Robert F. Maclellan Sells 3,043 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) Stock

T. Rowe Price Group, Inc. (NASDAQ:TROW) Director Robert F. Maclellan sold 3,043 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $113.08, for a total transaction of $344,102.44. Following the completion of the transaction, the director now owns 34,635 shares of the company’s stock, valued at approximately $3,916,525.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

T. Rowe Price Group Stock Performance

Shares of TROW opened at $110.30 on Thursday. The firm has a market capitalization of $24.63 billion, a price-to-earnings ratio of 13.10, a PEG ratio of 2.08 and a beta of 1.40. The business’s fifty day moving average price is $115.19 and its two-hundred day moving average price is $107.25. T. Rowe Price Group, Inc. has a 52 week low of $87.43 and a 52 week high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.34. The firm had revenue of $1.75 billion for 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%. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same period last year, the company earned $1.69 EPS. As a group, research analysts forecast that T. Rowe Price Group, Inc. will post 8.45 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TROW. Charles Schwab Investment Management Inc. boosted its position in shares of T. Rowe Price Group by 2.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,900,101 shares of the asset manager’s stock worth $513,874,000 after purchasing an additional 134,839 shares during the last quarter. Morgan Stanley boosted its position in shares of T. Rowe Price Group by 0.7% in the 3rd quarter. Morgan Stanley now owns 3,483,350 shares of the asset manager’s stock worth $365,299,000 after purchasing an additional 25,012 shares during the last quarter. Northern Trust Corp boosted its position in shares of T. Rowe Price Group by 4.1% in the 3rd quarter. Northern Trust Corp now owns 2,356,132 shares of the asset manager’s stock worth $247,088,000 after purchasing an additional 93,829 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of T. Rowe Price Group by 2.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,271,065 shares of the asset manager’s stock worth $238,167,000 after purchasing an additional 44,175 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its position in shares of T. Rowe Price Group by 6.7% in the 4th quarter. Fisher Asset Management LLC now owns 1,752,005 shares of the asset manager’s stock worth $188,674,000 after purchasing an additional 109,653 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TROW. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Citigroup upped their price target on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Keefe, Bruyette & Woods raised shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and upped their price target for the stock from $106.00 to $120.00 in a research note on Thursday, April 11th. Evercore ISI reduced their price target on shares of T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating for the company in a research note on Tuesday. Finally, Wells Fargo & Company upped their price target on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the stock an “underweight” rating in a research note on Friday, February 9th. Four investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $112.10.

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.