Robert F. Maclellan Sells 3,955 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) Stock

by · The Cerbat Gem

T. Rowe Price Group, Inc. (NASDAQ:TROW – Get Free Report) Director Robert F. Maclellan sold 3,955 shares of the stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $91.56, for a total transaction of $362,119.80. Following the completion of the sale, the director now directly owns 42,979 shares in the company, valued at $3,935,157.24. This trade represents a 8.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

T. Rowe Price Group Stock Up 1.8 %

Shares of NASDAQ:TROW opened at $93.90 on Thursday. The company has a market capitalization of $20.87 billion, a price-to-earnings ratio of 10.25, a price-to-earnings-growth ratio of 2.86 and a beta of 1.46. The firm has a 50 day moving average of $103.36 and a 200 day moving average of $110.62. T. Rowe Price Group, Inc. has a 52 week low of $89.70 and a 52 week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW – Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same period in the previous year, the firm earned $1.72 EPS. On average, sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 5.41%. The ex-dividend date of this dividend was Friday, March 14th. 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 55.46%.

Analyst Upgrades and Downgrades

TROW has been the topic of several recent analyst reports. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $113.00 price target (up from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Wells Fargo & Company reduced their target price on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. Citigroup lowered their target price on shares of T. Rowe Price Group from $120.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday. Morgan Stanley reduced their price target on shares of T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating on the stock in a research note on Monday, February 24th. Finally, Barclays lowered their price objective on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a research report on Thursday, February 6th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $111.82.

Check Out Our Latest Analysis on T. Rowe Price Group

Institutional Investors Weigh In On T. Rowe Price Group

Several institutional investors have recently bought and sold shares of the company. Glenview Trust co lifted its holdings in shares of T. Rowe Price Group by 2.2% during the 4th quarter. Glenview Trust co now owns 4,318 shares of the asset manager’s stock valued at $488,000 after purchasing an additional 92 shares during the last quarter. MCF Advisors LLC raised its stake in T. Rowe Price Group by 1.5% in the fourth quarter. MCF Advisors LLC now owns 6,226 shares of the asset manager’s stock valued at $704,000 after buying an additional 93 shares during the last quarter. Addison Advisors LLC boosted its holdings in T. Rowe Price Group by 67.4% in the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock worth $26,000 after acquiring an additional 93 shares in the last quarter. Brooklyn Investment Group grew its stake in shares of T. Rowe Price Group by 24.6% during the fourth quarter. Brooklyn Investment Group now owns 497 shares of the asset manager’s stock worth $56,000 after acquiring an additional 98 shares during the last quarter. Finally, Advantage Trust Co increased its holdings in shares of T. Rowe Price Group by 48.8% during the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock valued at $34,000 after acquiring an additional 100 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

About T. Rowe Price Group

(Get Free Report)

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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