Jessica M. Hiebler Sells 968 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) Stock

T. Rowe Price Group, Inc. (NASDAQ:TROW) insider Jessica M. Hiebler sold 968 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $96.98, for a total value of $93,876.64. Following the completion of the sale, the insider now directly owns 13,611 shares in the company, valued at approximately $1,319,994.78. This trade represents a 6.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

T. Rowe Price Group Trading Up 0.1%

TROW stock opened at $97.32 on Thursday. The firm’s 50-day moving average is $90.44 and its two-hundred day moving average is $106.00. The company has a market capitalization of $21.44 billion, a price-to-earnings ratio of 10.62, a price-to-earnings-growth ratio of 2.86 and a beta of 1.50. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, May 2nd. The asset manager reported $2.23 EPS for the quarter, topping the consensus estimate of $2.13 by $0.10. The firm had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.80 billion. T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.38 earnings per share. On average, equities research analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.22%. The ex-dividend date is Friday, June 13th. T. Rowe Price Group’s dividend payout ratio is presently 57.60%.

Institutional Trading of T. Rowe Price Group

Institutional investors have recently modified their holdings of the company. Barclays PLC boosted its position in shares of T. Rowe Price Group by 13.6% during the 3rd quarter. Barclays PLC now owns 822,869 shares of the asset manager’s stock valued at $89,635,000 after purchasing an additional 98,448 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in T. Rowe Price Group by 2.8% during the third quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager’s stock worth $30,062,000 after buying an additional 7,503 shares in the last quarter. Czech National Bank boosted its holdings in T. Rowe Price Group by 6.2% during the fourth quarter. Czech National Bank now owns 48,169 shares of the asset manager’s stock worth $5,447,000 after buying an additional 2,824 shares in the last quarter. Matrix Trust Co grew its position in T. Rowe Price Group by 7.4% in the fourth quarter. Matrix Trust Co now owns 14,767 shares of the asset manager’s stock worth $1,670,000 after buying an additional 1,019 shares during the last quarter. Finally, Brookstone Capital Management increased its holdings in shares of T. Rowe Price Group by 16.4% in the fourth quarter. Brookstone Capital Management now owns 100,176 shares of the asset manager’s stock valued at $11,329,000 after buying an additional 14,087 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on TROW shares. The Goldman Sachs Group dropped their target price on T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating on the stock in a research report on Monday, April 14th. Cowen reiterated a “hold” rating on shares of T. Rowe Price Group in a research report on Monday, May 5th. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Citigroup dropped their price target on shares of T. Rowe Price Group from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Finally, Evercore ISI reduced their price objective on T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating for the company in a research report on Friday, April 11th. Four investment analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $94.09.

About T. Rowe Price Group

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.