William J. Stromberg Sells 10,000 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) Stock

T. Rowe Price Group, Inc. (NASDAQ:TROWGet Rating) insider William J. Stromberg sold 10,000 shares of the firm’s stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $124.15, for a total value of $1,241,500.00. Following the completion of the sale, the insider now owns 41,000 shares of the company’s stock, valued at $5,090,150. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

T. Rowe Price Group Stock Down 2.0 %

Shares of TROW stock opened at $123.87 on Thursday. The company has a 50 day moving average of $109.86 and a 200-day moving average of $117.06. T. Rowe Price Group, Inc. has a 12-month low of $93.53 and a 12-month high of $215.01. The firm has a market cap of $27.68 billion, a P/E ratio of 14.22, a PEG ratio of 3.43 and a beta of 1.25.

T. Rowe Price Group (NASDAQ:TROWGet Rating) last issued its quarterly earnings results on Thursday, October 27th. The asset manager reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.03. T. Rowe Price Group had a net margin of 29.35% and a return on equity of 23.88%. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter last year, the business posted $3.27 EPS. T. Rowe Price Group’s quarterly revenue was down 18.7% compared to the same quarter last year. As a group, equities analysts expect that T. Rowe Price Group, Inc. will post 7.9 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 29th. Investors of record on Friday, December 16th will be paid a $1.20 dividend. The ex-dividend date of this dividend is Thursday, December 15th. This represents a $4.80 dividend on an annualized basis and a yield of 3.88%. T. Rowe Price Group’s dividend payout ratio is 55.11%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TROW. Zullo Investment Group Inc. grew its position in shares of T. Rowe Price Group by 164.6% during the 3rd quarter. Zullo Investment Group Inc. now owns 254 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 158 shares in the last quarter. Oakworth Capital Inc. bought a new stake in T. Rowe Price Group in the third quarter worth $28,000. Jones Financial Companies Lllp lifted its stake in T. Rowe Price Group by 114.6% in the first quarter. Jones Financial Companies Lllp now owns 191 shares of the asset manager’s stock worth $29,000 after purchasing an additional 102 shares during the last quarter. Eisler Capital UK Ltd. bought a new position in shares of T. Rowe Price Group during the third quarter valued at about $29,000. Finally, Artemis Wealth Advisors LLC raised its stake in shares of T. Rowe Price Group by 39.7% during the second quarter. Artemis Wealth Advisors LLC now owns 292 shares of the asset manager’s stock valued at $33,000 after acquiring an additional 83 shares during the last quarter. 74.94% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Credit Suisse Group assumed coverage on T. Rowe Price Group in a research note on Wednesday, October 19th. They issued an “underperform” rating and a $70.00 target price for the company. Morgan Stanley dropped their price target on shares of T. Rowe Price Group from $105.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Monday, October 31st. StockNews.com assumed coverage on shares of T. Rowe Price Group in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of T. Rowe Price Group from $97.00 to $123.00 and gave the company a “hold” rating in a research report on Tuesday. Finally, UBS Group dropped their price target on shares of T. Rowe Price Group from $88.00 to $84.00 and set a “sell” rating on the stock in a research report on Friday, July 29th. Six investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $114.30.

T. Rowe Price Group Company Profile

(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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Insider Buying and Selling by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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