Andrew Justin Mackenzi Thomson Sells 11,969 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) Stock

T. Rowe Price Group, Inc. (NASDAQ:TROW) VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $111.82, for a total value of $1,338,373.58. Following the completion of the transaction, the vice president now owns 129,436 shares in the company, valued at approximately $14,473,533.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock opened at $112.90 on Friday. The business’s 50 day simple moving average is $114.13 and its 200 day simple moving average is $111.59. T. Rowe Price Group, Inc. has a 52-week low of $93.53 and a 52-week high of $134.64. The firm has a market cap of $25.32 billion, a PE ratio of 16.83, a P/E/G ratio of 3.36 and a beta of 1.30.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, July 28th. The asset manager reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.29. T. Rowe Price Group had a return on equity of 18.30% and a net margin of 24.73%. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same quarter last year, the firm earned $1.79 EPS. T. Rowe Price Group’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, equities research analysts predict that T. Rowe Price Group, Inc. will post 7.18 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Friday, September 15th will be given a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date is Thursday, September 14th. T. Rowe Price Group’s dividend payout ratio is presently 72.73%.

Analyst Ratings Changes

TROW has been the topic of several recent research reports. StockNews.com initiated coverage on T. Rowe Price Group in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Morgan Stanley increased their target price on T. Rowe Price Group from $108.00 to $118.00 and gave the company an “equal weight” rating in a research note on Monday, July 31st. Citigroup increased their target price on T. Rowe Price Group from $98.00 to $100.00 and gave the company a “sell” rating in a research note on Friday, July 14th. The Goldman Sachs Group increased their target price on T. Rowe Price Group from $89.50 to $100.00 and gave the company a “sell” rating in a research note on Monday, July 31st. Finally, Wells Fargo & Company increased their target price on T. Rowe Price Group from $117.00 to $123.00 and gave the company an “equal weight” rating in a research note on Monday, July 31st. Six equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $96.73.

Institutional Investors Weigh In On T. Rowe Price Group

A number of hedge funds and other institutional investors have recently bought and sold shares of TROW. Fairfield Bush & CO. acquired a new stake in T. Rowe Price Group in the 1st quarter valued at approximately $150,000. Roundview Capital LLC bought a new position in T. Rowe Price Group in the first quarter valued at approximately $2,092,000. Cibc World Market Inc. grew its stake in T. Rowe Price Group by 75.9% in the first quarter. Cibc World Market Inc. now owns 27,065 shares of the asset manager’s stock valued at $4,092,000 after purchasing an additional 11,675 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in T. Rowe Price Group by 5.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,158,038 shares of the asset manager’s stock valued at $175,099,000 after purchasing an additional 60,580 shares in the last quarter. Finally, Prudential PLC grew its stake in T. Rowe Price Group by 47.1% in the first quarter. Prudential PLC now owns 12,117 shares of the asset manager’s stock valued at $1,832,000 after purchasing an additional 3,880 shares in the last quarter. Institutional investors and hedge funds own 75.85% 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.