Key Points
- Arif Husain, a VP at T. Rowe Price (NASDAQ:TROW), sold 4,260 shares on Dec. 10 at an average price of $101.96 for $434,349.60, trimming his stake by 8.29% to 47,102 shares (~$4.80M).
- The company declared a quarterly dividend of $1.27 per share payable Dec. 30 (record date Dec. 15), equal to a $5.08 annualized payout and roughly a 4.8% yield with a 55.34% payout ratio.
- T. Rowe Price beat estimates with Q earnings of $2.81 EPS (vs. $2.55 expected) on $1.89B revenue; the stock has a ~$22.9B market cap, a consensus target of $108.85 and an average analyst rating of "Reduce."
T. Rowe Price Group, Inc. (NASDAQ:TROW - Get Free Report) VP Arif Husain sold 4,260 shares of the stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $101.96, for a total value of $434,349.60. Following the transaction, the vice president owned 47,102 shares in the company, valued at $4,802,519.92. This trade represents a 8.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
T. Rowe Price Group Price Performance
NASDAQ TROW opened at $104.96 on Friday. The company has a 50-day moving average of $103.05 and a 200-day moving average of $102.32. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $121.94. The company has a market cap of $22.91 billion, a P/E ratio of 11.43, a P/E/G ratio of 3.42 and a beta of 1.53.
T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.55 by $0.26. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.88 billion. T. Rowe Price Group had a net margin of 28.89% and a return on equity of 19.95%. T. Rowe Price Group's revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.57 earnings per share. As a group, equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.
T. Rowe Price Group Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be given a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend is Monday, December 15th. T. Rowe Price Group's dividend payout ratio (DPR) is 55.34%.
Institutional Trading of T. Rowe Price Group
Several large investors have recently bought and sold shares of TROW. First Trust Advisors LP boosted its stake in shares of T. Rowe Price Group by 137.7% in the second quarter. First Trust Advisors LP now owns 3,441,458 shares of the asset manager's stock valued at $332,101,000 after purchasing an additional 1,993,920 shares during the period. Norges Bank purchased a new stake in T. Rowe Price Group during the 2nd quarter worth $82,756,000. Caisse de depot et placement du Quebec lifted its holdings in T. Rowe Price Group by 81.0% in the 3rd quarter. Caisse de depot et placement du Quebec now owns 1,306,922 shares of the asset manager's stock worth $134,142,000 after buying an additional 584,949 shares in the last quarter. ARGA Investment Management LP boosted its position in T. Rowe Price Group by 3,807.3% in the 2nd quarter. ARGA Investment Management LP now owns 477,161 shares of the asset manager's stock valued at $46,046,000 after buying an additional 464,949 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of T. Rowe Price Group during the second quarter valued at about $37,722,000. Institutional investors and hedge funds own 73.39% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts have issued reports on TROW shares. Evercore ISI lowered their price target on T. Rowe Price Group from $118.00 to $115.00 and set an "in-line" rating for the company in a research report on Friday, December 5th. Morgan Stanley boosted their target price on T. Rowe Price Group from $125.00 to $126.00 and gave the stock an "equal weight" rating in a report on Monday, October 27th. Weiss Ratings restated a "hold (c)" rating on shares of T. Rowe Price Group in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company a "hold" rating in a research report on Friday, November 14th. Finally, Jefferies Financial Group increased their price objective on shares of T. Rowe Price Group from $104.00 to $106.00 and gave the stock a "hold" rating in a research report on Tuesday, October 7th. Twelve investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Reduce" and a consensus target price of $108.85.
Check Out Our Latest Report on T. Rowe Price Group
About T. Rowe Price Group
(
Get Free Report)
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.
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