T. Rowe Price Group, Inc. (NASDAQ:TROW) VP Sells $449,318.24 in Stock

T. Rowe Price Group, Inc. (NASDAQ:TROW) VP Arif Husain sold 4,112 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value of $449,318.24. Following the sale, the vice president now directly owns 36,800 shares of the company’s stock, valued at $4,021,136. This represents a 10.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

T. Rowe Price Group Stock Up 0.3 %

TROW stock opened at $107.24 on Friday. The company has a market cap of $23.82 billion, a PE ratio of 11.71, a price-to-earnings-growth ratio of 1.70 and a beta of 1.44. The business has a 50-day simple moving average of $114.89 and a 200 day simple moving average of $112.44. T. Rowe Price Group, Inc. has a 52 week low of $100.49 and a 52 week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.91%. During the same period in the prior year, the firm posted $1.72 earnings per share. On average, analysts anticipate that T. Rowe Price Group, Inc. will post 9.36 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s payout ratio is currently 54.15%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TROW. Barclays cut their price target on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Wells Fargo & Company dropped their target price on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Evercore ISI lifted their target price on T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $115.09.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of T. Rowe Price Group by 437.7% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,597 shares of the asset manager’s stock worth $174,000 after purchasing an additional 1,300 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in shares of T. Rowe Price Group during the third quarter worth about $105,000. Creative Planning grew its holdings in shares of T. Rowe Price Group by 0.3% during the third quarter. Creative Planning now owns 55,324 shares of the asset manager’s stock worth $6,026,000 after purchasing an additional 177 shares during the last quarter. Brady Family Wealth LLC grew its holdings in shares of T. Rowe Price Group by 0.6% during the third quarter. Brady Family Wealth LLC now owns 22,009 shares of the asset manager’s stock worth $2,397,000 after purchasing an additional 125 shares during the last quarter. Finally, Bourne Lent Asset Management Inc. grew its holdings in shares of T. Rowe Price Group by 1.1% during the third quarter. Bourne Lent Asset Management Inc. now owns 9,067 shares of the asset manager’s stock worth $988,000 after purchasing an additional 100 shares during the last quarter. 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.