T. Rowe Price Group, Inc. (NASDAQ:TROW) Insider Jessica M. Hiebler Sells 1,401 Shares

T. Rowe Price Group, Inc. (NASDAQ:TROW - Get Free Report) insider Jessica M. Hiebler sold 1,401 shares of the company's stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $115.85, for a total value of $162,305.85. Following the transaction, the insider now directly owns 14,198 shares in the company, valued at approximately $1,644,838.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock traded down $1.08 during mid-day trading on Thursday, reaching $115.43. 884,162 shares of the company were exchanged, compared to its average volume of 1,345,652. The business has a fifty day moving average of $114.72 and a 200 day moving average of $112.62. The firm has a market cap of $25.78 billion, a P/E ratio of 13.71, a PEG ratio of 2.01 and a beta of 1.43. T. Rowe Price Group, Inc. has a 12-month low of $87.43 and a 12-month high of $132.76.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share for the quarter, topping analysts' consensus estimates of $2.04 by $0.34. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.71 billion. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. T. Rowe Price Group's revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.69 earnings per share. Sell-side analysts predict that T. Rowe Price Group, Inc. will post 8.84 EPS for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, June 14th will be issued a dividend of $1.24 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $4.96 annualized dividend and a dividend yield of 4.30%. T. Rowe Price Group's dividend payout ratio is presently 58.91%.

Institutional Trading of T. Rowe Price Group

Several hedge funds and other institutional investors have recently made changes to their positions in TROW. Creative Financial Designs Inc. ADV lifted its holdings in shares of T. Rowe Price Group by 83.5% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager's stock valued at $25,000 after purchasing an additional 106 shares during the last quarter. First United Bank & Trust purchased a new stake in shares of T. Rowe Price Group during the 4th quarter valued at $31,000. Park Place Capital Corp lifted its holdings in shares of T. Rowe Price Group by 1,775.0% during the 4th quarter. Park Place Capital Corp now owns 300 shares of the asset manager's stock valued at $32,000 after purchasing an additional 284 shares during the last quarter. Fortitude Family Office LLC purchased a new stake in shares of T. Rowe Price Group during the 4th quarter valued at $33,000. Finally, CVA Family Office LLC acquired a new position in shares of T. Rowe Price Group in the 4th quarter valued at $39,000. Hedge funds and other institutional investors own 73.39% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TROW. Evercore ISI cut their target price on T. Rowe Price Group from $110.00 to $107.00 and set an "in-line" rating on the stock in a research note on Tuesday, April 30th. TD Cowen raised T. Rowe Price Group from a "sell" rating to a "hold" rating and increased their price objective for the stock from $92.00 to $114.00 in a research note on Monday, April 8th. JPMorgan Chase & Co. increased their price objective on T. Rowe Price Group from $94.00 to $103.00 and gave the stock an "underweight" rating in a research note on Tuesday, April 16th. UBS Group increased their price objective on T. Rowe Price Group from $100.00 to $109.00 and gave the stock a "sell" rating in a research note on Friday, April 12th. Finally, Keefe, Bruyette & Woods raised T. Rowe Price Group from an "underperform" rating to a "market perform" rating and increased their price objective for the stock from $106.00 to $120.00 in a research note on Thursday, April 11th. Four equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat.com, T. Rowe Price Group currently has a consensus rating of "Hold" and an average target price of $112.10.

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.