T. Rowe Price Group, Inc. (NASDAQ:TROW) VP Dorothy C. Sawyer Sells 2,000 Shares

T. Rowe Price Group, Inc. (NASDAQ:TROW) VP Dorothy C. Sawyer sold 2,000 shares of the company’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total transaction of $234,000.00. Following the completion of the sale, the vice president now directly owns 34,710 shares of the company’s stock, valued at $4,061,070. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

T. Rowe Price Group Stock Up 0.5 %

TROW stock opened at $117.57 on Wednesday. The firm has a 50 day moving average of $114.32 and a 200 day moving average of $111.96. The stock has a market capitalization of $26.25 billion, a PE ratio of 13.96, a price-to-earnings-growth ratio of 2.00 and a beta of 1.43. T. Rowe Price Group, Inc. has a 52 week low of $87.43 and a 52 week high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.34. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.71 billion. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. T. Rowe Price Group’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same period last year, the business earned $1.69 EPS. On average, equities research analysts expect that T. Rowe Price Group, Inc. will post 8.84 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Friday, June 14th will be given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date is Friday, June 14th. T. Rowe Price Group’s dividend payout ratio is presently 58.91%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on TROW shares. Morgan Stanley upped their price objective on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 17th. Evercore ISI lowered their price target on shares of T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a report on Tuesday, April 30th. Citigroup raised their price target on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Keefe, Bruyette & Woods upgraded shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and raised their price target for the company from $106.00 to $120.00 in a report on Thursday, April 11th. Finally, UBS Group raised their price target on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a report on Friday, April 12th. Four research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $112.10.

Hedge Funds Weigh In On T. Rowe Price Group

A number of institutional investors have recently bought and sold shares of TROW. Creative Financial Designs Inc. ADV raised its position in T. Rowe Price Group by 83.5% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock worth $25,000 after buying an additional 106 shares during the last quarter. First United Bank & Trust purchased a new position in T. Rowe Price Group during the 4th quarter worth approximately $31,000. Park Place Capital Corp raised its position in T. Rowe Price Group by 1,775.0% during the 4th quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock worth $32,000 after buying an additional 284 shares during the last quarter. Fortitude Family Office LLC purchased a new position in T. Rowe Price Group during the 4th quarter worth approximately $33,000. Finally, CVA Family Office LLC purchased a new position in shares of T. Rowe Price Group during the 4th quarter valued at approximately $39,000. 73.39% of the stock is owned by hedge funds and other 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.