Insider Selling: T. Rowe Price Group, Inc. (NASDAQ:TROW) Insider Sells $162,305.85 in Stock

T. Rowe Price Group, Inc. (NASDAQ:TROW) insider Jessica M. Hiebler sold 1,401 shares of the company’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $115.85, for a total transaction of $162,305.85. Following the completion of the sale, the insider now directly owns 14,198 shares in the company, valued at $1,644,838.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

T. Rowe Price Group Trading Down 0.1 %

TROW opened at $115.31 on Friday. The company’s fifty day moving average price is $114.98 and its two-hundred day moving average price is $112.85. T. Rowe Price Group, Inc. has a 1-year low of $87.43 and a 1-year high of $132.76. The company has a market cap of $25.75 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 1.97 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, beating the consensus estimate of $2.04 by $0.34. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.71 billion. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.69 earnings per share. As a group, equities analysts forecast that T. Rowe Price Group, Inc. will post 8.84 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Friday, June 14th were issued a $1.24 dividend. The ex-dividend date was Friday, June 14th. This represents a $4.96 annualized dividend and a dividend yield of 4.30%. T. Rowe Price Group’s dividend payout ratio is currently 58.91%.

Wall Street Analyst Weigh In

TROW has been the topic of several research analyst reports. Keefe, Bruyette & Woods raised shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and increased their target price for the stock from $106.00 to $120.00 in a research note on Thursday, April 11th. UBS Group increased their target price on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a research note on Friday, April 12th. Evercore ISI cut their target price on shares of T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 30th. Citigroup increased their target price 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. Finally, TD Cowen raised shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and increased their target price for the stock from $92.00 to $114.00 in a research note on Monday, April 8th. Four analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $112.10.

Institutional Trading of T. Rowe Price Group

Several institutional investors and hedge funds have recently made changes to their positions in TROW. Creative Financial Designs Inc. ADV raised its holdings in shares of T. Rowe Price Group by 83.5% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 106 shares during the last quarter. First United Bank & Trust purchased a new stake in shares of T. Rowe Price Group in the fourth quarter valued at about $31,000. Park Place Capital Corp raised its holdings in shares of T. Rowe Price Group by 1,775.0% in the fourth quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 284 shares during the last quarter. Fortitude Family Office LLC purchased a new stake in shares of T. Rowe Price Group in the fourth quarter valued at about $33,000. Finally, CVA Family Office LLC purchased a new stake in shares of T. Rowe Price Group in the fourth quarter valued at about $39,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

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.