T. Rowe Price Group, Inc. (NASDAQ:TROW) Director Robert F. Maclellan Sells 3,043 Shares of Stock

T. Rowe Price Group, Inc. (NASDAQ:TROW) Director Robert F. Maclellan sold 3,043 shares of the stock in a transaction on Monday, April 29th. The shares were sold at an average price of $113.08, for a total value of $344,102.44. Following the completion of the sale, the director now directly owns 34,635 shares of the company’s stock, valued at $3,916,525.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

T. Rowe Price Group Stock Performance

TROW stock opened at $109.57 on Wednesday. The company has a market capitalization of $24.50 billion, a price-to-earnings ratio of 13.01, a PEG ratio of 2.14 and a beta of 1.40. T. Rowe Price Group, Inc. has a fifty-two week low of $87.43 and a fifty-two week high of $132.76. The stock has a fifty day moving average of $115.17 and a 200-day moving average of $107.23.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.34. T. Rowe Price Group had a return on equity of 19.80% and a net margin of 29.09%. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the prior year, the company earned $1.69 EPS. The firm’s quarterly revenue was up 13.8% compared to the same quarter last year. Equities analysts predict that T. Rowe Price Group, Inc. will post 8.36 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Simmons Bank boosted its stake in T. Rowe Price Group by 23.0% in the 3rd quarter. Simmons Bank now owns 3,503 shares of the asset manager’s stock worth $367,000 after purchasing an additional 656 shares during the period. L. Roy Papp & Associates LLP raised its holdings in shares of T. Rowe Price Group by 5.8% in the 4th quarter. L. Roy Papp & Associates LLP now owns 158,875 shares of the asset manager’s stock valued at $17,109,000 after acquiring an additional 8,773 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of T. Rowe Price Group by 3.5% in the 4th quarter. Nordea Investment Management AB now owns 317,349 shares of the asset manager’s stock valued at $34,299,000 after acquiring an additional 10,680 shares in the last quarter. Vest Financial LLC raised its holdings in shares of T. Rowe Price Group by 48.8% in the 4th quarter. Vest Financial LLC now owns 280,552 shares of the asset manager’s stock valued at $30,213,000 after acquiring an additional 92,059 shares in the last quarter. Finally, Cullen Investment Group LTD. purchased a new stake in shares of T. Rowe Price Group in the 4th quarter valued at about $953,000. Institutional investors own 73.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on TROW shares. Morgan Stanley increased their price target on T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 17th. Citigroup upped their price objective on T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Keefe, Bruyette & Woods upgraded T. Rowe Price Group from an “underperform” rating to a “market perform” rating and upped their price objective for the company from $106.00 to $120.00 in a research note on Thursday, April 11th. JPMorgan Chase & Co. upped their price objective on T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a research note on Tuesday, April 16th. Finally, UBS Group upped their price objective on T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research note on Friday, April 12th. Four analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat, T. Rowe Price Group presently has an average rating of “Hold” and an average price target of $112.10.

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.