Insider Selling: T. Rowe Price Group, Inc. (NASDAQ:TROW) VP Sells 2,000 Shares of Stock

T. Rowe Price Group, Inc. (NASDAQ:TROW - Get Free Report) VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total value of $190,860.00. Following the completion of the transaction, the vice president now directly owns 44,789 shares in the company, valued at approximately $4,274,214.27. This trade represents a 4.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

T. Rowe Price Group Stock Performance

TROW stock traded down $1.02 on Friday, hitting $92.29. 108,884 shares of the company's stock were exchanged, compared to its average volume of 1,878,580. The firm has a 50 day moving average price of $91.43 and a two-hundred day moving average price of $102.81. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $125.81. The stock has a market cap of $20.33 billion, a P/E ratio of 10.08, a price-to-earnings-growth ratio of 2.86 and a beta of 1.49.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The asset manager reported $2.23 EPS for the quarter, topping the consensus estimate of $2.13 by $0.10. The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.80 billion. T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. The business's revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.38 earnings per share. Sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be issued a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 5.50%. The ex-dividend date is Friday, June 13th. T. Rowe Price Group's dividend payout ratio (DPR) is currently 57.60%.

Institutional Investors Weigh In On T. Rowe Price Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Amundi grew its position in T. Rowe Price Group by 30.1% during the fourth quarter. Amundi now owns 1,717,877 shares of the asset manager's stock valued at $194,064,000 after buying an additional 397,278 shares during the period. Schroder Investment Management Group grew its stake in shares of T. Rowe Price Group by 49.4% in the fourth quarter. Schroder Investment Management Group now owns 221,579 shares of the asset manager's stock valued at $25,229,000 after buying an additional 73,307 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in T. Rowe Price Group by 5.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 357,556 shares of the asset manager's stock worth $40,436,000 after purchasing an additional 20,062 shares in the last quarter. Resona Asset Management Co. Ltd. acquired a new stake in T. Rowe Price Group in the fourth quarter valued at approximately $9,590,000. Finally, GAMMA Investing LLC grew its stake in shares of T. Rowe Price Group by 9,555.5% during the first quarter. GAMMA Investing LLC now owns 333,212 shares of the asset manager's stock worth $30,612,000 after purchasing an additional 329,761 shares in the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on TROW shares. Bank of America cut their price target on T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating on the stock in a research note on Thursday, April 3rd. Evercore ISI reduced their price target on shares of T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating for the company in a report on Friday, April 11th. Cowen reaffirmed a "hold" rating on shares of T. Rowe Price Group in a research report on Monday, May 5th. The Goldman Sachs Group cut their price objective on shares of T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating on the stock in a report on Monday, April 14th. Finally, Wells Fargo & Company lowered their target price on T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Four equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $94.09.

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.