T. Rowe Price Group, Inc. (TROW) Director Freeman A. Hrabowski III Sells 4,000 Shares of Stock
T. Rowe Price Group, Inc. (NASDAQ:TROW) Director Freeman A. Hrabowski III sold 4,000 shares of the business’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $101.59, for a total transaction of $406,360.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
T. Rowe Price Group, Inc. (TROW) traded up $0.98 during trading hours on Friday, reaching $102.57. 4,293,882 shares of the company traded hands, compared to its average volume of 1,442,662. T. Rowe Price Group, Inc. has a 52-week low of $65.33 and a 52-week high of $104.40. The firm has a market capitalization of $24,616.27, a price-to-earnings ratio of 19.84, a PEG ratio of 1.87 and a beta of 1.32.
T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Thursday, October 26th. The asset manager reported $1.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.36 by $0.20. T. Rowe Price Group had a net margin of 33.10% and a return on equity of 24.76%. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the business posted $1.17 earnings per share. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. research analysts forecast that T. Rowe Price Group, Inc. will post 5.29 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Thursday, December 14th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend is Wednesday, December 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 37.38%.
Large investors have recently bought and sold shares of the stock. Signature Estate & Investment Advisors LLC acquired a new stake in shares of T. Rowe Price Group during the third quarter worth approximately $118,000. Grove Bank & Trust increased its holdings in shares of T. Rowe Price Group by 178.7% during the third quarter. Grove Bank & Trust now owns 1,310 shares of the asset manager’s stock worth $119,000 after buying an additional 840 shares in the last quarter. Bronfman E.L. Rothschild L.P. grew its stake in shares of T. Rowe Price Group by 6.9% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,593 shares of the asset manager’s stock valued at $118,000 after purchasing an additional 103 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of T. Rowe Price Group by 5.4% during the second quarter. Quadrant Capital Group LLC now owns 1,749 shares of the asset manager’s stock valued at $121,000 after purchasing an additional 89 shares during the last quarter. Finally, Sun Life Financial INC grew its stake in shares of T. Rowe Price Group by 19,500.0% during the second quarter. Sun Life Financial INC now owns 1,764 shares of the asset manager’s stock valued at $131,000 after purchasing an additional 1,755 shares during the last quarter. 72.21% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts recently issued reports on TROW shares. Jefferies Group reiterated a “buy” rating and issued a $96.00 price objective on shares of T. Rowe Price Group in a report on Sunday, August 20th. Zacks Investment Research cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Monday, August 21st. Barclays assumed coverage on shares of T. Rowe Price Group in a report on Friday, September 8th. They set an “underweight” rating and a $79.00 price target for the company. Goldman Sachs Group upgraded shares of T. Rowe Price Group from a “neutral” rating to a “buy” rating and upped their price target for the company from $85.00 to $100.00 in a report on Thursday, September 28th. Finally, Morgan Stanley upgraded shares of T. Rowe Price Group from an “underweight” rating to an “equal” rating and upped their price target for the company from $77.00 to $93.00 in a report on Thursday, October 5th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $89.67.
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About T. Rowe Price Group
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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