T. Rowe Price Group, Inc. (NASDAQ:TROW - Get Free Report) Director Robert F. Maclellan sold 3,955 shares of the stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $91.56, for a total transaction of $362,119.80. Following the completion of the transaction, the director now directly owns 42,979 shares in the company, valued at approximately $3,935,157.24. This represents a 8.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
T. Rowe Price Group Stock Performance
Shares of TROW stock traded down $2.76 on Friday, hitting $83.46. The company had a trading volume of 724,227 shares, compared to its average volume of 1,376,454. The stock's 50-day moving average is $102.82 and its two-hundred day moving average is $110.45. T. Rowe Price Group, Inc. has a twelve month low of $82.50 and a twelve month high of $125.81. The firm has a market cap of $18.55 billion, a P/E ratio of 9.11, a P/E/G ratio of 2.86 and a beta of 1.50.
T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing analysts' consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same quarter in the prior year, the company posted $1.72 EPS. Equities research analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.
T. Rowe Price Group Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a $1.27 dividend. The ex-dividend date was Friday, March 14th. This is a positive change from T. Rowe Price Group's previous quarterly dividend of $1.24. This represents a $5.08 annualized dividend and a yield of 6.09%. T. Rowe Price Group's payout ratio is 55.46%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on TROW. StockNews.com lowered T. Rowe Price Group from a "buy" rating to a "hold" rating in a research note on Sunday, February 2nd. Wells Fargo & Company cut their price objective on shares of T. Rowe Price Group from $118.00 to $116.00 and set an "equal weight" rating for the company in a report on Thursday, February 6th. Morgan Stanley lowered their price objective on T. Rowe Price Group from $126.00 to $121.00 and set an "equal weight" rating on the stock in a research note on Monday, February 24th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $113.00 price objective (up from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Finally, Bank of America dropped their target price on shares of T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating for the company in a report on Thursday. Five research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $108.50.
View Our Latest Report on TROW
Institutional Trading of T. Rowe Price Group
Several large investors have recently modified their holdings of TROW. Addison Advisors LLC increased its stake in T. Rowe Price Group by 67.4% in the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager's stock valued at $26,000 after purchasing an additional 93 shares in the last quarter. Curio Wealth LLC bought a new stake in T. Rowe Price Group in the 4th quarter valued at about $27,000. Y.D. More Investments Ltd raised its stake in T. Rowe Price Group by 124.0% during the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager's stock worth $32,000 after buying an additional 155 shares during the period. Stonebridge Financial Group LLC acquired a new stake in T. Rowe Price Group in the fourth quarter valued at approximately $32,000. Finally, Advantage Trust Co lifted its holdings in shares of T. Rowe Price Group by 48.8% in the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager's stock worth $34,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company's stock.
About T. Rowe Price Group
(
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.
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