Andrew Justin Mackenzi Thomson Sells 11,891 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) Stock

T. Rowe Price Group, Inc. (NASDAQ:TROWGet Rating) VP Andrew Justin Mackenzi Thomson sold 11,891 shares of T. Rowe Price Group stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $126.91, for a total value of $1,509,086.81. Following the completion of the sale, the vice president now directly owns 136,410 shares in the company, valued at approximately $17,311,793.10. The sale was disclosed in a legal filing with the SEC, which is available at this link.

T. Rowe Price Group Stock Performance

TROW stock opened at $125.04 on Friday. T. Rowe Price Group, Inc. has a 1 year low of $104.72 and a 1 year high of $224.55. The stock’s 50 day moving average price is $118.03 and its 200 day moving average price is $133.06. The firm has a market cap of $28.22 billion, a P/E ratio of 12.07, a PEG ratio of 2.59 and a beta of 1.30.

T. Rowe Price Group (NASDAQ:TROWGet Rating) last issued its quarterly earnings results on Thursday, July 28th. The asset manager reported $1.79 earnings per share for the quarter, missing the consensus estimate of $2.64 by ($0.85). The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.68 billion. T. Rowe Price Group had a net margin of 33.26% and a return on equity of 28.18%. The company’s revenue was down 20.4% on a year-over-year basis. During the same quarter last year, the firm posted $3.31 earnings per share. On average, research analysts predict that T. Rowe Price Group, Inc. will post 8.27 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th will be issued a $1.20 dividend. The ex-dividend date is Wednesday, September 14th. This represents a $4.80 annualized dividend and a yield of 3.84%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 46.33%.

Analysts Set New Price Targets

TROW has been the topic of a number of analyst reports. The Goldman Sachs Group lowered their price objective on T. Rowe Price Group from $118.00 to $100.00 and set a “sell” rating on the stock in a report on Wednesday, June 29th. JPMorgan Chase & Co. decreased their price target on T. Rowe Price Group from $117.00 to $94.00 and set an “underweight” rating on the stock in a research note on Monday, July 18th. TheStreet lowered T. Rowe Price Group from a “b-” rating to a “c” rating in a research note on Wednesday, July 13th. Jefferies Financial Group reissued a “hold” rating and set a $156.00 price target on shares of T. Rowe Price Group in a research note on Monday, April 11th. Finally, UBS Group decreased their price target on T. Rowe Price Group from $88.00 to $84.00 and set a “sell” rating on the stock in a research note on Friday, July 29th. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $130.30.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TROW. Allspring Global Investments Holdings LLC acquired a new position in T. Rowe Price Group in the 4th quarter valued at $16,747,000. Vestmark Advisory Solutions Inc. raised its holdings in T. Rowe Price Group by 7.7% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 2,338 shares of the asset manager’s stock valued at $460,000 after acquiring an additional 167 shares during the last quarter. Qube Research & Technologies Ltd raised its holdings in T. Rowe Price Group by 81.8% in the 4th quarter. Qube Research & Technologies Ltd now owns 107,664 shares of the asset manager’s stock valued at $21,171,000 after acquiring an additional 48,438 shares during the last quarter. Atlas Capital Advisors LLC increased its holdings in shares of T. Rowe Price Group by 289.3% during the 4th quarter. Atlas Capital Advisors LLC now owns 436 shares of the asset manager’s stock worth $86,000 after buying an additional 324 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its holdings in shares of T. Rowe Price Group by 5.6% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 85,265 shares of the asset manager’s stock worth $16,767,000 after buying an additional 4,534 shares during the last quarter. 71.80% of the stock is currently owned by institutional investors and hedge funds.

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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