T. Rowe Price Group (NASDAQ:TROW) VP Sells $307,680.00 in Stock

T. Rowe Price Group, Inc. (NASDAQ:TROW) VP Stephon Jackson sold 3,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total transaction of $307,680.00. Following the sale, the vice president owned 83,883 shares in the company, valued at $8,603,040.48. This trade represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

T. Rowe Price Group Trading Down 0.4%

Shares of NASDAQ:TROW opened at $102.01 on Friday. The company has a 50 day moving average of $94.55 and a 200-day moving average of $99.23. The firm has a market cap of $21.86 billion, a P/E ratio of 10.93, a P/E/G ratio of 4.46 and a beta of 1.51. T. Rowe Price Group, Inc. has a twelve month low of $85.22 and a twelve month high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 EPS for the quarter, beating analysts’ consensus estimates of $2.37 by $0.15. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter last year, the business earned $2.23 earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. Equities research analysts forecast that T. Rowe Price Group, Inc. will post 9.61 EPS for the current year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be given a dividend of $1.30 per share. The ex-dividend date is Monday, June 15th. This represents a $5.20 annualized dividend and a dividend yield of 5.1%. T. Rowe Price Group’s dividend payout ratio (DPR) is 55.73%.

Institutional Investors Weigh In On T. Rowe Price Group

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of T. Rowe Price Group in a research note on Friday, May 8th. Jefferies Financial Group dropped their price target on shares of T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating on the stock in a research report on Wednesday, April 8th. Zacks Research raised shares of T. Rowe Price Group from a “strong sell” rating to a “hold” rating in a report on Wednesday. Morgan Stanley set a $105.00 price objective on shares of T. Rowe Price Group in a research report on Monday, April 27th. Finally, The Goldman Sachs Group lifted their price objective on shares of T. Rowe Price Group from $85.00 to $90.00 in a research note on Friday, May 1st. Eleven equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $99.54.

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.