T. Rowe Price Group, Inc. (NASDAQ:TROW) Insider Sells $91,250.00 in Stock

T. Rowe Price Group, Inc. (NASDAQ:TROWGet Rating) insider Jessica M. Hiebler sold 730 shares of the business’s stock in a transaction dated Monday, May 2nd. The stock was sold at an average price of $125.00, for a total transaction of $91,250.00. Following the transaction, the insider now owns 13,089 shares in the company, valued at $1,636,125. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

NASDAQ TROW traded up $4.23 during trading on Tuesday, reaching $129.51. The company’s stock had a trading volume of 36,132 shares, compared to its average volume of 1,582,926. The firm has a market capitalization of $29.50 billion, a price-to-earnings ratio of 10.14, a price-to-earnings-growth ratio of 1.86 and a beta of 1.34. T. Rowe Price Group, Inc. has a 12 month low of $122.22 and a 12 month high of $224.55. The firm has a 50 day moving average price of $142.45 and a 200 day moving average price of $171.77.

T. Rowe Price Group (NASDAQ:TROWGet Rating) last issued its quarterly earnings results on Thursday, April 28th. The asset manager reported $2.62 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.76 by ($0.14). T. Rowe Price Group had a return on equity of 33.38% and a net margin of 37.64%. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the company posted $3.01 EPS. The business’s revenue was up 2.0% on a year-over-year basis. As a group, research analysts anticipate that T. Rowe Price Group, Inc. will post 11.15 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 30th. Stockholders of record on Tuesday, March 15th were issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date was Monday, March 14th. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.08. T. Rowe Price Group’s dividend payout ratio is 38.83%.

Several analysts recently commented on TROW shares. Morgan Stanley reduced their target price on shares of T. Rowe Price Group from $178.00 to $170.00 and set an “equal weight” rating for the company in a report on Monday, April 25th. StockNews.com started coverage on shares of T. Rowe Price Group in a report on Thursday, March 31st. They set a “hold” rating for the company. The Goldman Sachs Group downgraded shares of T. Rowe Price Group from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $190.00 to $175.00 in a report on Tuesday, January 4th. Citigroup reduced their target price on shares of T. Rowe Price Group from $110.00 to $90.00 in a report on Friday. Finally, BMO Capital Markets reduced their target price on shares of T. Rowe Price Group from $204.00 to $160.00 and set an “outperform” rating for the company in a report on Monday. Four analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $170.00.

Institutional investors have recently modified their holdings of the company. Covestor Ltd bought a new stake in shares of T. Rowe Price Group during the 4th quarter worth approximately $27,000. Rise Advisors LLC lifted its holdings in shares of T. Rowe Price Group by 645.8% during the 1st quarter. Rise Advisors LLC now owns 179 shares of the asset manager’s stock worth $27,000 after acquiring an additional 155 shares during the period. Amplius Wealth Advisors LLC bought a new stake in shares of T. Rowe Price Group during the 4th quarter worth approximately $29,000. Bivin & Associates Inc. bought a new stake in shares of T. Rowe Price Group during the 4th quarter worth approximately $29,000. Finally, Independence Bank of Kentucky bought a new stake in shares of T. Rowe Price Group during the 1st quarter worth approximately $29,000. 71.80% of the stock is owned by institutional investors.

About T. Rowe Price Group (Get Rating)

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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