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

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

T. Rowe Price Group Price Performance

Shares of TROW traded up $1.85 during midday trading on Monday, hitting $103.54. The stock had a trading volume of 1,222,256 shares, compared to its average volume of 1,272,388. The firm has a market cap of $23.05 billion, a price-to-earnings ratio of 12.30, a price-to-earnings-growth ratio of 1.62 and a beta of 1.41. The company has a 50 day simple moving average of $110.47 and a two-hundred day simple moving average of $113.70. T. Rowe Price Group, Inc. has a twelve month low of $87.43 and a twelve month high of $122.27.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share for the quarter, missing the consensus estimate of $2.27 by ($0.01). T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same period in the prior year, the business posted $2.02 earnings per share. T. Rowe Price Group's quarterly revenue was up 7.6% compared to the same quarter last year. Analysts forecast that T. Rowe Price Group, Inc. will post 9 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 4.79%. The ex-dividend date is Friday, September 13th. T. Rowe Price Group's dividend payout ratio (DPR) is presently 58.91%.

Analyst Ratings Changes

TROW has been the topic of several analyst reports. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $120.00 price objective (down from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft upped their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the company a "hold" rating in a report on Thursday, August 15th. Barclays began coverage on T. Rowe Price Group in a report on Tuesday, August 27th. They set an "underweight" rating and a $99.00 target price on the stock. StockNews.com downgraded shares of T. Rowe Price Group from a "buy" rating to a "hold" rating in a research report on Monday, July 29th. Finally, Evercore ISI lowered their target price on shares of T. Rowe Price Group from $115.00 to $108.00 and set an "in-line" rating for the company in a research note on Thursday. Four investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $113.20.

Hedge Funds Weigh In On T. Rowe Price Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lynx Investment Advisory acquired a new stake in shares of T. Rowe Price Group during the 2nd quarter worth about $29,000. First United Bank & Trust acquired a new position in shares of T. Rowe Price Group in the fourth quarter valued at approximately $31,000. Family Firm Inc. bought a new position in shares of T. Rowe Price Group during the second quarter worth approximately $36,000. Versant Capital Management Inc increased its stake 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 period. Finally, EverSource Wealth Advisors LLC lifted its holdings in T. Rowe Price Group by 93.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 331 shares of the asset manager's stock worth $40,000 after purchasing an additional 160 shares during the last quarter. 73.39% of the stock is owned by institutional investors.

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.