T. Rowe Price Group, Inc. (NASDAQ:TROW) Director Sells $344,102.44 in Stock

T. Rowe Price Group, Inc. (NASDAQ:TROW) Director Robert F. Maclellan sold 3,043 shares of T. Rowe Price Group stock in a transaction on Monday, April 29th. The stock was sold at an average price of $113.08, for a total transaction of $344,102.44. Following the transaction, the director now directly owns 34,635 shares in the company, valued at $3,916,525.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

T. Rowe Price Group Price Performance

Shares of TROW traded down $1.03 during trading hours on Tuesday, hitting $111.05. The company’s stock had a trading volume of 171,515 shares, compared to its average volume of 1,433,742. The company has a market cap of $24.84 billion, a price-to-earnings ratio of 13.17, a PEG ratio of 2.14 and a beta of 1.40. The business has a 50 day simple moving average of $115.16 and a two-hundred day simple moving average of $107.17. 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 issued its earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.34. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.80%. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the firm posted $1.69 EPS. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. Research analysts predict that T. Rowe Price Group, Inc. will post 8.36 earnings per share for the current year.

Analysts Set New Price Targets

TROW has been the topic of several analyst reports. UBS Group boosted their price target on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a report on Friday, April 12th. StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Evercore ISI dropped their price target on T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a report on Tuesday. Keefe, Bruyette & Woods raised T. Rowe Price Group from an “underperform” rating to a “market perform” rating and boosted their price objective for the stock from $106.00 to $120.00 in a research report on Thursday, April 11th. Finally, Wells Fargo & Company increased their price target on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a research report on Friday, February 9th. Four analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. According to data from MarketBeat.com, T. Rowe Price Group presently has a consensus rating of “Hold” and an average target price of $112.10.

Institutional Trading of T. Rowe Price Group

A number of institutional investors have recently added to or reduced their stakes in TROW. Simplicity Solutions LLC increased its position in shares of T. Rowe Price Group by 3.4% during the third quarter. Simplicity Solutions LLC now owns 3,391 shares of the asset manager’s stock valued at $356,000 after buying an additional 112 shares during the period. ST Germain D J Co. Inc. grew its stake in T. Rowe Price Group by 13.1% during the third quarter. ST Germain D J Co. Inc. now owns 29,211 shares of the asset manager’s stock valued at $3,063,000 after acquiring an additional 3,376 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in T. Rowe Price Group by 1.2% during the 3rd quarter. Commonwealth Equity Services LLC now owns 176,709 shares of the asset manager’s stock worth $18,532,000 after acquiring an additional 2,104 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in T. Rowe Price Group by 0.6% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 68,577 shares of the asset manager’s stock worth $7,192,000 after purchasing an additional 400 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in T. Rowe Price Group by 98.5% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 76,509 shares of the asset manager’s stock valued at $8,024,000 after purchasing an additional 37,960 shares during the period. Hedge funds and other institutional investors 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.