T. Rowe Price Group, Inc. (NASDAQ:TROW) Insider Jessica M. Hiebler Sells 484 Shares

T. Rowe Price Group, Inc. (NASDAQ:TROW) insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the transaction, the insider now directly owns 13,939 shares in the company, valued at $1,459,831.47. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

T. Rowe Price Group Stock Performance

NASDAQ:TROW opened at $105.87 on Tuesday. The company has a market capitalization of $23.57 billion, a price-to-earnings ratio of 12.57, a price-to-earnings-growth ratio of 1.67 and a beta of 1.41. T. Rowe Price Group, Inc. has a one year low of $87.43 and a one year high of $122.27. The stock has a 50-day simple moving average of $109.42 and a 200 day simple moving average of $113.45.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.01). T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same quarter in the previous year, the business posted $2.02 EPS. T. Rowe Price Group’s revenue was up 7.6% compared to the same quarter last year. On average, equities research analysts forecast that T. Rowe Price Group, Inc. will post 9 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a dividend of $1.24 per share. The ex-dividend date is Friday, September 13th. This represents a $4.96 annualized dividend and a yield of 4.69%. T. Rowe Price Group’s payout ratio is 58.91%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on TROW shares. Wells Fargo & Company assumed coverage on shares of T. Rowe Price Group in a research report on Thursday, September 12th. They set an “equal weight” rating and a $109.00 target price on the stock. Evercore ISI cut their price objective on shares of T. Rowe Price Group from $115.00 to $108.00 and set an “in-line” rating on the stock in a report on Thursday, September 5th. JPMorgan Chase & Co. upped their price objective on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the company an “underweight” rating in a research report on Tuesday, July 23rd. Barclays initiated coverage on T. Rowe Price Group in a research report on Tuesday, August 27th. They set an “underweight” rating and a $99.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Three equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $113.30.

Institutional Trading of T. Rowe Price Group

Institutional investors and hedge funds have recently modified their holdings of the business. Nomura Asset Management Co. Ltd. grew its position in shares of T. Rowe Price Group by 15.8% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 344,889 shares of the asset manager’s stock valued at $37,141,000 after buying an additional 47,043 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in T. Rowe Price Group in the first quarter valued at approximately $1,008,000. Nebula Research & Development LLC bought a new position in shares of T. Rowe Price Group during the fourth quarter valued at approximately $807,000. Fisher Asset Management LLC grew its holdings in shares of T. Rowe Price Group by 6.6% during the fourth quarter. Fisher Asset Management LLC now owns 1,751,405 shares of the asset manager’s stock valued at $188,609,000 after purchasing an additional 109,053 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its position in shares of T. Rowe Price Group by 52.4% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 65,534 shares of the asset manager’s stock worth $7,990,000 after purchasing an additional 22,533 shares during the period. 73.39% of the stock is owned by institutional investors and hedge funds.

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.