Jessica M. Hiebler Sells 484 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) Stock

T. Rowe Price Group, Inc. (NASDAQ:TROW) insider Jessica M. Hiebler sold 484 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $104.73, for a total transaction of $50,689.32. Following the sale, the insider now directly owns 13,939 shares in the company, valued at approximately $1,459,831.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

T. Rowe Price Group Stock Up 0.2 %

TROW opened at $108.13 on Thursday. The business has a fifty day moving average of $109.13 and a 200 day moving average of $113.38. The stock has a market cap of $24.07 billion, a P/E ratio of 12.84, a PEG ratio of 1.69 and a beta of 1.41. T. Rowe Price Group, Inc. has a 52-week low of $87.43 and a 52-week high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.79 billion. T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.02 earnings per share. Equities analysts anticipate 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 declared 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. The ex-dividend date of this dividend is Friday, September 13th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.59%. T. Rowe Price Group’s payout ratio is 58.91%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group lifted its holdings in shares of T. Rowe Price Group by 1.7% in the 2nd quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group now owns 11,719 shares of the asset manager’s stock worth $1,351,000 after buying an additional 194 shares during the period. Sanctuary Advisors LLC purchased a new stake in T. Rowe Price Group in the second quarter worth about $1,567,000. Cetera Investment Advisers grew its holdings in T. Rowe Price Group by 3.2% during the 2nd quarter. Cetera Investment Advisers now owns 44,646 shares of the asset manager’s stock worth $5,148,000 after acquiring an additional 1,385 shares in the last quarter. EP Wealth Advisors LLC bought a new position in T. Rowe Price Group during the 2nd quarter worth about $419,000. Finally, Quarry LP purchased a new position in T. Rowe Price Group during the 2nd quarter valued at about $86,000. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TROW has been the topic of a number of research reports. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $120.00 target price (down from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft boosted their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Monday, July 29th. TD Cowen decreased their price target on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating on the stock in a report on Monday, July 29th. Finally, Wells Fargo & Company assumed coverage on shares of T. Rowe Price Group in a research note on Thursday, September 12th. They set an “equal weight” rating and a $109.00 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’s stock. According to data from MarketBeat.com, T. Rowe Price Group currently has a consensus rating of “Hold” and a consensus target price of $113.30.

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.