Insider Selling: T. Rowe Price Group, Inc. (NASDAQ:TROW) Director Sells 3,955 Shares of Stock

T. Rowe Price Group, Inc. (NASDAQ:TROW) Director Robert F. Maclellan sold 3,955 shares of the company’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $91.56, for a total transaction of $362,119.80. Following the transaction, the director now directly owns 42,979 shares of the company’s stock, valued at approximately $3,935,157.24. This trade represents a 8.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

T. Rowe Price Group Trading Up 0.4 %

NASDAQ:TROW opened at $92.27 on Wednesday. The company has a market cap of $20.51 billion, a PE ratio of 10.07, a price-to-earnings-growth ratio of 2.86 and a beta of 1.46. The company has a 50 day simple moving average of $103.75 and a two-hundred day simple moving average of $110.74. T. Rowe Price Group, Inc. has a 12 month low of $89.70 and a 12 month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 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 20.83%. During the same period in the previous year, the firm posted $1.72 EPS. Research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $1.27 dividend. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend was Friday, March 14th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.51%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 55.46%.

Institutional Trading of T. Rowe Price Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TROW. Addison Advisors LLC grew its position in shares of T. Rowe Price Group by 67.4% during the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 93 shares during the period. Curio Wealth LLC purchased a new position in T. Rowe Price Group during the fourth quarter valued at $27,000. Y.D. More Investments Ltd grew its holdings in T. Rowe Price Group by 124.0% during the fourth quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 155 shares during the period. Stonebridge Financial Group LLC bought a new stake in T. Rowe Price Group during the fourth quarter valued at about $32,000. Finally, Advantage Trust Co raised its stake in shares of T. Rowe Price Group by 48.8% in the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock worth $34,000 after buying an additional 100 shares during the period. 73.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on TROW. Wells Fargo & Company decreased their target price on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. 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 report on Monday, February 24th. Citigroup lowered their target price on T. Rowe Price Group from $120.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $113.00 target price (up from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $111.82.

T. Rowe Price Group Company Profile

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.