Jessica M. Hiebler Sells 1,401 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) Stock

T. Rowe Price Group, Inc. (NASDAQ:TROW) insider Jessica M. Hiebler sold 1,401 shares of T. Rowe Price Group stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $115.85, for a total value of $162,305.85. Following the transaction, the insider now directly owns 14,198 shares of the company’s stock, valued at $1,644,838.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

T. Rowe Price Group Stock Performance

NASDAQ TROW traded down $1.08 during trading hours on Thursday, hitting $115.43. The company had a trading volume of 884,162 shares, compared to its average volume of 1,345,652. The firm has a 50 day simple moving average of $114.72 and a 200 day simple moving average of $112.62. T. Rowe Price Group, Inc. has a 52 week low of $87.43 and a 52 week high of $132.76. The firm has a market capitalization of $25.78 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 2.01 and a beta of 1.43.

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

T. Rowe Price Group Announces Dividend

The business also recently disclosed 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 4.30%. The ex-dividend date is Friday, June 14th. T. Rowe Price Group’s payout ratio is currently 58.91%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on TROW shares. Morgan Stanley raised their price target on T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 17th. TD Cowen upgraded shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and lifted their price objective for the company from $92.00 to $114.00 in a report on Monday, April 8th. Citigroup increased their price target on T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. UBS Group raised their target price on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research note on Friday, April 12th. Finally, Evercore ISI decreased 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 research note on Tuesday, April 30th. Four research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $112.10.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Abich Financial Wealth Management LLC boosted its stake in T. Rowe Price Group by 48.0% during the first quarter. Abich Financial Wealth Management LLC now owns 1,027 shares of the asset manager’s stock worth $125,000 after acquiring an additional 333 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in T. Rowe Price Group by 93.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 331 shares of the asset manager’s stock worth $40,000 after purchasing an additional 160 shares during the period. Verity Asset Management Inc. grew its position in T. Rowe Price Group by 4.9% during the first quarter. Verity Asset Management Inc. now owns 6,026 shares of the asset manager’s stock valued at $735,000 after buying an additional 283 shares during the period. Cetera Advisors LLC lifted its position in shares of T. Rowe Price Group by 156.3% during the 1st quarter. Cetera Advisors LLC now owns 16,826 shares of the asset manager’s stock valued at $2,051,000 after buying an additional 10,260 shares in the last quarter. Finally, Cetera Investment Advisers increased its stake in shares of T. Rowe Price Group by 175.6% in the first quarter. Cetera Investment Advisers now owns 43,261 shares of the asset manager’s stock worth $5,274,000 after purchasing an additional 27,565 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

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.