T. Rowe Price Group, Inc. (NASDAQ:TROW - Get Free Report) insider Jessica M. Hiebler sold 484 shares of the firm's stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the transaction, the insider now owns 13,939 shares of the company's stock, valued at approximately $1,459,831.47. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
T. Rowe Price Group Stock Performance
Shares of TROW stock traded up $1.30 during mid-day trading on Monday, hitting $105.87. The company's stock had a trading volume of 1,234,494 shares, compared to its average volume of 1,271,908. T. Rowe Price Group, Inc. has a 52-week low of $87.43 and a 52-week high of $122.27. The business has a 50-day moving average price of $109.60 and a 200 day moving average price of $113.51. The stock has a market cap of $23.57 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 1.67 and a beta of 1.41.
T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly 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 return on equity of 19.90% and a net margin of 28.66%. The business had revenue of $1.73 billion during the quarter, compared to analysts' expectations of $1.79 billion. During the same quarter in the prior year, the firm earned $2.02 EPS. The firm's revenue for the quarter was up 7.6% compared to the same quarter last year. Equities research analysts predict that T. Rowe Price Group, Inc. will post 9 EPS for the current fiscal year.
T. Rowe Price Group Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 4.69%. The ex-dividend date of this dividend is Friday, September 13th. T. Rowe Price Group's payout ratio is currently 58.91%.
Institutional Trading of T. Rowe Price Group
Large investors have recently modified their holdings of the company. Lynx Investment Advisory bought a new stake in shares of T. Rowe Price Group in the second quarter worth $29,000. Family Firm Inc. bought a new stake in shares of T. Rowe Price Group in the second quarter worth $36,000. Versant Capital Management Inc grew its holdings in 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 valued at $38,000 after purchasing an additional 284 shares during the period. EverSource Wealth Advisors LLC grew its holdings in T. Rowe Price Group by 93.6% during the first quarter. EverSource Wealth Advisors LLC now owns 331 shares of the asset manager's stock valued at $40,000 after purchasing an additional 160 shares during the period. Finally, Riverview Trust Co grew its holdings in T. Rowe Price Group by 136.4% during the second quarter. Riverview Trust Co now owns 357 shares of the asset manager's stock valued at $41,000 after purchasing an additional 206 shares during the period. Institutional investors own 73.39% of the company's stock.
Analysts Set New Price Targets
A number of research analysts have recently commented on TROW shares. Evercore ISI lowered their target price on 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, September 5th. Wells Fargo & Company started coverage on T. Rowe Price Group in a research note on Thursday. They issued an "equal weight" rating and a $109.00 target price for the company. StockNews.com cut T. Rowe Price Group from a "buy" rating to a "hold" rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft lifted their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the company a "hold" rating in a research note on Thursday, August 15th. Finally, Barclays started coverage on T. Rowe Price Group in a research note on Tuesday, August 27th. They set an "underweight" rating and a $99.00 price objective for the company. Three analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat.com, T. Rowe Price Group presently has an average rating of "Hold" and an average price target of $113.30.
Get Our Latest Stock Analysis on TROW
T. Rowe Price Group Company Profile
(
Get Free Report)
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.
Recommended Stories
Before you consider T. Rowe Price Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and T. Rowe Price Group wasn't on the list.
While T. Rowe Price Group currently has a "Reduce" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
