Dorothy C. Sawyer Sells 2,000 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) Stock

T. Rowe Price Group, Inc. (NASDAQ:TROW) VP Dorothy C. Sawyer sold 2,000 shares of the company’s stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total value of $190,860.00. Following the transaction, the vice president now directly owns 44,789 shares in the company, valued at $4,274,214.27. This trade represents a 4.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

T. Rowe Price Group Stock Performance

NASDAQ:TROW opened at $91.58 on Friday. The company has a market cap of $20.18 billion, a PE ratio of 10.00, a PEG ratio of 2.86 and a beta of 1.49. T. Rowe Price Group, Inc. has a 52-week low of $77.85 and a 52-week high of $125.81. The stock has a 50-day simple moving average of $91.66 and a 200 day simple moving average of $102.59.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, May 2nd. The asset manager reported $2.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.13 by $0.10. The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.80 billion. T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. T. Rowe Price Group’s quarterly revenue was up .8% on a year-over-year basis. During the same period last year, the company earned $2.38 earnings per share. On average, research analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be issued a dividend of $1.27 per share. The ex-dividend date is Friday, June 13th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.55%. T. Rowe Price Group’s payout ratio is presently 57.60%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Citigroup dropped their price objective on T. Rowe Price Group from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Morgan Stanley upped their price objective on T. Rowe Price Group from $94.00 to $95.00 and gave the company an “equal weight” rating in a report on Tuesday, May 6th. TD Cowen dropped their price objective on T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating for the company in a report on Wednesday, April 9th. Evercore ISI dropped their price objective on T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating for the company in a report on Friday, April 11th. Finally, Barclays upped their price objective on T. Rowe Price Group from $85.00 to $90.00 and gave the company an “underweight” rating in a report on Monday, May 5th. Four equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. Based on data from MarketBeat, T. Rowe Price Group currently has a consensus rating of “Hold” and an average target price of $94.09.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of TROW. Vanguard Group Inc. grew its stake in T. Rowe Price Group by 0.9% in the first quarter. Vanguard Group Inc. now owns 26,286,393 shares of the asset manager’s stock valued at $2,414,931,000 after purchasing an additional 222,556 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in T. Rowe Price Group by 7.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager’s stock valued at $707,973,000 after purchasing an additional 519,075 shares in the last quarter. Fayez Sarofim & Co grew its stake in T. Rowe Price Group by 7.6% in the fourth quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager’s stock valued at $684,474,000 after purchasing an additional 425,142 shares in the last quarter. Geode Capital Management LLC grew its stake in T. Rowe Price Group by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 5,631,429 shares of the asset manager’s stock valued at $635,260,000 after purchasing an additional 116,231 shares in the last quarter. Finally, Invesco Ltd. grew its stake in T. Rowe Price Group by 43.2% in the first quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager’s stock valued at $315,453,000 after purchasing an additional 1,035,865 shares in the last quarter. 73.39% of the stock is currently owned by 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.