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 the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total transaction of $162,305.85. Following the completion of the sale, the insider now owns 14,198 shares in the company, valued at approximately $1,644,838.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

T. Rowe Price Group Price Performance

T. Rowe Price Group stock opened at $115.31 on Friday. The stock has a fifty day moving average price of $114.98 and a two-hundred day moving average price of $112.76. 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 $25.75 billion, a P/E ratio of 13.69, a P/E/G ratio of 1.99 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW) last announced 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 return on equity of 19.70% and a net margin of 29.09%. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter last year, the firm earned $1.69 EPS. T. Rowe Price Group’s revenue for the quarter was up 13.8% compared to the same quarter last year. On average, equities research analysts predict that T. Rowe Price Group, Inc. will post 8.84 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Friday, June 14th were given a dividend of $1.24 per share. The ex-dividend date was Friday, June 14th. This represents a $4.96 annualized dividend and a dividend yield of 4.30%. T. Rowe Price Group’s payout ratio is 58.91%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. JPMorgan Chase & Co. raised their price target on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a research report on Tuesday, April 16th. UBS Group lifted 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 report on Friday, April 12th. Morgan Stanley lifted their target price on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 17th. 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. Finally, Citigroup raised their price target on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Four equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $112.10.

Institutional Trading of T. Rowe Price Group

A number of institutional investors and hedge funds have recently modified their holdings of TROW. Confluence Investment Management LLC bought a new stake in shares of T. Rowe Price Group in the 1st quarter valued at about $130,386,000. International Assets Investment Management LLC grew its position in shares of T. Rowe Price Group by 8,968.6% during the fourth quarter. International Assets Investment Management LLC now owns 902,146 shares of the asset manager’s stock valued at $97,152,000 after purchasing an additional 892,198 shares in the last quarter. UBS Group AG grew its position in shares of T. Rowe Price Group by 473.3% during the fourth quarter. UBS Group AG now owns 975,226 shares of the asset manager’s stock valued at $105,022,000 after purchasing an additional 805,106 shares in the last quarter. Norges Bank purchased a new position in shares of T. Rowe Price Group during the fourth quarter valued at about $80,831,000. Finally, Hsbc Holdings PLC grew its position in T. Rowe Price Group by 66.8% in the fourth quarter. Hsbc Holdings PLC now owns 765,080 shares of the asset manager’s stock worth $82,434,000 after acquiring an additional 306,524 shares in the last quarter. 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.