T. Rowe Price Group (NASDAQ:TROW) Director Robert Maclellan Sells 3,090 Shares

Key Points

• Robert Maclellan, a director at T. Rowe Price Group, sold 3,090 shares of the company's stock for approximately $324,480.90, reducing his ownership by 6.13%.
• The company recently announced a quarterly dividend of $1.27 per share, which corresponds to an annualized dividend of $5.08 and a yield of 4.8%.
• T. Rowe Price Group's earnings report indicated an EPS of $2.24, exceeding estimates, but revenue was down 0.6% year-over-year.

T. Rowe Price Group, Inc. (NASDAQ:TROW - Get Free Report) Director Robert Maclellan sold 3,090 shares of the firm's stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $105.01, for a total transaction of $324,480.90. Following the transaction, the director directly owned 47,335 shares of the company's stock, valued at approximately $4,970,648.35. This trade represents a 6.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

T. Rowe Price Group Stock Up 0.1%

Shares of TROW traded up $0.10 during mid-day trading on Tuesday, reaching $105.39. 88,748 shares of the company's stock were exchanged, compared to its average volume of 1,760,391. The company has a market cap of $23.16 billion, a price-to-earnings ratio of 11.78, a PEG ratio of 2.75 and a beta of 1.51. T. Rowe Price Group, Inc. has a 52-week low of $77.85 and a 52-week high of $125.81. The company has a 50-day simple moving average of $106.15 and a two-hundred day simple moving average of $97.58.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its earnings results on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, topping the consensus estimate of $2.15 by $0.09. The firm had revenue of $1.72 billion during the quarter, compared to analysts' expectations of $1.72 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. T. Rowe Price Group's revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the company earned $2.26 EPS. As a group, equities research analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be paid a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Monday, September 15th. T. Rowe Price Group's payout ratio is presently 56.76%.

Wall Street Analyst Weigh In

Several research firms have commented on TROW. Wells Fargo & Company lifted their target price on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the stock an "equal weight" rating in a research note on Friday, July 11th. Morgan Stanley lifted their target price on shares of T. Rowe Price Group from $112.00 to $116.00 and gave the stock an "equal weight" rating in a research note on Monday, August 4th. Zacks Research cut shares of T. Rowe Price Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 8th. Keefe, Bruyette & Woods boosted their price objective on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the company a "market perform" rating in a research note on Monday, August 4th. Finally, Barclays reissued an "underweight" rating and set a $95.00 price objective (up from $91.00) on shares of T. Rowe Price Group in a research note on Monday, August 4th. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, T. Rowe Price Group currently has a consensus rating of "Reduce" and an average price target of $101.55.

Hedge Funds Weigh In On T. Rowe Price Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Tidal Investments LLC lifted its holdings in T. Rowe Price Group by 8.7% in the 4th quarter. Tidal Investments LLC now owns 7,109 shares of the asset manager's stock worth $804,000 after buying an additional 568 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in T. Rowe Price Group by 82.5% in the 4th quarter. Two Sigma Advisers LP now owns 18,800 shares of the asset manager's stock worth $2,126,000 after buying an additional 8,500 shares in the last quarter. Woodline Partners LP bought a new stake in shares of T. Rowe Price Group in the 4th quarter worth about $1,509,000. Sunbelt Securities Inc. increased its position in shares of T. Rowe Price Group by 23.4% in the 4th quarter. Sunbelt Securities Inc. now owns 3,242 shares of the asset manager's stock worth $369,000 after purchasing an additional 614 shares during the last quarter. Finally, Toronto Dominion Bank increased its position in shares of T. Rowe Price Group by 39.9% in the 4th quarter. Toronto Dominion Bank now owns 104,835 shares of the asset manager's stock worth $11,856,000 after purchasing an additional 29,908 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company's stock.

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.

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