Andrew Justin Mackenzi Thomson Sells 4,047 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) Stock

T. Rowe Price Group, Inc. (NASDAQ:TROW) VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value of $499,197.45. Following the sale, the vice president now owns 119,577 shares in the company, valued at $14,749,822.95. The trade was a 3.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

T. Rowe Price Group Price Performance

Shares of TROW stock opened at $119.54 on Friday. T. Rowe Price Group, Inc. has a 12-month low of $100.49 and a 12-month high of $125.81. The firm has a market capitalization of $26.56 billion, a price-to-earnings ratio of 13.08, a price-to-earnings-growth ratio of 1.72 and a beta of 1.42. The business has a 50 day simple moving average of $116.67 and a 200 day simple moving average of $113.26.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the prior year, the business posted $2.17 earnings per share. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, equities analysts anticipate that T. Rowe Price Group, Inc. will post 9.39 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a dividend of $1.24 per share. The ex-dividend date is Friday, December 13th. This represents a $4.96 annualized dividend and a yield of 4.15%. T. Rowe Price Group’s payout ratio is 54.27%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TROW. The Goldman Sachs Group dropped their price target on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research report on Thursday, October 3rd. Evercore ISI raised their price target on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research report on Monday, November 11th. TD Cowen dropped their price objective on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. decreased their target price on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $117.09.

Institutional Trading of T. Rowe Price Group

A number of hedge funds and other institutional investors have recently made changes to their positions in TROW. Iron Horse Wealth Management LLC increased its stake in shares of T. Rowe Price Group by 90.9% during the third quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 110 shares during the period. Hexagon Capital Partners LLC increased its position in shares of T. Rowe Price Group by 54.7% during the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 104 shares during the period. Family Firm Inc. bought a new stake in shares of T. Rowe Price Group in the 2nd quarter worth $36,000. True Wealth Design LLC acquired a new stake in shares of T. Rowe Price Group in the third quarter valued at $37,000. Finally, Larson Financial Group LLC boosted its stake in T. Rowe Price Group by 866.7% during the third quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock valued at $38,000 after buying an additional 312 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors.

About T. Rowe Price Group

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.