Stephon Jackson Sells 3,000 Shares of T. Rowe Price Group (NASDAQ:TROW) Stock

T. Rowe Price Group, Inc. (NASDAQ:TROW) VP Stephon Jackson sold 3,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total value of $307,680.00. Following the completion of the sale, the vice president owned 83,883 shares of the company’s stock, valued at approximately $8,603,040.48. This trade represents a 3.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW traded down $0.18 during midday trading on Thursday, hitting $102.83. 669,730 shares of the company traded hands, compared to its average volume of 2,269,514. T. Rowe Price Group, Inc. has a 12-month low of $85.22 and a 12-month high of $118.22. The firm has a market cap of $22.03 billion, a P/E ratio of 11.02, a P/E/G ratio of 4.50 and a beta of 1.51. The stock has a 50-day moving average price of $94.17 and a 200 day moving average price of $99.21.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.37 by $0.15. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.85 billion. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.23 earnings per share. As a group, equities analysts expect that T. Rowe Price Group, Inc. will post 9.61 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend is Monday, June 15th. T. Rowe Price Group’s payout ratio is 55.73%.

Analysts Set New Price Targets

TROW has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft cut their price target on shares of T. Rowe Price Group from $106.00 to $100.00 and set a “hold” rating on the stock in a report on Thursday, February 5th. JPMorgan Chase & Co. dropped their price objective on T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating on the stock in a research report on Friday, April 24th. Argus upgraded shares of T. Rowe Price Group to a “hold” rating in a research note on Thursday, February 5th. Barclays raised their target price on shares of T. Rowe Price Group from $87.00 to $89.00 and gave the stock an “underweight” rating in a report on Friday, May 1st. Finally, Jefferies Financial Group dropped their price target on T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating on the stock in a research note on Wednesday, April 8th. Ten analysts have rated the stock with a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $99.54.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TROW. TD Private Client Wealth LLC boosted its position in shares of T. Rowe Price Group by 91.8% in the fourth quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock worth $26,000 after purchasing an additional 123 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of T. Rowe Price Group by 540.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock worth $29,000 after purchasing an additional 238 shares in the last quarter. Root Financial Partners LLC purchased a new position in T. Rowe Price Group in the 3rd quarter worth approximately $30,000. Canton Hathaway LLC bought a new position in T. Rowe Price Group in the 4th quarter worth approximately $31,000. Finally, Sound Income Strategies LLC grew its holdings in T. Rowe Price Group by 170.3% during the 4th quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock valued at $32,000 after buying an additional 189 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.