Kenneth V. Moreland Sells 14,419 Shares of T. Rowe Price Group, Inc. (TROW) Stock
T. Rowe Price Group, Inc. (NASDAQ:TROW) CFO Kenneth V. Moreland sold 14,419 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $97.07, for a total transaction of $1,399,652.33. Following the sale, the chief financial officer now owns 125,264 shares in the company, valued at approximately $12,159,376.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of T. Rowe Price Group, Inc. (TROW) opened at $97.72 on Friday. The company has a market cap of $23,678.53, a price-to-earnings ratio of 19.09, a PEG ratio of 1.80 and a beta of 1.29. T. Rowe Price Group, Inc. has a 52-week low of $65.33 and a 52-week high of $98.01.
T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Thursday, October 26th. The asset manager reported $1.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.36 by $0.20. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. T. Rowe Price Group had a net margin of 33.10% and a return on equity of 24.76%. The company’s revenue was up 11.8% on a year-over-year basis. During the same period last year, the firm earned $1.17 EPS. equities analysts forecast that T. Rowe Price Group, Inc. will post 5.29 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, December 14th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Wednesday, December 13th. This represents a $2.28 annualized dividend and a dividend yield of 2.33%. T. Rowe Price Group’s payout ratio is 37.38%.
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TROW has been the topic of several research reports. BidaskClub cut shares of T. Rowe Price Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 1st. Zacks Investment Research upgraded shares of T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $98.00 target price on the stock in a report on Tuesday, September 26th. Wells Fargo & Company restated a “market perform” rating on shares of T. Rowe Price Group in a report on Thursday, July 27th. ValuEngine upgraded shares of T. Rowe Price Group from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Finally, Jefferies Group LLC restated a “buy” rating and issued a $96.00 target price on shares of T. Rowe Price Group in a report on Sunday, August 20th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $89.50.
Several hedge funds have recently made changes to their positions in TROW. Bronfman E.L. Rothschild L.P. increased its holdings in T. Rowe Price Group by 6.9% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,593 shares of the asset manager’s stock valued at $118,000 after acquiring an additional 103 shares during the last quarter. Signature Estate & Investment Advisors LLC bought a new stake in T. Rowe Price Group in the 3rd quarter valued at $118,000. Grove Bank & Trust increased its holdings in T. Rowe Price Group by 178.7% in the 3rd quarter. Grove Bank & Trust now owns 1,310 shares of the asset manager’s stock valued at $119,000 after acquiring an additional 840 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in T. Rowe Price Group by 5.4% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,749 shares of the asset manager’s stock valued at $121,000 after acquiring an additional 89 shares during the last quarter. Finally, Sun Life Financial INC increased its holdings in T. Rowe Price Group by 19,500.0% in the 2nd quarter. Sun Life Financial INC now owns 1,764 shares of the asset manager’s stock valued at $131,000 after acquiring an additional 1,755 shares during the last quarter. Hedge funds and other institutional investors own 72.60% of the company’s stock.
T. Rowe Price Group Company Profile
T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.
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