of T. Rowe Price Group from $107.00 to $108.00 and gave the company a “hold” rating in a report on Monday, August 3rd. Ten research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, T. Rowe Price Group currently has an average rating of “Reduce” and an average price target of $105.67.

Hedge Funds Weigh In On T. Rowe Price Group

Several hedge funds and other institutional investors have recently bought and sold shares of TROW. TD Private Client Wealth LLC lifted its position in shares of T. Rowe Price Group by 91.8% during the fourth 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 in the last quarter. DV Equities LLC acquired a new position in shares of T. Rowe Price Group in the 4th quarter valued at approximately $32,000. Motiv8 Investments LLC acquired a new position in shares of T. Rowe Price Group in the 4th quarter valued at approximately $35,000. Bank & Trust Co boosted its stake 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 last quarter. Finally, Keating Financial Advisory Services Inc. bought a new stake in shares of T. Rowe Price Group in the second quarter worth $39,000. 73.39% of the stock is 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.