Key Points
- T. Rowe Price Group VP Stephon Jackson sold 3,000 shares on May 13 at an average price of $102.56, totaling about $307,680. After the sale, he still owned 83,883 shares, representing a 3.45% reduction in his position.
- The company recently beat earnings expectations, reporting $2.52 EPS versus the $2.37 consensus estimate, with quarterly revenue of $1.86 billion slightly above forecasts. Revenue rose 5.3% year over year.
- T. Rowe Price declared a quarterly dividend of $1.30 per share, payable June 29 to shareholders of record on June 15. That works out to a 5.1% annualized yield at the time of the report.
T. Rowe Price Group, Inc. (NASDAQ:TROW - Get Free Report) VP Stephon Jackson sold 3,000 shares of T. Rowe Price Group stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total value of $307,680.00. Following the transaction, the vice president directly owned 83,883 shares in the company, valued at approximately $8,603,040.48. This trade represents a 3.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
T. Rowe Price Group Price Performance
NASDAQ TROW opened at $102.41 on Friday. The firm has a market capitalization of $21.94 billion, a price-to-earnings ratio of 10.98, a price-to-earnings-growth ratio of 4.50 and a beta of 1.51. The company has a 50 day simple moving average of $94.35 and a 200-day simple moving average of $99.21. T. Rowe Price Group, Inc. has a 52-week low of $85.22 and a 52-week high of $118.22.
T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 EPS for the quarter, beating analysts' consensus estimates of $2.37 by $0.15. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.85 billion. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The firm's revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.23 earnings per share. On average, analysts predict that T. Rowe Price Group, Inc. will post 9.61 EPS for the current year.
T. Rowe Price Group Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 5.1%. The ex-dividend date is Monday, June 15th. T. Rowe Price Group's payout ratio is currently 55.73%.
Analysts Set New Price Targets
A number of research firms recently issued reports on TROW. Barclays lifted their price objective on T. Rowe Price Group from $87.00 to $89.00 and gave the company an "underweight" rating in a research report on Friday, May 1st. Zacks Research raised T. Rowe Price Group from a "strong sell" rating to a "hold" rating in a research report on Wednesday. The Goldman Sachs Group raised their price target on T. Rowe Price Group from $85.00 to $90.00 in a research note on Friday, May 1st. JPMorgan Chase & Co. lowered their price target on T. Rowe Price Group from $106.00 to $103.00 and set an "underweight" rating for the company in a research note on Friday, April 24th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of T. Rowe Price Group in a report on Friday, May 8th. Eleven equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Reduce" and an average price target of $99.54.
View Our Latest Analysis on T. Rowe Price Group
Institutional Investors Weigh In On T. Rowe Price Group
A number of large investors have recently bought and sold shares of the business. Fidelis Capital Partners LLC bought a new position in shares of T. Rowe Price Group in the third quarter valued at approximately $540,000. First Citizens Bank & Trust Co. boosted its holdings in shares of T. Rowe Price Group by 141.9% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 175,885 shares of the asset manager's stock worth $18,053,000 after buying an additional 103,174 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in shares of T. Rowe Price Group by 17.4% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 79,003 shares of the asset manager's stock worth $8,088,000 after buying an additional 11,691 shares during the period. Assenagon Asset Management S.A. grew its stake in T. Rowe Price Group by 43.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 312,768 shares of the asset manager's stock valued at $32,021,000 after buying an additional 95,351 shares during the last quarter. Finally, LBP AM SA raised its holdings in T. Rowe Price Group by 23.9% in the 4th quarter. LBP AM SA now owns 156,879 shares of the asset manager's stock worth $16,061,000 after acquiring an additional 30,226 shares during the period. 73.39% of the stock is currently owned by institutional investors.
T. Rowe Price Group Company Profile
(
Get Free Report)
T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.
The firm's product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.
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