Insider Selling: T. Rowe Price Group, Inc. (NASDAQ:TROW) Insider Sells 968 Shares of Stock

T. Rowe Price Group, Inc. (NASDAQ:TROW) insider Jessica M. Hiebler sold 968 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $96.98, for a total transaction of $93,876.64. Following the sale, the insider now owns 13,611 shares in the company, valued at $1,319,994.78. This represents a 6.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

T. Rowe Price Group Price Performance

TROW opened at $97.32 on Thursday. The company has a market capitalization of $21.44 billion, a PE ratio of 10.62, a price-to-earnings-growth ratio of 2.86 and a beta of 1.50. The business has a 50-day moving average of $90.44 and a 200-day moving average of $106.00. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.10. The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.80 billion. T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. The company’s revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.38 earnings per share. On average, equities research analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be paid a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 5.22%. The ex-dividend date of this dividend is Friday, June 13th. T. Rowe Price Group’s payout ratio is presently 57.60%.

Institutional Investors Weigh In On T. Rowe Price Group

Large investors have recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of T. Rowe Price Group in the fourth quarter worth about $117,704,000. Invesco Ltd. raised its stake in shares of T. Rowe Price Group by 43.2% in the 1st quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager’s stock valued at $315,453,000 after acquiring an additional 1,035,865 shares in the last quarter. Marshall Wace LLP acquired a new stake in T. Rowe Price Group in the 4th quarter worth approximately $63,284,000. Charles Schwab Investment Management Inc. boosted its position in T. Rowe Price Group by 7.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager’s stock worth $707,973,000 after purchasing an additional 519,075 shares during the period. Finally, Fayez Sarofim & Co grew its holdings in T. Rowe Price Group by 7.6% during the fourth quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager’s stock valued at $684,474,000 after purchasing an additional 425,142 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TROW. JPMorgan Chase & Co. lowered their price objective on shares of T. Rowe Price Group from $110.00 to $90.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 16th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $113.00 price target (up previously from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Evercore ISI dropped their price target on T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating on the stock in a research report on Friday, April 11th. The Goldman Sachs Group decreased their price objective on T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating for the company in a research report on Monday, April 14th. Finally, TD Cowen lowered their target price on T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, April 9th. Four analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $94.09.

About T. Rowe Price Group

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.