Robert F. Maclellan Sells 3,955 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) Stock

T. Rowe Price Group, Inc. (NASDAQ:TROW) Director Robert F. Maclellan sold 3,955 shares of T. Rowe Price Group stock in a transaction on Monday, March 31st. The shares were sold at an average price of $91.56, for a total value of $362,119.80. Following the transaction, the director now owns 42,979 shares of the company’s stock, valued at $3,935,157.24. The trade was a 8.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

T. Rowe Price Group Price Performance

Shares of TROW traded up $0.46 during trading hours on Tuesday, hitting $92.33. The stock had a trading volume of 508,141 shares, compared to its average volume of 1,360,174. The firm has a market capitalization of $20.52 billion, a PE ratio of 10.07, a PEG ratio of 2.86 and a beta of 1.46. T. Rowe Price Group, Inc. has a 12 month low of $89.70 and a 12 month high of $125.81. The stock has a fifty day moving average price of $104.18 and a 200 day moving average price of $110.82.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. During the same period in the prior year, the company earned $1.72 EPS. As a group, analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a dividend of $1.27 per share. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 dividend on an annualized basis and a yield of 5.50%. The ex-dividend date of this dividend was Friday, March 14th. T. Rowe Price Group’s dividend payout ratio is currently 55.46%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TROW. Citigroup lowered their price target on T. Rowe Price Group from $120.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $113.00 target price (up previously from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Wells Fargo & Company reduced their price target on shares of T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. Finally, Barclays reduced their target price on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $111.82.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of TROW. Nilsine Partners LLC raised its holdings in T. Rowe Price Group by 75.5% in the 4th quarter. Nilsine Partners LLC now owns 5,509 shares of the asset manager’s stock worth $623,000 after purchasing an additional 2,370 shares during the period. Principal Financial Group Inc. raised its stake in shares of T. Rowe Price Group by 2.8% in the third quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager’s stock worth $30,062,000 after buying an additional 7,503 shares during the period. Amundi raised its stake in shares of T. Rowe Price Group by 30.1% in the fourth quarter. Amundi now owns 1,717,877 shares of the asset manager’s stock worth $194,064,000 after buying an additional 397,278 shares during the period. Commonwealth Equity Services LLC lifted its position in shares of T. Rowe Price Group by 5.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 357,556 shares of the asset manager’s stock valued at $40,436,000 after buying an additional 20,062 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of T. Rowe Price Group by 3.8% during the 3rd quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager’s stock valued at $3,267,000 after acquiring an additional 1,100 shares during the period. 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.