Insider Selling: T. Rowe Price Group, Inc. (NASDAQ:TROW) VP Sells 4,112 Shares of Stock

T. Rowe Price Group, Inc. (NASDAQ:TROW) VP Arif Husain sold 4,112 shares of the firm’s stock in a transaction dated 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 owns 36,800 shares in the company, valued at approximately $4,021,136. The trade was a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

T. Rowe Price Group Trading Down 0.1 %

Shares of NASDAQ TROW opened at $107.17 on Friday. T. Rowe Price Group, Inc. has a twelve month low of $100.49 and a twelve month high of $125.81. The company has a market capitalization of $23.81 billion, a price-to-earnings ratio of 11.70, 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 $114.54 and a 200-day simple moving average of $112.40.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data 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 last year, the business posted $1.72 EPS. As a group, equities analysts predict that T. Rowe Price Group, Inc. will post 9.36 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TROW. Nilsine Partners LLC boosted its position in T. Rowe Price Group by 75.5% during the 4th quarter. Nilsine Partners LLC now owns 5,509 shares of the asset manager’s stock worth $623,000 after acquiring an additional 2,370 shares during the period. Principal Financial Group Inc. boosted its position in T. Rowe Price Group by 2.8% during the 3rd quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager’s stock worth $30,062,000 after acquiring an additional 7,503 shares during the period. Janus Henderson Group PLC boosted its position in T. Rowe Price Group by 3.8% during the 3rd quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager’s stock worth $3,267,000 after acquiring an additional 1,100 shares during the period. Aigen Investment Management LP acquired a new position in T. Rowe Price Group during the 3rd quarter worth $516,000. Finally, Charles Schwab Investment Management Inc. boosted its position in T. Rowe Price Group by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock worth $745,169,000 after acquiring an additional 231,286 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on TROW shares. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $113.00 target price (up from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Wells Fargo & Company dropped their price objective on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. JPMorgan Chase & Co. dropped their price objective on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Barclays dropped their price objective on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a report on Thursday, February 6th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective 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 investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $115.09.

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.