T. Rowe Price Group, Inc. (NASDAQ:TROW) VP Andrew Justin Mackenzi Thomson Sells 11,969 Shares

T. Rowe Price Group, Inc. (NASDAQ:TROW) VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the completion of the transaction, the vice president now directly owns 123,624 shares of the company’s stock, valued at $12,712,255.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW traded up $1.69 during midday trading on Monday, reaching $103.38. 550,179 shares of the company traded hands, compared to its average volume of 1,268,503. The stock has a 50-day moving average price of $110.68 and a 200 day moving average price of $113.75. The company has a market cap of $23.01 billion, a price-to-earnings ratio of 12.30, a PEG ratio of 1.62 and a beta of 1.41. T. Rowe Price Group, Inc. has a 52 week low of $87.43 and a 52 week high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.01). The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.79 billion. T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.02 EPS. As a group, analysts expect that T. Rowe Price Group, Inc. will post 9 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 4.80%. The ex-dividend date of this dividend is Friday, September 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 58.91%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Lynx Investment Advisory bought a new position in shares of T. Rowe Price Group in the second quarter valued at approximately $29,000. First United Bank & Trust bought a new position in T. Rowe Price Group in the 4th quarter valued at $31,000. Family Firm Inc. acquired a new position in T. Rowe Price Group in the second quarter worth $36,000. Versant Capital Management Inc grew its holdings in shares of T. Rowe Price Group by 660.5% during the second quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock worth $38,000 after purchasing an additional 284 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of T. Rowe Price Group by 93.6% in the first quarter. EverSource Wealth Advisors LLC now owns 331 shares of the asset manager’s stock valued at $40,000 after buying an additional 160 shares in the last quarter. 73.39% of the stock is owned by institutional investors.

Analyst Ratings Changes

TROW has been the subject of several research analyst reports. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Evercore ISI cut their target price on T. Rowe Price Group from $115.00 to $108.00 and set an “in-line” rating on the stock in a research report on Thursday. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $120.00 target price (down from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. Finally, TD Cowen dropped their price target on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating on the stock in a research note on Monday, July 29th. Four analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $113.20.

T. Rowe Price Group Company Profile

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.