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 business’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $111.82, for a total value of $1,118,200.00. Following the transaction, the vice president owned 71,328 shares in the company, valued at $7,975,896.96. This represents a 12.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock opened at $111.24 on Friday. T. Rowe Price Group, Inc. has a 52-week low of $85.22 and a 52-week high of $122.00. The firm has a market capitalization of $23.73 billion, a PE ratio of 11.16, a price-to-earnings-growth ratio of 3.72 and a beta of 1.47. The company’s fifty day moving average price is $114.35 and its two-hundred day moving average price is $103.34.

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

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.7%. T. Rowe Price Group’s dividend payout ratio is presently 52.16%.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Zacks Research downgraded T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $109.00 price objective on shares of T. Rowe Price Group in a research note on Monday, August 3rd. The Goldman Sachs Group lifted their price objective on T. Rowe Price Group from $90.00 to $92.00 and gave the company a “sell” rating in a report on Tuesday, June 30th. TD Cowen boosted their target price on shares of T. Rowe Price Group from $107.00 to $108.00 and gave the company a “hold” rating in a research note on Monday, August 3rd. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $115.00 target price (down from $120.00) on shares of T. Rowe Price Group in a report on Monday, August 3rd. Ten equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $105.67.

Institutional Trading of T. Rowe Price Group

Several hedge funds have recently modified their holdings of the stock. TD Private Client Wealth LLC increased its holdings in shares of T. Rowe Price Group by 91.8% in the fourth 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 in the last quarter. DV Equities LLC bought a new position in T. Rowe Price Group in the 4th quarter worth approximately $32,000. Bank & Trust Co lifted its holdings in T. Rowe Price Group by 52.4% during the 2nd quarter. Bank & Trust Co now owns 314 shares of the asset manager’s stock worth $36,000 after buying an additional 108 shares in the last quarter. Motiv8 Investments LLC bought a new position in T. Rowe Price Group in the 4th quarter valued at $35,000. Finally, Keating Financial Advisory Services Inc. bought a new position in T. Rowe Price Group in the 2nd quarter valued at $39,000. 73.39% of the stock is owned by institutional investors.

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.